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Figure 1: Bill of lading

Figure 2: Air waybill

A bill of lading is an important shipping document in the shipping process. The bill of lading is a document issued by the shipping company or its agent acknowledging the receipt of goods on board the vessel and undertaking to ship any goods in the like order and conditions as received, to the consignee or his order provided the freight and other charges as specified in the bill have been duly paid. For the waybills, it is essentially a non-negotiable receipt for the goods. Its non-negotiability prevents it from possessing the general characteristic of the bill of lading. Waybill is needed for a document of title is reduced, thus reducing the opportunity for fraud. It is also essentially a document providing for the delivery of the goods to a named consignee who can prove his identity and no to other (Coyle, Novack, Gibson, & Bardi, 2011). There are some different between a bill of lading and a sea waybill which using by Mediterranean Shipping Company (MSC) (Mediterranean Shipping Company, 2014). In term of function, bill of lading known as a receipt for the goods shipped, a transferable document of title to the goods thereby enabling the holder to demand the cargo, evidence of the terms of the contact of affreightment but not the actual contract, and a quasinegotiable instrument. When the MSC shipper or agent becomes aware of the sailing cards or some form of advertisement, he communicates with the ship owner with a view

to booking cargo space on the vessel or container. It also provided satisfactory arrangements have been concluded, the shipper forwards the cargo. At this stage, it is important to note that the shipper always makes the offer by forwarding the consignment, whilst the ship owner either accepts or refuses it. For the waybill, it is primarily a receipt and also the evidence of the contract of carriage between the carrier and the shipper. Waybill known as non-negotiable document which not a document of title or ownership. It cannot be used to sell or transfer the goods while in transit (Brodie, 2006). MSC used bill of lading only can deliver the cargo after document has been presented and surrendered to the carrier. By using the waybill, MSC can only delivered to the nominated consignee or notified party. Then the consignee has only to identify himself at the port of discharge or final place of delivery. Next, is the different between a bill of lading and waybill in term of tradability. Bill of lading as a tradable document which is gives the possibility to sell the cargo while it is being transported (Coyle et al, 2011). The acceptable of this document as security by banks which can be held until payment is received. But for the waybill, it is cannot be traded and it does not provide a security since the shipper can vary the identity of the nominated consignee at any stage (Brodie, 2006). In addition, bill of lading requires a strong security with transfer and access since is a title of ownership. In the event, several suppliers have looked into securing an electronic signature. Electronic transfer of negotiable bills of lading can be performed provided there is a secure electronic signature. But in using the waybill, it can easily be transferred electronically since there is no value in the document itself. Then it is no need for electronic signature (Coyle et al, 2011). As conclusion, the main difference between a waybill and bill of lading which use by MSC is the bill of lading conveys title, the waybill merely serves as evidence that the consignee has contracted with the shipper to carry the goods to an identified destination. A waybill normally contains a list of the items included in the cargo by the shipper, the condition of the cargo and the name of the consignee. The shipper will endorse the waybill after acknowledging that the information provided on it is correct.

UNIVERSITI UTARA MALAYSIA


BPMG 3043 TRANSPORT INFORMATION SYSTEM
INDIVIDUAL ASSIGNMENT TITLE Analyse the differences between the bill of lading and waybill PREPARED TO Mr. Ishola D. Muraina PREPARED BY Lok Soo Feng 212584 GROUP A

Reference Brodie, P. (2006). Commercial Shipping Handbook. London: Informa Law. Coyle, J. J., Novack, R. A., Gibson, B. J., & Bardi, J. E. (2011). Management of Transportation, 7th ed. Canada: South-Western Cengage Learning. Giaschi, C. J. (2013). Bills of lading, waybills and the hague-visby rules. Retrieved from http://www.admiraltylaw.com/papers/Bills_of_Lading_ waybills_and_HR_Rules.pdf Mediterranean Shipping Company. (2014). MSC bill of lading and MSC sea waybill. Retrieved from http://www.mscgva.ch/bl_terms/bl.html

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