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Negotiable bill of lading

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Negotiable bill of lading
Contract that grants title of merchandise to the holder, which allows banks to use the merchandise as collateral.


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However when EDI attempts to perform the traditional negotiable bill of lading is easily transferable by mere delivery and required endorsement.
Berman indicates as examples the rule that a negotiable bill of lading is a document of title through whose transfer the risk of loss or damage to goods in transit can be shifted to sub-purchasers; or that a banker's letter of credit gives an exporter an absolute right of payment by the confirming bank upon his presentation of the appropriate shipping and other commercial documents (18).
 
 
 
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