answersLogoWhite

0

Hi, Sea way bill is a type of a B/L (bill of lading). To understand it better v must understand the key features of a bill of lading n then see how sea way will differs from a regular type of B/L. B/L performs three functions: # document of title (negotiable) # evidence of the contract of carriage # proof of receipt of the cargo (by the carrier) A sea way bill performs only '2' and '3' and is non negotiable i.e. the ownershipf othe goods cannot be transferred by endorsing the sea way bill. So the cargo consigned under it can only be released to the named consignee on the Sea way bill. As such the original document is not required. Only the receiver need to identify themselves correctly. This document is more relevant for non commercial transactions, inter company stock transfers or where the bank L/Cs are not involved. Hi, Sea way bill is a type of a B/L (bill of lading). To understand it better v must understand the key features of a bill of lading n then see how sea way will differs from a regular type of B/L. B/L performs three functions: # document of title (negotiable) # evidence of the contract of carriage # proof of receipt of the cargo (by the carrier) A sea way bill performs only '2' and '3' and is non negotiable i.e. the ownershipf othe goods cannot be transferred by endorsing the sea way bill. So the cargo consigned under it can only be released to the named consignee on the Sea way bill. As such the original document is not required. Only the receiver need to identify themselves correctly. This document is more relevant for non commercial transactions, inter company stock transfers or where the bank L/Cs are not involved. Regards, Sudesh Chaturvedi, FICS-uk

User Avatar

Wiki User

16y ago

Still curious? Ask our experts.

Chat with our AI personalities

EzraEzra
Faith is not about having all the answers, but learning to ask the right questions.
Chat with Ezra
BlakeBlake
As your older brother, I've been where you are—maybe not exactly, but close enough.
Chat with Blake
ViviVivi
Your ride-or-die bestie who's seen you through every high and low.
Chat with Vivi

Add your answer:

Earn +20 pts
Q: What is a seaway bill?
Write your answer...
Submit
Still have questions?
magnify glass
imp