BILL OF LADING 583
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A bill of exchange -which is payable at a fixed number of days
after sight must be first presented for acceptance. The person
or firm to whom it is addressed, if they accept it, will write the
word " accepted " across the face of the bill, and duly sign
and date the acceptance At the expiration of the specified number
of sight days the bill is said to have matured, and is then payable.
There are, however, always three days of grace allowed beyond the
sight days, if required by the acceptors
An inland bill of exchange is one drawn and payable in the same
country; any other is a foreign bill.
A bill of exchange which is payable on demand or at sight must
be paid when presented, no days of grace being allowed in this case.
t If the holder of a bill of exchange, payable at some future date,
wishes to realise the money before that date, he can, if the bill be a
good one, get it discounted ; the banker who discounts it will pay
him the money, minus the discount at the current rate of interest.
Bill of Health.—A document stating the health of the port
with respect to infectious diseases at the time of the vessel's
departure. There are three kinds: clean, suspected and foul.
British ships obtain their bills of health from the British Consul
when leaving a foreign port, and from the Custom House when
leaving a British port. It must be officially stamped or signed by
the Consul of the country to which the ship is bound.
Bill of Lading.—A stamped document, usually signed by the
master acknowledging the receipt on board, of the goods described
in the bill, and undertaking to deliver them at the port of destination.
Requires a sixpenny stamp, which must be an impressed and not an
adhesive stamp. It must be stamped before being signed. Penalty
for signing an unstamped bill of lading, £50.
At the time of signing the bill of lading, the mate's receipt for
the goods referred to in the bill should be produced, and the master
should see that the bills accurately correspond to the mate's receipt
before signing them. The mate's receipts should bo preserved and
retained by the master.
Generally (but not always) there are three bills of lading to a
set. In all cases the number to be signed by the master is stated
at the foot of the bills. An unstamped and unsigned copy is retained
by the master for future reference.