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Bills of Lading (B/L)

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A right to the payment of money such as agency notes, commercial pape The unsecured promissory notes of large, financially sound corporations. r, T-Bills, certificates of deposit (CD's), banker's acceptances and repurchase agreements. that calls for payment of money A medium of exchange; coined or stamped currency. . The drawer The person, company, or bank that creates the draft and receives payment. (or seller) orders in writing for the drawee The person, company, or bank upon which a draft is drawn. (or buyer) to pay a specific amount of money to the drawer on a certain date. Also called a bill of exchange (See Draft.) . mone A medium of exchange; coined or stamped currency. y. The drawe The person, company, or bank that creates the draft and receives payment. r (or seller) orders in writing for the drawe The person, company, or bank upon which a draft is drawn. e (or buyer) to pay a specific amount of money to the drawer on a certain date. Also called a bill of exchang (See Draft.) e. . For example, a steamship company will not deliver goods covered by a "to order" bill until ownership is proved by presenting the original endorsed bill of lading.

Problems exist in connection with "to order" bills of lading for Latin American countries, where delivery of incoming cargo is the function of the customs National government authorities that control imports, inspect imports, and collect duties levied on both imports and exports authorities and is not entrusted to steamship lines or their agents. The laws of a few Latin American countries prohibit "to order" bills of lading, and in some other Latin American countries, these bills are not accorded the same protection as in other parts of the world, notably in Europe and the U.S.

In shipping parlance, a distinction is made between a bill of lading made out to the order of the shipper and a bill made out to the order of the consignee. The latter bill does not give the shipper as much protection as a bill drawn to its own order. As a rule, when a bill of lading is to the order of a consignee, the consignee can get the goods from a steamship line by posting a bond A promise under seal to pay money; an IOU or promissory not A legal and binding promise by a debtor (the promisor) to pay a certain sum of money to a creditor (the promisee) at a future date, usually with interest at a fixed rate. gBills of Lading (B/L)d q Adult Homemade cBills of Lading (B/L)e z Creative