Air Consignment Note
Air Consignment Note or Air Waybill (AWB) is a document that acknowledges the receipt of the shipment of ordered products by a company dispatched by air. This bill or note usually has multiple copies. Normally, completed in triplicate with a copy each for the Consignor, Consignee, and the Carrier. Multiple copies help each party document the shipment.
An air waybill is not a document of title to goods in the same manner as a bill of lading but it is non-negotiable, hence, sports less flexibility and protection for the buyer. There is a good chance to mistake one for the other between the bill of lading and AWB.
Types pf Air Consignment Note
There are two types of air waybill depending on the involvement of the airline -
- Airline specific (name of the carrier, company logo, address of the head office, and AWB number already filled out)
- Neutral (same columns but comes as an empty form)
Use of the Term in Sentences
- Electronic air consignment notes would reduce the amount of paper used for documentation that comes with every shipment and that would, in turn, increase the security and safety of the transportations.
- The air consignment note is the detailed list of products along with the details of the sender and carrier and it turns out to be one of the most important documents in shipments.
More from this Section
- Financial Analysis
Financial analysis is the use of mathematics to bring important facts and relationships ...
- Active account
Active account refers to a brokerage account in which many transactions occur. Brokerage ...
- Financial advisory services
Financial advisory services is a range of services offered by banks that may include investment ...
- Commercial risk
Commercial risk— in banking, the likelihood that a foreign debtor will be unable to ...
- Controlled foreign corporation (CFC)
Controlled foreign corporation (CFC) refers to a foreign corporation in which U.S. shareholders ...