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How does a shipped-on-board bill of lading differ from a received-for-shipment bill of lading?

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Mosaic portrait of Emperor Justinian I with a jeweled crown and halo, from the 6th-century Basilica of San Vitale in Ravenna, Italy. — Carriage of goods Justinian I, detail of a 6th-century mosaic at the Church of San Vitale, Ravenna, Italy.

In the context of the carriage of goods, the primary difference between these two types of bill of lading lies in the confirmation of the goods' status regarding the vessel.1

Shipped-on-board bill of lading: This document certifies that the goods have been physically loaded onto the ship.1
Received-for-shipment bill of lading: This document indicates that the goods have been received by the carrier, typically alongside the ship, but it does not confirm that they have been loaded.1

Because a received-for-shipment bill of lading does not prove the specific fact or date of loading, it is considered less valuable than a shipped-on-board bill of lading. Both documents serve as a receipt for goods and incorporate the terms of the contract for transportation to the destination.1