They not only evidence receipt of cargo but also contract of carriage as well.
Additionally some transport documents title to cargo such as negotiable bills of lading.
Can an air waybill be issued to order of an issuing bank?
Transport documents are one of the most important document types in international trade business.
They not only evidence receipt of cargo but also contract of carriage as well.
Unlike bill of lading, air waybill is not a negotiable transport document, as a result it cannot be issued in negotiable form, which means that air waybill cannot be issued "to order of the issuing bank".
Today I want to explain what does negotiable transport document mean in export and import business and why an air waybill cannot be issued "to order of the issuing bank".
They not only evidence receipt of cargo but also contract of carriage as well.
Which transport documents can be issued “to order”?
Exporters and importers use various types of shipping documents in international trade such as financial documents, insurance documents, inspection documents, transport documents, legal documents etc.
Daily life in trade practice shows us that foreign trade professionals could not use especially transport documents properly.
Exporters and importers should learn the specifications of each transport document in order to prevent any mistakes.
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