BILL OF LADING

ISSUE OF THE BILL OF LADING

We can distinguish:

The bill of lading to bearer.
The bill of lading to a named person.
The bill of lading to order.

To Bearer

In the box "consignee" nothing is entered so that each person who holds an original bill of lading to bearer and who presents it to the master or to the shipping agent has the right to receive the goods. Usually a bill of lading to bearer is negotiable because it can be transferred from person to person, without endorsement, just like a bank note, which in case of loss represent a certain danger. The bill of lading to bearer is consequently not commonly used.

To a Named Person

In the box "consignee" the name of the addressee is entered. Only he has the right to receive the goods. It is difficult to negotiate a bill of lading to a named person. The only way to negotiate such a bill of lading is by way of cession of an authentic deed. It is usually only used if one is sure that the bill of lading will not be negotiated.

To Order

In the box "consignee", the words "to order" are entered. The shipper specifies himself, by endorsement on the original bill of lading, the name of the addressee (firm or person).

The bill of lading to order can be transmitted to a third person (thus negotiated) either by:

a full endorsement with name and address of the new holder followed by the date and the signature of the transferor: "Please deliver to order of Transexco Ltd, Boomsesteenweg 183, 2000 Antwerp + date and signature".

a blanc endorsement i.e. a simple signature "Please deliver to ... + date and signature".

The bill of lading to order is the most used one because it is perfectly negotiable with the least risks in case of loss.

Useful WWW Links

http://www.monstermoving.com/Moving_and_Planning/MAP_Article/Rights_Responsibilities/?section=5

http://www.scinet-corp.com/associates/index.htm?bdd_dic.htm~index2

http://www.sun-rise.com/intltradedocuments/482936.012.html

http://www.export911.com/e911/ship/versusBL.htm

http://www.bolero.net/downloads/bbls.pdf

http://www.law.cornell.edu/ucc/1/1-201.html

http://www.forwarderlaw.com/Cases/rafaela.htm

http://www.tradetnt.com/billoflading.shtml

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