Negotiable
In maritime context, negotiable refers to a document or instrument that can be transferred from one party to another by endorsement and delivery. Examples of negotiable instruments in the maritime industry include bills of lading, promissory notes, and checks. These documents are considered negotiable because they represent a monetary value and can be used as a form of payment or collateral. The transfer of negotiable instruments is an important aspect of maritime commerce, as it allows for the efficient movement of goods and the financing of shipping operations. The rights and obligations associated with negotiable instruments are governed by international conventions and national laws.
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