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order bill of lading
A negotiable bill of lading. There are two types:(1) a bill drawn to the order of a foreign consignee, enabling him to endorse the bill to a third party. (2) a bill drawn to the order of the shipper and endorsed by him either "in blank" or to a named consignee. The purpose of the latter bill is to protect the shipper against the buyer's obtaining the merchandise before he has paid or accepted the relative draft. (see also endorsement in blank)
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- Part of Speech: noun
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- Industry/Domain: Maritime
- Category: Ocean shipping
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