B/L that is written (drawn) 'To Order' of the consignee and is, therefore, a negotiable-instrument of title. Ownership of goods covered under it can be transferred by one party to another by signature (endorsement) and delivery of the B/L. Generally, goods which have not been paid-for in advance (goods sent under an open-account or a letter-of-credit) are shipped under 'To Order' B/L which is of two types (1) To Order, Blank Endorsed: not consigned to any named party but 'To Order' of the consignor, with the intended-consignee's name given under 'notify party.' The consignor must stamp and sign (endorse) this B/L so that its title can be transferred.(see blank endorsement). (2) To Order, Bank: consigned to a bank with the intended consignee's name given under 'notify party.' The bank endorses the B/L to the intended consignee against payment of (or a pledge to pay) the amount of the accompanying bill of exchange. 'To Order' B/Ls are used commonly in letter of credit transactions, and may be bought, sold, or traded, or used as security for borrowing money from banks or other lenders.