However, as the delivery date approaches, you receive a call from the customs authorities. They inform you that your shipment has not cleared customs and is being held at the port due to missing documentation – specifically, the crucial shipping bill. Without this document, the customs ...
The bill of lading acts as a shipping receipt when the goods arrive at their intended destination. The invoice must be shipped along with the goods sold and should be signed by the shipper and the person receiving the shipment. The term bill of lading is most often used in reference to in...
The term ‘telex release’ has stuck on to date even though the message to release cargo without the original bill is conveyed through email or by other electronic means. Earlier this message was conveyed by sending a telex message. Express Release In an Express Release, the carrier, after co...
A shipping invoice is also known as a bill of lading. Find out what a shipping invoice is, and what it’s used for.
The Waybill is attached to the exterior of the shipment, so that anyone handling it has easy access to the information. Waybills contain tracking ID, meaning the shipment can be monitored in real time. Certificate of Origin As the name suggests, a Certificate of Origin veri...
Free on Board is a shipping term for the point in the supply chain when a buyer or seller becomes liable for the goods being transported. Free on Board (FOB) is a shipment term that defines the point in the supply chain when a buyer or seller becomes liable for the goods transported. ...
The rate for the freight and total amount should be specified. The date of collection is specified. A special reference number may be applied to allow tracking. Terms of payment are also included. The Bill of Lading is usually issued in three copies, one for the shipper, one for the final...
What is LC Letter of Credit in export import business Is Letter of Credit (LC) a safe mode of payment for an Exporter? Difference between let export date and shipment date. Difference between let export order and pass out Export procedures for Essential Oils, Perfumery Cosmetics or Toilet Prep...
In the meantime, you can stay up to date on the changes by visiting the NMFTA website and using their NMFC Item Lookup Tool. Shipping goods is a complex dance of logistics, regulations and classifications. In transportation, "freight class" is a key concept, covering how goods are ...
Also known as accrued liabilities, these are expenses incurred but not paid for during an accounting period, such as utility bills. Electricity is generally not paid upfront. It’s possible the electricity consumed in October won’t be paid until December. This needs to be recorded as an accr...