Sea Waybill
What is a sea waybill?
A sea waybill, also known as a non-negotiable sea waybill or direct ocean carrier bill of lading, is a document issued by the carrier to acknowledge receipt of goods and confirm the contract of carriage. Unlike a traditional bill of lading, a sea waybill is not a negotiable instrument and does not require endorsement for the transfer of ownership. It serves as a receipt of shipment and a contract of carriage between the shipper and the carrier.
Sea waybill vs. bill of lading
While both documents serve as evidence of a contract of carriage, there are key differences between a sea waybill and a bill of lading. Unlike a bill of lading, a sea waybill is non-negotiable and does not confer title of the goods to the holder. It is often used for shipments where there is no need for a negotiable instrument or where the cargo is intended for immediate delivery to the consignee. In contrast, a bill of lading is a negotiable document that can be transferred to another party, allowing for the transfer of ownership of the goods during transit.