Study On The Protections Of Bill Of Lading Right Under The Background Of Securitization Of Right

Bill of Lading has been developed to be a kind of securities today, which records and represents the specific civil rights, just like other documents of title such as commercial paper, warehouse, and equity capital and so on. By holding or transfer the securities, the holder can exercise and transfer these rights. The design of securitization of right is based on the needs of the development of commodity economy. It will promote the transfer of civil right and safeguard the security of society transaction by means of simplifying transaction procedures and strengthening protections of transferees.In the first chapter, the theoretical analysis starts from securities and securitization of right to nail down the essential attribute of securities and practical significance of securitization of right and make ready for the further discussion of the nature of securities of Bill of Lading. In the second chapter, there is an introduction of international legislations and domestic legislations relating to Bill of Lading to sum up the present legislation situations of securitization of Bill of Lading right. Combing with chapter one, there is a conclusion in the second chapter that Bill of Lading has the nature of securities and represents two kinds of rights, namely Bill of Lading right of credit and Bill of Lading real right, which are analyzed specifically. Fix on the utilization and limitation of securitization of Bill of Lading right through comparing Bill of Lading with commercial paper. In the third chapter, using mature modus operandi in the legal system of securities for reference, such as issuing system, endorsement and transfer system, Bona Fida acquisition system, loss and relief system and so on, combined with characteristics of Bill of Lading, to strengthen the legal criterion of production, transfer and not existence of Bill of Lading right, so that the advantage of securitization of Bill of Lading right can be brought into play, and exertion, transfer and realization of Bill of Lading right can be safeguarded. Suggestions will be proposed to improve Bill of Lading legislation in our country.As soon as Bill of Lading right is securitization, there should be strict systems to assist, otherwise the advantage of securitization of Bill of Lading right can't be brought in to play, and it isn't good to the development of international trade. Based on Bill of Lading legislation in our country is imperfect and some scholars who put forward to regarding Bill of Lading as securities rarely discuss it in detail, this article is hoped to be helpful to the perfection of Bill of Lading legal system and the practice of transportation, trade and judicature.