Let’s discuss Negotiable vs Non Negotiable bill of lading.
Negotiable Bill of Lading :
- In negotiable Bill of lading ownership can be transferred to another parties.
- Whoever holds the original bill is considered as the owner of the goods.
- Provides flexibility in trade as it can be used to facilitate transactions and secure financing.
- They should be handled with care since whoever holds the document can claim the ownership of goods.
- Eg: Order bill of lading
Non Negotiable Bill of Lading :
- The goods can be received by only the person mentioned in the document.
- The ownership transfer is limited since the consignee mentioned in the document is considered as the only recipient.
- Direct and straightforward transactions, since ownership is clear.
- Provides security since none other than the mentioned consignee can claim the goods.
- Eg: Straight bill of lading
To learn more about the Bill of Lading and its functions, visit our blog