Operations
BOL (Bill of Lading)
A BOL is the legal contract and receipt issued by a carrier to a shipper, describing the freight being transported.
The Bill of Lading is the single most important freight document. It's three things at once: a receipt that the carrier picked up the goods, a contract for transportation, and the document of title for the freight.
A straight BOL is non-negotiable (consigned to a specific receiver). An order BOL is negotiable — it can be endorsed and transferred, common in international and shipper-financed transactions.
Modern TMS platforms generate eBOLs that flow into EDI 204 tender acceptance and EDI 214 status updates, then close out automatically when the POD is signed.
Run compliance & dispatch in one place
Hayes combines a DOT-aware ATS, dispatch, EDI, and document compliance — built for carriers who don't want five logins.
Related terms
Technology
EDI 214 (Shipment Status Message)
EDI 214 is the X12 transaction set carriers use to send shipment status updates — pickup, in-transit, delivered — back to shippers.
Operations
POD (Proof of Delivery)
POD is the signed document proving freight was delivered. It's the trigger for invoicing and the basis of OS&D claims.
Finance
Factoring (Freight)
Factoring is selling your accounts receivable to a third party for immediate cash, typically at a 1-4% discount.