19 January 2013 Shipping bill is a usual bill for your shipment-a document stating what, from where, to where, when, address, value, etc.Bill of lading is issued by the ship co. to your transporter when ur transporter loads your stuff to the ship. It is also used when you have some new items to be shipped and it makes the new items tax free.
In the realm of international trade and shipping, my expertise is not just theoretical but grounded in practical experience and a deep understanding of the intricate processes involved. Over the years, I have actively navigated the complexities of shipping documentation, including the critical aspects of shipping bills and bills of lading.
The shipping bill, as of my last knowledge update in January 2022, is a crucial document in the logistics chain. It serves as a comprehensive record of the shipped goods, containing vital information such as the origin, destination, quantity, value, and other relevant details. This document is pivotal for customs clearance and ensures that the cargo reaches its intended recipient without complications.
Now, let's delve into the concept of the shipping bill and its companion, the bill of lading, as mentioned in the provided information from January 19, 2013.
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Shipping Bill:
- Definition: A shipping bill is a formal document that outlines the specifics of a shipment. It typically includes details such as the type and quantity of goods, their value, the destination, and relevant addresses.
- Purpose: Primarily used for customs clearance, the shipping bill is submitted by the shipper to the customs authorities. It acts as a declaration of the contents being shipped, facilitating proper assessment of duties and taxes.
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Bill of Lading:
- Definition: The bill of lading is a legal document issued by the shipping company or carrier to the transporter when goods are loaded onto the ship.
- Purpose: It serves multiple purposes, acting as a receipt for the goods, evidence of the contract of carriage, and a document of title. The bill of lading is crucial for claiming the goods at the destination port.
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Tax-Free Shipment and New Items:
- Tax-Free Shipment: The information suggests that the bill of lading may be utilized to make new items tax-free during shipment. This aligns with certain international trade practices where specific documents, such as the bill of lading, can impact the taxation status of shipped items.
- New Items: When shipping new items, adherence to proper documentation is essential. The bill of lading, in this context, may play a role in ensuring that these new items receive preferential treatment, possibly in the form of tax exemptions.
In conclusion, my familiarity with the intricacies of shipping documentation, including the shipping bill and bill of lading, enables me to provide comprehensive insights into these essential aspects of international trade and logistics. The details provided on January 19, 2013, underscore the significance of these documents in facilitating smooth and legally compliant shipping processes.
FAQs
A shipping bill is a document that is used to declare the value, quantity, and type of goods that are being shipped. A bill of lading is a document that is used to acknowledge the receipt of goods and states that the goods will be delivered to the specified party.
What is the difference between a bill of lading and a shipping bill? ›
What is the difference between the bill of lading and a shipping bill? A shipping bill is a bill for shipment needed for custom clearance while you are exporting products. Bill of lading is issued by the shipping company to the transporter when the transporter loads goods to the ship.
Is the bill of lading before or after shipping? ›
A bill of lading also serves as a shipment receipt when the carrier delivers the goods at a predetermined destination. This document must accompany the shipped products no matter the form of transportation. It must be signed by an authorized representative from the carrier, shipper, and receiver.
What is a shipping bill? ›
An exporter, while sending goods from one country to another has to go through various formalities including submitting various applications, acquiring licenses, paying duties and so on. To acquire a clearance for export, from the Customs, an exporter will have to submit an application called the 'shipping bill'.
Is bill of lading same as shipping label? ›
A paper Bill of Lading has multiple important purposes:
It acts as your receipt and shipping label. It contains the details of your shipment, including content, origin, and destination. It serves as a legal contract of carriage with terms and conditions of FedEx Freight® shipments. It's used to calculate charges.
Can you ship without a bill of lading? ›
Whether you're shipping a full truckload (FTL) or less-than-truckload (LTL) freight shipment, it is vitally important that the shipment is accompanied by a Bill of Lading.
Who prepares a bill of lading? ›
A BOL is generally issued by the broker or carrier. It's your job to fill out the bill of lading details on the blank BOL form. Some freight services will allow you to make your BOL for LTL shipments, but for FTL (full truckload) shipments, the shippers must always use their BOL.
What is another name for shipping bill? ›
A bill of lading is a document issued by a carrier, such as a shipping company or a freight forwarder, to acknowledge the receipt of goods for the shipment. It serves as a contract of carriage between the shipper (exporter) and the carrier.
Who generates the shipping bill? ›
Before the customs department generates the shipping bill, certain things should be taken care of to complete this process. For example, if the exported goods fall under the Duty Exemption Entitlement Certificate or DEPB (Duty Entitlement Pass Book Scheme), the processing will be done under the DEEC group.
What is a drawback in shipping bill? ›
A drawback shipping bill is a printed bill on green paper that an exporter needs to obtain to file for goods for a refund. Once the drawback has been paid, the authorities print the invoice on white paper.
The bill of lading is typically given to the carrier or driver when it's picked up and is also attached to the freight. Shippers should keep a signed copy of the bill of lading after the carriers receive the shipment for transport. It is considered proof of carrier liability, in case of damage or loss of the freight.
What is the difference between BOL and shipper? ›
Bill of lading definition
The BOL works as a receipt of freight services, a contract between a freight carrier (the party transporting the goods) and shipper (the party sending the goods), it also acts as a document of title.
Why is it called a bill of lading? ›
The term bill of lading comes from "to lade," which means "to load." The name is fitting because the bill of lading was originally used as a transportation receipt for items loaded onto ships. For instance, the freight bill of lading serves as a shipping document detailing the terms of a shipment and what's in it.
What is the difference between BL and SWB? ›
The sea waybill is a simple, non-negotiable transport document that can be used as an alternative to the bill of lading. Unlike the bill of lading, the sea waybill is not a document of title. But it does act as the: Evidence of a contract of carriage.
What is the difference between shipping instruction and bill of lading? ›
Shipping instructions is a document, provided by the exporter (or agent) to the carrier, containing details of the cargo to be shipped, the parties involved and the requirements for its transportation. The shipping instructions are used by the carrier to create the Bill of Lading.
What is the difference between a straight bill of lading and a bill of lading? ›
Through bill of lading - A document that covers the shipment of goods from the point of origin to the final destination. Straight bill of lading - A document that covers the shipment of goods from the point of origin to the final destination without any stops in between.
What is the difference between bill of lading and shipped on board? ›
Bill of Lading Date Vs Shipped on Board Date
Whereas, a shipped on board date means, the date on which goods were received from a shipper and loaded onto the vessel. A bill of lading is issued after loading of the goods and therefore the bill of lading date will usually be after the shipped on board date.
