Sea Waybill (SWB)

A sea waybill (SWB) is the carrier's cargo receipt and evidence of the contract of carriage, but unlike a bill of lading it is not a document of title and is non-negotiable. The goods can only be delivered to the named consignee, who takes delivery at destination on proof of corporate identity—no original document required. It is effectively a built-in telex release.

SWBs fit situations where document-based control is unnecessary: intercompany shipments, long-term trusted partners, prepaid or open-account (O/A) deals, and e-commerce, samples, or low-value cargo. They eliminate the need to courier originals, removing the demurrage risk caused by document delays and the recurring telex-release fee.

Chinese exporters should note the key downside: once a sea waybill is issued, the seller largely loses control of the cargo—you cannot withhold goods until payment as you can with an original B/L, and it cannot be used for L/C bank financing. Use sea waybills only for trusted buyers with secure payment; for new buyers, unpaid shipments, or L/C transactions, stick with originals or telex release and release with care.