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Video instructions and help with filling out and completing Bill Of Lading Template
Now we also have a second kind of a bill of lading there basically are two types that would show that the common carrier has received the merchandise one we call a straight bill of lading and as you see is a receipt that is not negotiable the other opposite is a decline an order bill of lading it's a receipt that is negotiable so we need to know listen to what some ago shovel means does that mean we're talking about haggling about the price of something well that is of course one definition of negotiable and negotiated I am negotiable but in the context context of sales of personal property negotiable means transferable if I had a dollar bill and I wanted to buy a candy bar I would negotiate I would take that negotiable instrument which is a dollar bill and give that to somebody and then accept that as as payment so we would negotiate I transfer the bill they would accept that as opposed to negotiating about the price so a straight bill of lading is not something that you can take that piece of paper and transfer to someone else as proof of the transfer of ownership or as an order Bill of Lading is it is negotiable it is proof of title and can be used to transfer the title from one person to another and it is covered this this whole topic of this order until oblivion is covered by article 7 of the UCC the Uniform Commercial Code so if I have an order Bill of Lading as opposed to just a straight bill of lading I can take that bill of lading and sell it I can get money for it and I hand that lady that order Bill of Lading to the buyer the buyer can then present that to the common carrier of the airline the ocean light of the truck and on the railroad and this would be their proof that they have the right to it because they purchased it and we have an order bill of late now something very similar to an order della lighting is we call a warehouse we see think of this in terms of you're a rancher growing wheat in Kansas and you have 10,000 bushels of wheat you're probably unless you have your own storage facility you're going to take that to market at some point so you're going to call it to the local grain elevator and you're going to mix your 10,000 bushels of wheat with the millions of bushels of wheat that the elevator has and so the question is why how do I prove that I have this that I have given them 10,000 bushels well you get a warehouse receipt it could be a non-negotiable warehouse receipt or it could be a negotiable warehouse receipt now the key difference is this if it is a non-negotiable that means you couldn't use it like.