Question: What is a Waybill?
Answer: A waybill is a transport contract (contract of carriage) - the same as a bill of lading. A waybill, however, is not needed for cargo delivery but only issued as a cargo receipt. A waybill is not negotiable and cannot be assigned to a third party.
Question: What is the advantage of a Waybill?
Answer: Since a waybill is not a negotiable document, it is not necessary to surrender it at the destination in order to obtain cargo delivery. Use of waybills not only expedites cargo delivery but also simplifies the documentation procedure between shipper and consignee. Please be advised that some countries require a copy of the waybill to confirm the parties involved prior to the delivery order being exchanged.
Question: When would I use a Waybill instead of a Bill of Lading?
Answer: A waybill is used in lieu of a bill of lading for straight consignments whenever a letter of credit or similar banking arrangement is not involved in the sale of goods. The waybill is suitable for regular shipments between related companies which do not require settlements through banks or third parties.
Question: Can I use a Waybill and a Bill of Lading?
Answer: No, a bill of lading and a waybill may never be used for the same shipment.
Question: What information is required on a Waybill?
Answer: A new set of originals may be obtained by furnishing a letter of indemnity stating that "K" Line is not to be held responsible if the first set is found and surrendered. The letter of indemnity must be signed by the shipper (or his legal representative) and counter-signed by any reputable bank doing business in the U.S. or Canada.
Question: Can you telex release a Waybill?
Answer: It is not necessary to telex release a Waybill. Once "K" Line has flagged your cargo on its vessel manifest as moving under a waybill, this denotes an automatic or express release of the cargo upon its arrival.