O.B.L. (Ocean Bill of Lading or Original Bill of Lading)

Document that indicates that the exporter will consign a shipment to an international carrier for transportation to a specified foreign market and defines the terms of the contract of carriage. It serves as a collection document. If it is a straight B/L, the foreign buyer can obtain the shipment from the carrier by simply showing proof of identity. If a negotiable B/L is used, the buyer must first pay for the goods, post a bond, surrender the original B/L, or meet other conditions agreed upon by the seller.