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International Trade &Transaction. 5th Lecture. Bill of L ading Special Phrases. Negotiation → ipso iure (by virtue of law); Assignment vs. Negotiation=endorsement; To the order of…..→ Actors: Bearer; Holder; Holder in due course; Endorser/endorsee; Blank or full endors e ment ;

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bill of l ading special phrases
Bill of LadingSpecial Phrases

Negotiation→ ipso iure (by virtue of law);

Assignment vs. Negotiation=endorsement;

To the order of…..→ Actors:

  • Bearer;
  • Holder;
  • Holder in due course;
  • Endorser/endorsee;

Blank or full endorsement;

Jointly and severally liable;

ocean marine bill of lading 1
Ocean /marine Bill of lading 1
  • Connossement originating from Code of Justinian; The first use in the modern sense: 1350
    • Prima facie evidence of the receipt of cargo;
    • Conclusive evidence of the contract of carriage by sea;
    • Document of title;
  • Actors:
    • Shipper;
    • Carrier or master or agent of the carrier;
    • Consignee;
  • Full set=3/3 vs. 1/3 enough to the cargo;
  • Can be pledged;
content of b l 2
Content of B/L 2.

The shipper furnish information on:

  • Leading marks for identification of goods that must be legible until the end of the voyage;
  • Number of packages/pieces/quantity or weight;
  • The shipper have to guarantee for the information furnished by him and has to indemnify the carrier against all losses and damage arising from the inaccuracies of these particulars; BUT

Any clause which is able to relieve the carrier from liabilty for the loss/damage to the goods arising from negligence, fault, failure: null and void;

negotiation of b l 3
Negotiation of B/L 3.


  • Bearer/holder/holder in due course;
  • Holder in due course has the title to the goods beyond all doubts since he has given adequate value for the bill in good faith and without notice of the breach of duty, fraud, mistake, duress, loss, theft or conversion;

to the order of a specified person;

  • Bearer/Holder = to the order of …. has to prove in case of doubt if he…


    • By pure delivery or
    • By endorsement and delivery;
types of b l 4
Types of B/L 4.

Types: clean vs. unclean → apparent good order and condition vs. positive notation;

  • Liner vs. Charter’s;
  • Shipped aboard vs. Received for shipment;
  • Port-to-port vs. Combined or Multimodal;
  • Through; Switch; Straight;

Other documents: Booking note; Mate’s receipt; Letter of indemnity;


Three forms:

  • Customs warehousing;
  • Private warehousing;
  • Warehousing at place rented;

The contract made between the bailer and baillee;

The documents:

warehouse receipt→evidencing the receipt of goods;

Warehouse warrant →serve as collateral (can be pledged by the bank) in financing;