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Showing posts from November 16, 2016

Sea Waybill (SWB)

Introduction to Sea Waybill A Sea Waybill is used in cases where no sale of goods is expected during transit (no change of consignee) and where the shipper and consignee trust that payment will take place and legal ownership of the goods can change without the use of an original B/L document. This trust may be built based on a long-term relationship between the seller and buyer, the fact that a Letter of Credit covers the shipment and ensures payment (provided the shipper fulfils the obligations set out in the L/C) or because it is an inter-company type carriage. The advantage of the Sea Waybill is that it allows less administration and fast release of the goods at destination because an exchange of original documents between the shipper and the consignee and between the consignee and the carrier does not have to take place. The first thing to note about a Sea Waybill is that it is a document issued by the carrier, also known as a VOCC (vessel-operating