The goods a company ships does not end with simply selling, ordering, and shipping. There are documents behind every process. Here are the fundamental requirements that you must process for international shipping management.
Order receipt
A purchase agreement confirms receipt of an order. This record includes the information about the purchase, the people who ordered, the goods, and the transaction date.
Commercial invoice
After sending a proforma invoice to your foreign customer and receiving their order, you must arrange your products for delivery, such as the documentation needed.
List of package
A packing list is a transport statement that outlines the cargo's size, measurements, safety precautions, and packing method. The courier firm will use it to create the bill of lading or by banks to verify the fee under a letter of credit.
Bill of Lading
A bill of lading is a legal document that conveys ownership of commodities. In essence, it is a receipt from the shipping firm with an agreement to complete the job solely to the person who has been committed to the bill of landing at the location where transhipment floating will take place.
For a land bill of lading, this is the first paperwork required for export shipment. Inland carriers prepare it, or you manufacture it. An ocean bill of lading is required when shipping goods by the sea used as both a contract of carriage and a title document for goods.
On the other hand, an air waybill is required for plane shipments. The ship crew training is assigned to make sure your items are safe.
Bank Credit
A Letter of Credit guarantees delivery for items sold by a sender to a receiver. If the buyer cannot settle the purchase, the bank pays the balance. Usually, the seller's bank sends the bank draft and supporting documentation to the buyer's bank or a bank in the buyer's nation.
When the buyer authorises payment, the buyer's bank releases the paperwork and funds the seller's bank.
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