Documents Used in International Trade
International trade occurs between different countries through the exchange of goods, capital and services that represent a significant share of gross domestic product. This has been brought about by globalization, industrialization, advanced transportation and multinational corporations. Every new exporter is faced with a barrier of unfamiliar legislation, documents and jargon. This blog explains some of the documents associated with international trade and outlines procedures involved.
1.Bill of Lading
This document is used when goods are transported by ship. It is a contract between the shipper and the exporter, it is the shippers receipt for goods that act as claim of goods. The document is usually prepared as an original plus one or more copies whereby the exporter is given the original copy. To learn more on international trade, enroll for basic in shipping and logistic course at Finstock Evarsity College.
- Air Waybill
The document is issued when the mode of transport is by air. It is receipt which constitutes evidence of the existence of contract of carriage. The document is used to control and progress the passage of goods through all its stages.
3.Road Waybill
Road waybill is issued where the mode of transport is over the road. Goods also carried internationally by rail are also covered by this documents. The document is not negotiable document or title of ownership. The designated consignee must produce a proof of identity before receiving the consigned goods. Having knowledge on this will save you too much stress on unfamiliar legislation of your goods, enroll at Finstock Evarsity College for Transport and Logistics course and get equipped with skills and knowledge on the easy ways documentation of exports internationally.
