Air Waybill and Bill of Lading are two important bills, mostly applicable in import and export transactions. The bill of lading is a pre-printed bill that is used in maritime shipment and contains the shipment terms and conditions between one port to the other. The bill of lading contains the titles and the description of the goods being shipped and is finally given to the carrier’s agent to signify the delivery of the goods. Generally, the bill of lading is based on the Hague rules and the US COGSA.