OC B/L Government Abbreviation

Ocean Bill of Lading

A document indicating that the exporter will consign a shipment to an international carrier for transportation to a specified foreign market and indicates the terms of the contract of carriage. The ocean B/L 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 it is a negotiable B/L, the buyer must first pay for the goods, post a bond, surrender the original B/L or meet other conditions agreeable to the seller.