These three types are enumeraed in Article 264 of the UAE Maritime Commercial Code.
In other words, the bill of lading is an acknowledgment of the receipt of the goods specified in it.
It usually indicates (1) the leading marks necessary for the identification of the goods, as furnished in writing by the shipper before loading; (2) either the number of packages or pieces or the quantity or weight, as indicated by the shipper in writing; and (3) the apparent good order and condition of the goods (Article 258 of the UAE Maritime Commercial Code).
If fraudulently or negligently made, such representations may form the basis of an action in tort against the carrier by third parties who suffer loss in reliance on them, in particular consignees who take up and pay for the shipping documents when, if the true facts had been stated, they would have been entitled to reject them.
A bill of lading is a document signed by the carrier (whether shipowner or master or charterer) which states that certain goods have been shipped on board a particular ship in order to be transported from one place to another and to be delivered to a particular party named in the bill of lading.
Article 257 of the UAE Maritime Commercial Code expressly stipulates that the carriage contract is evidenced by the bill of lading which is issued by the carrier or his representative at the demand of the shipper.
In addition, the bill of lading is a document of title giving the consignee or the endorsee of the bill the right to sell the goods while they are in transit.
A bill of lading is therefore one of the most important documents in the shipping world.
Three Types There are three types of bills of lading: Nominate bills of lading, order bills of lading and bearer bills of lading.
Briefly, a nominate bill of lading requires the delivery of the goods to a named party and is a non-negotiable document of title.
An order bill of lading provides for the delivery of the goods to the order of a specified person “or assigns”, and may be negotiated by endorsement or endorsement in blank.
A bearer bill of lading permits any holder of the bill of lading to take delivery of the goods, and may be negotiated by simple delivery, without endorsement.