Is bill of lading a negotiable instrument?

A bill of lading can be a negotiable instrument if it is issued as a "negotiable bill of lading," which allows for the transfer of ownership of the goods to another party through endorsement and delivery. This means that the holder of the negotiable bill has the right to claim the goods specified in it. In contrast, a non-negotiable bill of lading does not confer such rights and is typically used for specific transactions where the identity of the consignee is fixed. Therefore, whether a bill of lading is negotiable depends on its specific terms and conditions.