When does an air waybill become negotiable?

An air waybill becomes negotiable when it is consigned "to order" of the shipper. This designation allows the shipper or the consignee to transfer the ownership of the goods described in the air waybill to another party simply by endorsing the document. This is an important feature for international shipping and trade, as it provides flexibility in transactional arrangements and facilitates financing options, such as using the air waybill as collateral.

In contrast, an air waybill that is not consigned "to order" typically indicates that the goods are consigned directly to a specific party, which does not allow for the transfer of ownership through endorsement. Other options, such as sending via express mail or securing a signature from the consignee, do not change the status of negotiability. An express mail shipment is about the speed of delivery rather than the terms of ownership transfer, and a signature from the consignee is mainly a form of acknowledgment rather than a condition that influences the negotiability of the air waybill. Thus, the key aspect of negotiability lies in the "to order" designation given by the shipper.