3 Review(s)

The Bill of Lading is a document of title to deliver the cargo at destination port and an evidence of contract of carriage by sea. It is ‘Quasi Negotiable’ i.e. title to goods can be transferred by endorsement and delivery. The last ‘Endorsee’ on the Bill of Lading can obtain delivery of the cargo from the Shipping Line. It can also be offered as collateral for finance against security of the goods. There are specific international conventions and legislations pertaining to bill of lading where the rights and immunities of the interested parties are clearly spelt out.