Difference between Bill of Lading and Air Way Bill

Bill of lading and airway bill are the document issued by the carrier of goods while booking
cargo with them by shipper.
 
What is the Airway bill and how does airway bill work? What is the difference between BL and
AWB? 
Airway bill is issued by air carrier of goods on receipt of goods after completion of export
customs formalities of the country. Shipper obtains airway bill once after handing over cargo to
them. Since the cargo reaches by air and transit time is too less compared to sea shipment, a set
of airway bill is sent along with the cargo for immediate reference on transit and for import
customs clearance at destination port by importer. Once after completion of customs formalities
at load port customs location, cargo transfer manifest (CTM) issued by IATA agent along with
airway bill and other required documents for transportation submits to air carriers. Original
airway bills are issued in quintuplicate which is meant for carrier, importer, shipper and
additional copies. Once after arrival of cargo at destination, the importer or his cargo agent
approaches the destination office of air carrier and collect airway bill and other required
documents sent by shipper along with cargo for necessary documentation for import customs
clearance procedures and other references. Importer may also collect copies of documents by
courier or mail from shipper before arrival of goods. 
The shipper also can arrange to send airway bill and other documents through his bank to meet
LC requirements or he desires. 
The major difference between bill of lading and Airway bill is that, Airway bill is not a
document of title. However, airway bill can be prepared in such a way to treat as document of
title and negotiable document.
How does bill of lading work? 
What is bill of lading? How bill of lading works?.

Bill of lading is a document issued by sea carrier of goods on receipt of cargo to him from the
shipper. Bill of lading is issued to shipper after completion of export customs clearance
procedures at load port customs location of the country. 
After completion of export customs formalities, shipper hands over cargo to sea shipping carrier
or his agent. As proof of receipt of goods, sea carrier or his agent issues a document which is
called bill of lading. Bill of lading is generally issued in triplicate with non negotiable copies. BL
also is issued in quintuplicate on special request by shipper. 

Once after obtaining original bill of lading from the sea carrier, shipper submits bill of lading
with other documents with his bank, in turn bank sends to importer through importer’s bank.
Importer collects bill of lading and other required documents from his bank and arranges for
import customs clearance procedures. The shipper can surrender original bill of lading at load
port where BL has been released and arranges to send a OBL release message to the counterpart
office of sea carrier and advise them to release cargo without insisting for original bill of lading
from consignee. The shipper also can release Seaway bill where in no original bill of lading
procedures involved. 

In short, Airway bill is a document of proof of receipt issued by air carrier of goods to shipper on
receipt of goods for on carriage. Where as bill of lading is a document of proof of receipt issued
by sea carrier of goods to shipper on receipt of goods for on carriage