A Negotiable Bill of Lading is a bill of lading that acts as a contract to transfer carriage to a third party.
What is Negotiable Bill of Lading ?
A Negotiable Bill of Lading, also known as an order bill of lading, is a document that transfers the contract of carriage of goods to the entity named on the bill of lading through consignment. The transfer of the control of goods happens when the consignee signs the document and delivers it to the new consignee. To make this transfer official, the consignor must stamp and sign the bill.