Document background
A Transfer Bill of Lading is a fundamental document in international maritime trade, essential for transactions where goods need to be sold while in transit. This document, governed by New Zealand legislation including the Contract and Commercial Law Act 2017 and Maritime Transport Act 1994, serves three primary functions: it acts as a receipt confirming the carrier's possession of goods, provides evidence of the contract of carriage, and functions as a negotiable document of title. The Transfer Bill of Lading is particularly crucial in international trade finance, enabling banks to provide documentary credit and facilitating the smooth transfer of ownership rights through endorsement. It must comply with both New Zealand domestic law and international conventions, particularly the Hague-Visby Rules, ensuring its recognition and enforceability across different jurisdictions.
