Bill of Lading(B/L)

A bill of lading is a transportation document which is issued by ocean carrier to a shipper with whom the carrier has entered into a contract for the carriage of goods. The named consignee of the holder of a bill of lading, provided he has received it in good faith through due negotiation, has a claim to title and, by surrendering the bill, to delivery of the goods.

 

Sea Waybill

Sea waybill is a receipt for the goods issued by the carrier. It is also an evidence of contract of carriage. But it is not a document of title to goods. It is not negotiable. In international trade, sometimes the goods have arrived at the port of destination, while the documents are delayed owing to the short voyage or the long time in handling documents on the part of the bank. Without the B/L, the consignee shall not be able to take delivery of the goods. In this case, the use of sea waybill will be more convenient to the consignee.

 

Air Waybill(AWB)

The air waybill is the consignment note used for the carriage of goods by air. It is basically a receipt of the goods for dispatch and evidence of the contract of carriage between the carrier and the consignor. This document is approximately the equivalent to the sea freight bill of lading, but the air waybill is not a negotiable title to goods in the same way as is an ocean bill of lading although it is widely used as a valuable receipt and evidence of dispatch and can be utilized within the framework of letter of credit, etc.