"NEGOTIABLE OR 'TO ORDER'", Find Credit Unions, Fiduciaries, Savings Plans, Trust Companies, Letters Of Credit, Registered Agents
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"NEGOTIABLE OR 'TO ORDER'" - Depository Glossary Terms and Abbreviations
A bill of lading in which the merchandise is consigned directly "to order" or "to the order of" a designated party, usually the shipper or a bank. The phrase "to order" or "to the order of (a designated party)" signifies negotiability permitting the title of the merchandise to be transferred many times by means of appropriate endorsements.