Negotiable Bill of Lading

A negotiable bill of lading is a document that serves as a receipt for goods shipped and as a document of title. It is issued by the carrier of the goods and is typically transferred to the buyer of the goods as evidence of ownership.

A negotiable bill of lading is a valuable document because it can be used to obtain possession of the goods. The holder of the bill of lading is entitled to receive the goods from the carrier. This means that the bill of lading can be used as collateral for a loan or sold to another party.

There are two types of negotiable bills of lading: straight bills of lading and order bills of lading. A straight bill of lading is made out to a specific person or company. An order bill of lading is made out to the order of a named person or company.

The main difference between a straight bill of lading and an order bill of lading is the way in which they can be transferred. A straight bill of lading can only be transferred by endorsement. An order bill of lading can be transferred by endorsement or by delivery.

Negotiable bills of lading are important documents for businesses that trade in goods. They provide a way to ensure that the goods are delivered to the correct person and that the buyer has title to the goods.

Here are some additional details about negotiable bills of lading:

* They are typically issued by the carrier of the goods.
* They can be used to obtain possession of the goods.
* They can be used as collateral for a loan or sold to another party.
* There are two types of negotiable bills of lading: straight bills of lading and order bills of lading.
* A straight bill of lading is made out to a specific person or company.
* An order bill of lading is made out to the order of a named person or company.
* The main difference between a straight bill of lading and an order bill of lading is the way in which they can be transferred.
* A straight bill of lading can only be transferred by endorsement.
* An order bill of lading can be transferred by endorsement or by delivery.

Negotiable bills of lading are an important part of the international trade system. They provide a way to ensure that the goods are delivered to the correct person and that the buyer has title to the goods.