NEGOTIABLE BILL OF LADING (B/L)
\nɪɡˈə͡ʊʃɪəbə͡l bˈɪl ɒv lˈe͡ɪdɪŋ bˈiː slˈaʃ ˈɛl], \nɪɡˈəʊʃɪəbəl bˈɪl ɒv lˈeɪdɪŋ bˈiː slˈaʃ ˈɛl], \n_ɪ_ɡ_ˈəʊ_ʃ_ɪ__ə_b_əl b_ˈɪ_l ɒ_v l_ˈeɪ_d_ɪ_ŋ__ b_ˈiː s_l_ˈa_ʃ ˈɛ_l]\
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Transferrable B/L from consignee to another party by signing, called endorsing, and delivering it to that other party, who becomes the new consignee. The new consignee can then transfer the instrument to another party … and so on. A B/L is negotiable if written, or drawn, ‘To Order’ of the consignee and must be clean. Any B/L failing to fulfill these two conditions is termed non-negotiable.
By Henry Campbell Black
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Nearby Words
- negoce
- negociate
- negociate, negociable, &c.
- negotiability
- negotiable
- NEGOTIABLE BILL OF LADING (B/L)
- negotiable instrument
- negotiable instruments
- negotiable security
- negotiable words
- negotiant