Security Alternatives of Sea Waybill and Straight Bill of Lading

Abstract

Apart from the traditional bill of lading, numerous shipping documents have emerged relatively recently trying to offer a satisfactory solution to the bill’s crisis. Among them, sea waybills are very commonly used in contemporary transport operations, especially when bills of lading are not suitable and useful. In front of this development, many inquiries seem to arise, to which this article seeks to answer. In other words, the aim of this article is to analyse whether the sea waybill can provide security to lenders, such as banks, and to what extent. Answering to that question, the next inquiry is whether the straight bill of lading is tantamount to sea waybill or the traditional bill of lading, whatever this means regarding the legal implications, including, of course, the level of the furnished security.