Marine/Ocean Bill of Lading [Last Updated by: admin on 2012-01-01]
Used in foreign trade to describe fully the details of goods being sent. A Marine Bill of Lading can give the holder the right of procession to the goods and acts as a receipt for the goods and a contract of carriage. It is a negotiable instrument and a document of title. The shipowner is compelled to release goods to the first presenter of a bill of lading, in the absence of prima facie evidence of fraud.