Importance of Bill of Lading

customs broker in the Philippines

In the logistics sector, a bill refers to any printed or written price statement for any products or services that are supplied or have already been shipped. The term lade, on the other hand, brings the cargo into a ship or some other type of carrier of goods.

Bill of Shipping is a log of the goods received on board that have been traded. It is a file or paper showing the arrangement or contract reached between the carrier and the shipper for the distribution of the goods. The shipping company or carrier gives the shipper these kinds of papers.

There are 2 forms of lading bills. A simple instruction is issued in a negotiable lading bill to allow delivery of the shipped goods to the correct destination. For the products to be issued the buyer or recipient should have a copy of this.

A non-negotiable lading bill, on the other hand, sets a particular consignee or name of the recipient to whom the package will be delivered or sent. Furthermore, it does not help to own the products. By verifying their identity, the recipient of the goods may then claim the shipment.

Check out and read this infographic to learn about the value of the lading bill.

For customs brokerage in Manila, or customs broker in the Philippines, contact Excelsior.