What is the difference between a sea waybill and a bill of lading?
- A sea waybill is a cargo receipt issued by the carrier and is a contract of carriage by sea, but it is not a document of title. A bill of lading, in addition to being a cargo receipt and a contract of carriage, is also a document of title.
- A sea waybill specifies a definite consignee and cannot be transferred or negotiated. A bill of lading can be made out to order and can be transferred and negotiated through endorsement.
- The consignee on a sea waybill does not need to present the sea waybill itself, but can take delivery of the goods by providing a delivery order or identity proof. The legal holder of a bill of lading and the carrier deliver and receive goods based on the bill of lading.
- A sea waybill is a short-form document, listing the main items on the front, and generally does not include detailed cargo clauses such as the responsibilities, obligations, and exemptions of the carrier and shipper on the back, but it contains a clause that can refer to the terms on the back of the bill of lading. A bill of lading can be either short-form or long-form.
- Both sea waybills and bills of lading can be issued in "Shipped on board" or "Received for Shipment" form. The front layout, columns, and preparation method of a sea waybill are basically the same as those of a sea bill of lading, except that the consignee column on the sea waybill cannot be made out "to order" and must specify a definite consignee.
- Although both a sea waybill and a straight bill of lading have a specific consignee and are not transferable by endorsement, they are fundamentally different. A straight bill of lading is a type of bill of lading and a document of title, allowing the consignee to take delivery of the goods against it, while a sea waybill does not allow such delivery.
Detailed Comparison between Sea Waybill and Bill of Lading
Bill of lading is a document of title that is transferable, while a sea waybill is neither a document of title nor negotiable. Delivery of goods under a bill of lading requires the original document, while under a sea waybill, it requires identity proof. Bills of lading have slow circulation with risk of delay, whereas sea waybills are simpler to operate with high efficiency. Bills of lading are suitable for complex transactions like letters of credit, while sea waybills are suitable for related companies or transactions based on mutual trust.
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Recommendations for Choosing Between Sea Waybill and Bill of Lading
Choosing between a bill of lading and a sea waybill depends on the transaction terms: Letters of credit require a bill of lading. It is advisable to use a bill of lading when trading with unfamiliar customers. A sea waybill is more convenient for related companies or long-term cooperative relationships. For short-sea shipping, using a sea waybill is recommended to avoid the dilemma where the goods arrive before the original documents. For deep-sea shipping, a bill of lading is safer and more reliable.
