negotiable bill of lading (B/L)
Definition
B/L that can be transferred by its consignee to a third party by signing (endorsing) and delivering it to another party (the new consignee). The new consignee can then transfer it to another party ... and so on. To be negotiable a B/L must be written (drawn) 'To Order' of the consignee and must be clean. Any B/L that does not fulfill these two conditions is termed non-negotiable.
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