A Mate's Receipt issued by a ship's chief officer upon receiving cargo on board serves as an interim acknowledgment of receipt, but unlike a clean Bill of Lading, it does not constitute a negotiable document of title that can be endorsed to transfer legal ownership of the goods.
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True. A Mate's Receipt is an interim receipt acknowledging physical loading of cargo, whereas a clean Bill of Lading is a negotiable document of title capable of transferring ownership through endorsement.
The statement is correct because a Mate's Receipt is an interim document issued on board a vessel to acknowledge loading. It does not carry the legal authority of a document of title; that characteristic is reserved for the Bill of Lading, which allows the holder to transfer legal ownership of the shipment via endorsement.
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Anahtar Kavram
Distinction between interim shipping receipts and negotiable documents of title in foreign trade