A letter of guarantee from a company indemnifying the carrier of responsibility associated with the release of goods in lieu of a bill of lading. This may be useful if a shipper needs their cargo carrier to do something that is considered outside of “standard” practice to keep a shipment moving. For example, if shipping documents are misplaced or do not arrive with the cargo, a cargo interest (typically the shipper or consignee) may ask the carrier to release a shipment without an original Bill of Lading in-hand (avoiding extra demurrage and other fees). In this case, company guarantee could protect them should an issue arise after the shipment is released.

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Logistics 101: What is Bill of Lading? | FreightAmigo