Negotiable Bill Of Lading

DEFINITION of 'Negotiable Bill Of Lading'

A contract of carriage that can be transferred to a third party. A straight or uniform bill of lading, in contrast, may not by transferred and is only deliverable to the named consignee (recipient). Like any bill of lading, the negotiable bill of lading also lists the goods being transported and serves as a contract of the terms of the shipment.

BREAKING DOWN 'Negotiable Bill Of Lading'

Also known as an order bill of lading, the negotiable bill of lading transfers control (title) of the goods to the order of the entity named on the document. A bill of lading must be clean in order to be negotiable. To transfer the negotiable bill of lading, the consignor (the person or business shipping the goods) must stamp and sign the bill and the carrier must deliver it.

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RELATED FAQS
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    Find out whether the same bill of lading can be used for all modes of transportation and when to use various types of bills ... Read Answer >>
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    How many bills of lading copies are allowed when importing or exporting? Should I ship by air or sea? What type of bill of ... Read Answer >>
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    Understand the difference between a bill of lading and an ocean bill of lading. Both documents serve as receipts for freight ... Read Answer >>
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