7.2.1 Waybills and Consignment Notes运单和托运单

7.2.1 Waybills and Consignment Notes运单和托运单

As B/Ls represent ownership of the cargo,they are negotiable transport document,meaning that they can be transferred when the cargo is in transit at sea.Transferring the B/L signifies selling thegoods.This feature of a B/L meets the needs of international trade by sea.But sometimes neither you nor the importer has the need to transfer the transport document,for example,when the importer has no intention to sell the goods in transit; when you buy or ship goods for yourself,or sell to a branch,a subsidiary or a regular or trusted customer.In these cases,a non-negotiable transport document,such as a sea waybill,an air waybill,a rail consignment note or a road consignment note,etc.can be employed,depending on your mode of transport.

These waybills or consignment notes share three important traits:They are the carrier’s receipt of goods and contract of carriage,but not document of title.They simplify transport and can be employed under certain circumstances,but they also pose risks and inconveniences for traders.For example,as they are not documents of title,they are not negotiable.Carriers thus can release the cargo to the consignee without requiring the original transport document from the latter,making it impossible for you to claim payment from the importer by controlling the cargo.And you must watch for the possibility that the importer takes delivery by simply proving his/her identity without making payment.This may even occur under a letter of credit.When that does occur,the credit effectively loses validity.Consequently,bankers are often reluctant in granting letters of credit to importers when this type of non-negotiable transport documents is employed for presentation,which in turn impedes the expansion of international trade.This is just the problem with further expansion of the China Railway Express.