Study these vocabulary notes

waybill	Ø	накладна
consignment	Ø	вантаж, партія товару
delay	Ø	затримка
avoid	Ø	уникати
pointless	Ø	безцільне
air waybill	Ø	транспортна накладна на вантаж, відправлений літаком
get round	Ø	вирішити, уникнути
consign	Ø	передати, відправити товар
consignee	Ø	отримувач вантажу

A waybill is a list of goods carried. A sea waybill is a transport document which gives details of a consignment of goods, and it acts as

a) a contract between the shipping company and the exporter (or overseas buyer); and

b) a receipt by the shipping company for the goods received, and so provides evidence of shipment.

A sea waybill is not a document of title. It is used instead of a bill of lading, the shipping company will deliver the goods to the consignee named in the waybill and it is not necessary to give the shipping company an original copy of the waybill.

But with a bill of lading, the shipping company will only release goods to someone who presents an original signed copy.

The advantage of a sea waybill over a bill of lading is that it might avoiddelays at the port of destination in handing the goods over the consignee. As we shall see later, a bill of lading might be necessary in order to carry out certain procedures to obtain payment for the exporter from the buyer for the goods delivered. If this is so, a delay through waiting for documents at the port of destination might be a necessary inconvenience. However, in cases where the exporter trusts the foreign buyer, and is willing to hand over the documents of title before receiving payment, a sea waybill might be preferred because delays at the port of shipment would be pointless.

Sea waybills might therefore be used to advantage:

a) if the exporter is sending goods to an overseas subsidiary;

b) if the exporter sells goods and treats the foreign buyer as a normal creditor.

A liner waybill is a sea waybill for goods shipped by a vessel on a scheduled journey, and which has a reserved berth at its destination.

Air waybill (also called an air consignment note or air freight note)

An air waybill is a waybill for goods transported by air. Like a sea waybill, it is a contract of carriage and a receipt by the airline for goods received into custody, and it is not document of title. The airline will hand the goods to the consignee at the airport of destination without the consignee having to present an original copy of the waybill.

Goods can be despatched by air very quickly, and this raises a problem for the exporter who wishes to obtain payment before giving control of the goods to the foreign buyer. To get round this problem, an exporter (or his bank) might consign the goods to a correspondent bank (or to the order of this bank) in the country of destination, subject to that bank’s consent. The correspondent bank would then only release the goods or documents as instructed.

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