To order

To order: In order to increase the marketability of a Bill of Lading, it can be made out to bearer, by stating the term to order in the consignee field.

As no actual recipient is listed on the Bill of Lading, the shipping company will release the goods to the party that is the first to submit an original Bill of Lading in the unloading port. The original Bill of Lading is endorsed when correct, by the shipper and the recipient, as well as all parties that received the Bill of Lading through trading. As such, a consignment may change owner several times on its way to its final destination.