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Written by admin
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Wednesday, 20 August 2008 13:46 |
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A document used in airfreight and surface freight for the transmission of all relevant shipment information along the transport chain. It contains all details regarding the consignment and charges connected with the transportation elements of the transaction. It is a receipt and evidence of a contract of carriage but it is not a document or title. In sea transport there are advantages to using the Waybill instead of a Bill of Lading by virtue of the fact that there is no need to send a document of title to destination to secure delivery and the possibility of a requirement for a Letter of Indemnity arising is nil. The costs of producing a Bill of Lading is avoided and the waybill can be a paper document or an electronic message thus helping the use of paperless trading (electronic commerce).
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