A bill of lading is the carrier's receipt for the cargo, the evidence of the contract of carriage and, in its original negotiable form, a document of title. The type you choose decides who controls the goods at destination.
What is an original bill of lading?
A negotiable bill is issued in a set of originals. Whoever holds an original and presents it at destination can collect the cargo. For an exporter this is the strongest control, because the buyer cannot take delivery until you release the document, usually after payment or bank acceptance.
What is a sea waybill?
A sea waybill is a receipt and contract of carriage but not a document of title. The cargo is delivered to the named consignee without presenting an original; the consignee only needs to prove its identity. Problems such as a lost or delayed original disappear as well. It is quick and convenient, but you give up control once the goods are on board, so it suits open-account sales with a trusted buyer.
What is a telex or express release?
Here the originals are surrendered to the carrier at the origin, and the carrier authorises delivery at destination. It avoids courier delays and shortens waiting at the port. The risk is that control passes to the buyer as soon as the release is given, so do it only when payment is secured or the buyer is trusted.
In sales under a letter of credit the bank often asks for a full set of original bills, so a telex release or sea waybill may not meet the credit terms. Decide which type to use according to your payment method, before transport begins.
Which points need care?
Check the consignee, notify party and cargo description against the sales contract or credit; even a small spelling difference can cost you an amendment later. Ask whether the document is clean and shows the goods as shipped on board. Never release or surrender a document before you are comfortable with payment.
Practices differ between carriers and ports, so ask your forwarder which type applies to your booking.