Negotiable transport document means a transport document that indicates, by wording such as “to order” or “negotiable” or other appropriate wording recognized as having the same effect by the law applicable to the document, that the goods have been consigned to the order of the shipper, to the order of the consignee, or to bearer, and is not explicitly stated as being “non-negotiable” or “not negotiable”.
Negotiable transport document means a transport document that indicates, by wording such as "to order" or "negotiable" or other appropriate wording recognized as having the same effect by the lawgoverning the document, that the goods have been consigned to the order of the shipper, to the order of the consignee, or to bearer, and is not explicitly stated as being "non-negotiable" or "not negotiable". 21. The definition should succeed any definition of the term “transport document” (Art. 1.20). As has already been pointed out by various parties during the consultation process within the CMI, the use of the term “negotiable” is problematic. The definition here proposed does not make clear what effect “consignment” of the goods “to the order of the shipper, consignee or bearer” actually has. In some legal systems, a document as defined here is truly negotiable in the sense of conferring good title (i.e. property free from any defects) to the consignee/endorsee. In other systems, such a document may not transfer more than the exclusive right to demand delivery from the carrier. In some legal systems, the notation “to order” may not be the relevant criterion for the transferability of the right.
Negotiable transport document means a transport document that indicates, by wording such as “to order” or “negotiable” or other appropriate wording recognized as having the same effect by the law applicable to the document, that the goods have been consigned to the
More Definitions of Negotiable transport document
Negotiable transport document means a transport document that indicates, by wording such as “to order” or “negotiable” or
Negotiable transport document means a transport document that indicates, by wording such as “to order”, “negotiable” or other wording recognized as
Negotiable transport document means a transport document that indi- cates, by wording such as “to order” or “negotiable” or other appropriate
Negotiable transport document means a transport document that indicates, by wording such as “to order” or “negotiable” or other appropriate wording recognized as having the same effect by the law governing the document, that the goods have been consigned to the order of the shipper, to the order of the consignee, or to bearer, and is not explicitly stated as being “non-negotiable” or “not negotiable”.The purpose of this definition is to give indications for identifying a negotiable transport document by scrutinizing its face. Further indications already appear in the definition of “transport document” in article 1.20 below. The rules as to delivery under such a document appear in article 10.3.2. The rules as to transfer of such a document appear in article 12.1. Both of these rely on the definition of “holder” which appears in article 1.12.The use of the English word “negotiable” has been much discussed, and it is undoubtedly true that in some common law countries the word is not technically correct when applied to a bill of lading. Some would prefer the word “transferable” as being more neutral. It has been thought best to retain “negotiable” on the basis that even if in some legal systems inaccurate, it is well understood internationally (as is evidenced by the use of the word “non- negotiable” in article VI of the Hague Rules), and that a change of nomenclature might encourage a belief that a change of substance was intended.