There are two main Bill of Lading (BOL) types that are being used universally in shipping: The Bill of Lading is the primary document used in sea transport. The buyer (also referred to as the "consignee") must present the Bill of Lading to receive the cargo. The Bill of Lading is a physical document, except when a shipment uses Telex Release, where the Bill of Lading is sent digitally. A Bill of Lading functions as a contract of carriage, a transport goods receipt, and a document entitling its holder to the ownership of the cargo. The Sea Waybill is the second most used document used in sea transport. With the Sea Waybill, the supplier (also referred to as the "shipper") releases ownership of the cargo to the buyer (also referred to as the "consignee") immediately. The buyer can pick up the cargo without presenting a document proving ownership. A Sea Waybill is proof of a contract of carriage and a transport goods receipt, but it does not entitle its holder to cargo ownership.