Nautical Term: Waybill
Definition of Waybill
A waybill is a formal document issued by a shipping line or transport company to a shipper or freight owner. This document serves multiple purposes – it functions as a receipt for the goods, demonstrating that the shipping line or carrier has taken possession of the cargo. Furthermore, the waybill acts as evidence of the contract of carriage, confirming the agreed terms, including the shipping line’s name, the shipping route, the cargo description, and the agreed freight charges.
Here’s an example of a paragraph utilizing a waybill:
On May 15, ABC Shipping issued a waybill to XYZ Manufacturing, who shipped 10 pallets of electronic components from their facility in Singapore to our warehouse in Rotterdam. The waybill served as both a receipt for the cargo and evidence of the contract of carriage, confirming the agreed terms between ABC Shipping and XYZ Manufacturing.
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