Sea Waybill (SWB)
A non-negotiable ocean transport document that confirms the contract of carriage and receipt of goods, but unlike a B/L, cannot be used as a document of title.
In detail
A Sea Waybill (SWB) is an alternative to a traditional Bill of Lading used when speed of cargo release is more important than title transfer. Since it is non-negotiable, the named consignee can collect the cargo without presenting the original document — reducing the risk of cargo being held at port waiting for paper documents to arrive. SWBs are preferred when: the buyer and seller have high trust (e.g., intra-company transfers); the payment is pre-paid and there is no letter of credit; cargo regularly arrives faster than paper documents can be couriered. SWBs are NOT suitable for: letter of credit transactions (banks require a B/L); situations where the cargo may be sold in transit to a different buyer. The use of eSWB (electronic Sea Waybill) is growing — carriers such as Maersk and MSC offer electronic release as standard, eliminating paper document courier costs entirely.
Examples
- →Manufacturer sending components to their own Russian warehouse uses a Sea Waybill — no original document needed at destination