Bearer Document

Bearer Document in International Trade

Meaning of Bearer Document, according to the Dictionary of International Trade (Global Negotiator): A negotiable document such as a pawn ticket, a duly-endorsed cheque, or one payable to the order cash, or a negotiable warehouse receipt, whereby the holder is considered to be the owner of the goods that the bearer document represents. The most commonly bearer document in foreign trade is a duly endorsed negotiable marine (ocean) bill of lading. Ownership to the shipped goods is conveyed from one party to another by endorsing and passing the B/L, and this document must be surrendered to the carrier by the final owner in exchange for the goods. See bearer; endorsement.