Sea Waybill

A Sea Waybill is a non-negotiable transport document issued by the carrier, evidencing the contract of carriage of goods by sea and the carrier's receipt or loading of the goods, but it is not a document of title. Unlike a Bill of Lading (B/L), a Sea Waybill cannot be transferred by endorsement; the consignee can take delivery simply by proving identity, without presenting the original document. Use cases: suitable for high-trust buyer-seller relationships, transactions not settled by letter of credit, intra-group transactions of multinational companies, open account sales, etc. Cautions: because it is non-negotiable, banks generally do not accept it as a negotiating document; if control of the goods is required, a Bill of Lading should be used. Difference from B/L: a B/L is a document of title, transferable, and delivery is made against the original; a Sea Waybill only evidences the contract of carriage, is non-transferable, and delivery is made against identity. Difference from a telex release B/L: a telex release B/L is still a B/L and requires the consignee to take delivery against a telex release guarantee, whereas a Sea Waybill allows direct release of goods.