document, issued by a shipping line to a shipper, which serves as a receipt for the goods and evidence of the contract of carriage. In these respects it resembles a bill of lading (q.v.) but, unlike a bill of lading, it is not a document of title; it bears the name of the consignee who has only to identify himself in order to take delivery of the cargo. Because it is not negotiable, the sea waybill is not acceptable to banks as collateral security. The purpose of the sea waybill is to avoid the delays to ships and cargoes which occur when bills of lading are late in arriving at the discharge port.