Rotterdam Rules: A Practical Annotation

11 Transfer of Rights Article 57. When a negotiable transport document or negotiable electronic transport record is issued 1. When a negotiable transport document is issued, the holder may transfer the rights incorporated in the document by transferring it to another person: (a) Duly endorsed either to such other person or in blank, if an order document; or (b) Without endorsement, if: (i) a bearer document or a blank endorsed document; or (ii) a document made out to the order of a named person and the transfer is between the first holder and the named person. 2. When a negotiable electronic transport record is issued, its holder may transfer the rights incorporated in it, whether it be made out to order or to the order of a named person, by transferring the electronic transport record in accordance with the procedures referred to in article 9, paragraph 1. NOTES [57-01] COGSA 1992 does not explicitly lay down how bills of lading within the Act need to be transferred and endorsed. In defining a “bill of lading” at section 1(2)(a) and “holder” at section 5(2), however, the Act implicitly reflects the assumptions which are made explicit at Article 57.