Step 1:
➡️ Is the document a Bill of Lading (B/L) or Charter Party Bill of Lading?
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Yes → Go to Step 2
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No → ❌ Non-Negotiable (Air Waybill, Sea Waybill, Multimodal, Road/Rail, Courier, Post)
Step 2:
➡️ How is the consignee shown?
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“To order” / “To order of [Bank/Party]” / “Bearer” → ✅ Negotiable (title can be transferred by endorsement)
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Specific named consignee (e.g., ABC Ltd.) → ❌ Non-Negotiable
✅ Final Rule:
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Negotiable Transport Documents = Bill of Lading (Marine or Charter Party) consigned to order / bearer.
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Non-Negotiable Transport Documents = Air Waybill, Sea Waybill, Multimodal Transport Doc, Road/Rail/Inland Waterway Doc, Courier/Post Receipts, or B/L consigned to a named party only.
