Master bill of lading

A master bill of lading (MBL) is the bill the vessel-operating carrier issues to the NVOCC or freight forwarder who books the cargo, covering the port-to-port ocean leg of a consolidated shipment. The forwarder in turn issues house bills of lading to each underlying shipper. The MBL names the carrier as issuer and the forwarder or its destination agent as shipper and consignee, while the house bills name the real merchants. This consolidation lets a forwarder buy carrier space in bulk and resell it. The MBL governs the carrier-forwarder contract; the house bill governs the forwarder-merchant contract, and each can be negotiable or a sea waybill.