Glossary term
Air Waybill
The transport document for air cargo: a contract of carriage and receipt, but not a document of title.
The document issued for goods carried by air. It evidences the contract of carriage and acts as a receipt for the goods.
Its important characteristic is what it is not. Unlike a negotiable bill of lading, an air waybill is not a document of title: possessing it does not entitle the holder to the goods, and the cargo is released to the named consignee. That single difference reshapes how payment is secured on air shipments, because a bank cannot control the goods by holding the document.
A master air waybill is issued by the carrier; a house air waybill is issued by a forwarder for cargo it has consolidated. Abbreviated AWB.