The Bearer bill of lading document allows the vehicle/goods to delivered to the holder of it. The name of the consignee, to whom the vehicle/goods have been sent, perhaps the buyer, may be stated as “bearer”. It also is an “Order bill of lading document” without stating to whose specific order the bill of lading. And delivery of cargo under it, are subject or it could be an “Order bill of lading” indorsed in blank. That is without recognizing to whom the cargo should be delivered.
For an illustration, a master or agent may issue a bill of lading naming the shipper.
The bill of lading document may be an “Order bill of lading”, not naming the consignee or receiver but leaving the shipper free to indorse the name of the person to whom the bill of lading document will be transmitted. The shipper may then endorse the bill in the blank, with no identifiable name. And transmit the document to the buyer as the consignee. When the buyer has physical possession of the bill it will “Bearer bill of lading” and the vehicle/cargo will require to delivered to any person holding it and presenting it for cargo delivery.