Now we also have a second kind of bill of lading. There are basically two types that show that the common carrier has received the merchandise. One is called a straight bill of lading, which is a non-negotiable receipt. The other is an order bill of lading, which is a negotiable receipt. We need to understand the meaning of negotiable in this context. Does it refer to haggling about the price of something? Well, that is one definition of negotiable, but in the context of sales of personal property, negotiable means transferable. For example, if I had a dollar bill and I wanted to buy a candy bar, I would negotiate by giving the negotiable instrument (the dollar bill) to someone in exchange for the candy bar. So, negotiable refers to the transferability of ownership. A straight bill of lading cannot be transferred as proof of ownership, whereas an order bill of lading is negotiable and serves as proof of title. It can be used to transfer the title from one person to another. This topic of order bills of lading is covered by Article 7 of the UCC (Uniform Commercial Code). Therefore, if I have an order bill of lading, I can sell it and hand it over to the buyer as proof of their right to the merchandise. The buyer can then present it to the common carrier (airline, ocean liner, truck, or railroad) to claim their ownership. A similar document to an order bill of lading is a warehouse receipt. Imagine you're a wheat rancher in Kansas with 10,000 bushels of wheat. Unless you have your own storage facility, you would take it to the local grain elevator to store it. The elevator mixes your wheat with millions of bushels of wheat they have. The question is, how...
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Bill Of Lading meaning in hindi Form: What You Should Know
Bill of lading Meaning in Hindi — YouTube The Bill of lading in the form of a check card on a carrier's desk has the following meaning : The bill of lading, (or the bill of lading order), is prepared by a consignee for payment by a carrier or for shipment in its container after the carrier has received the necessary documents for issuance of the cargo authorization. The bill of lading must be issued no later than thirty days after the shipment from the consignee to the carrier. The bill of lading is the means by which the carrier is required to acknowledge receipt of a shipment of goods. The bill of lading is based on the receipt of shipment of the goods by the carrier and the bill of lading order or receipt for goods, if applicable, are filed with the Customs authorities within thirty days after the shipment has left the consignee's premises. The consignee may also claim the benefit of the bill of lading and the carrier of the shipment of goods can also claim as an indemnity for the bill of lading. There are two types of bill of lading: The first type of bill of lading, is the bill of lading order. The bill of lading order forms the basis for the issuance of the cargo authorization by the carrier. The container number, consignee's name of the consignee, the consignee's address, the description of the goods and the amount to be held by the carrier are contained in the bill of lading order. The second type of bill of lading orders are the freight bills of lading, which have been used to transfer freight by either of two methods. The first method, is in an express bill. These bills are used to pay for shipping freight from one consignor to another. The consignor then pays the carrier for freight held by that consignor up to the cargo authorization. This freight bill of lading is issued on behalf of the carrier for the first consignor. From the second consignor, the carrier issues a freight bill of lading, for the freight to be held by the carrier. These freight bill of lading are issued on behalf of the carrier for the second consignor. The freight bill or charge for the goods transferred, should be stated in the bill of lading order.
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