Sea waybill

A sea waybill is a non-negotiable transport document that names a fixed consignee and is not a document of title. The carrier releases the goods to the named consignee on proof of identity, without surrender of an original, which avoids the delay and demurrage that arise when an original bill of lading lags the cargo. Sea waybills suit shipments between related companies or on open-account terms; they are unsuitable where a bank needs a title document as security under a letter of credit.