Air Waybill

Posted in Finance, Accounting and Economics Terms, Total Reads: 328
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Definition: Air Waybill

A document which works as a contract or a receipt issued by the person shipping any package to the person receiving the same. It contains all the details required about the package shipment. A standard Air Waybill has been adopted by the Airlines industry.

 

Explanation:

When you send or receive any currier there are chances that any malpractice may happen such as someone else to whom the package was not addressed took the package or any other thing. Ultimately the problem arises when the package is not delivered to the right person. So the concept of Air Waybill (AWB) was introduced, it works as a contract or a receipt between the shipper and the receiver containing all the required details about the shipment such as the destination, package code, contents, charges, conditions etc.

 

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