Recht aan order
Right to order
A claim embodied in an order instrument and transferable by endorsement.
An order right refers to a claim embodied in an order instrument, such as a bill of exchange, cheque or bill of lading. The instrument is drawn “to the order” of a specified beneficiary, enabling the right to be transferred by simple endorsement on the reverse of the document.
This mechanism is of particular importance in commercial and transport law, as it accelerates and simplifies the transfer of rights without the need for a separate assignment or deed. The holder of the order instrument may therefore act as the entitled party.
In practice, order rights are used primarily in international trade transactions and payments to ensure an efficient and secure chain of parties.
“The carrier acknowledged the right to order under the bill of lading and delivered the goods to the endorsee.”
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