Bill of lading is document generally issued by a shipper which acts as a receipt for goods received for carriage. In addition it provides evidence of the terms of contract between a shipper and a transport company under which goods are moved between specified places for a specified charge. And a bill of lading also acts as a transferable document of title to goods – meaning goods can be bought and sold dimply by exchange of the bill. Bills of lading are used for all modes of transport – they're known as air waybills for airfreight. See also Air Waybill.