What is the primary function of a bill of lading in international shipping?

The primary function of a bill of lading in international shipping is to serve as a receipt for cargo. This document is issued by a carrier to acknowledge that goods have been received for shipment. It contains crucial information such as the type and quantity of goods being transported, the destination, and the consignor and consignee details. This receipt component is vital as it provides proof of the carrier's responsibility for the goods once they are loaded on the vessel.

While the bill of lading may include additional information, its essential role centers around affirming that the cargo is in the carrier's possession at a given point in time, establishing a legal relationship between the shipper and the carrier. Other options, such as declaring customs duties, providing shipping insurance, or listing product specifications, are functions that may require additional documentation or services but are not the primary focus of a bill of lading. Each of those functions has its corresponding specific documents or processes that govern them in international trade.