NON-NEGOTIABLE SEA WAYBILL

QUESTION

Dear Mr. Old Man,

May I request you to please explain me the difference between Negotiable & Non – Negotiable Sea Waybills in details if possible?

Thanks a lot for your time.

Abdul

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ANSWER

Hi,

No difference! Sea Waybill and Non-Negotiable Sea Waybill are One and Non-Negotiable.

Sea Waybill or Non-negotiable Sea Waybill is described as a document which is not a Bill of Lading but (a) is a receipt for the goods as contains or evidences a contract of carriage of goods by sea; and (b) identifies the person to whom delivery of the goods is to be made by the carrier in accordance with that contract.

Sea Waybill is neither a negotiable document nor a document of title. It is, therefore, not issued to order or be endorsed. Unlike Bill of Lading, Sea Waybill does not have to be tendered by the named consignee or its agent at the port of discharge or place of delivery in order to take possession of the goods there. The carrier will deliver the goods to the consignee named in the Sea Waybill when the consignee presents a document evidencing his identity.

For all above mentioned reasons, banks involved in financing LC transactions would not issue LCs which allow presentation of Sea Waybills.

Kind regards,

Mr. Old Man