Types of Bill Of Lading in shipping PDF Form

Federation of Freight Forwardersu2023 Associations in India (FFFAI)is the Apex Body and the Sole Representative of 24 Member Associations from all over India representing 5000 Custom House Agents (employing over 1,000,000 people)There are two major types of freight businessu2014a freight brokerage business and a freight forwarding business. Both sectors have a range of benefits and downsidesStarting a freight brokerage business:Freight brokerage businesses generally donu2019t handle any shipments themselves. They instead act as coordinators, matching suppliers with carriers. The role involves a great deal of communicationu2014soliciting clients, negotiating rates with carriers, tracking shipments, and arranging alternative transport if a problem develops in the supply chain.Starting a freight forwarding business:Unlike brokers, freight forwarding businesses often directly handle customer shipments. Depending on the size of the shipment and the destination, a freight forwarding business could collect goods from a customer, store them at a warehouse, group smaller shipments into one larger consignment, and even deliver them.You will need at least one vehicle for transportation, a secure storage facility for shipments, and potentially packing materials. If youu2019re planning on commissioning other carrier companies, you will also need to purchase logistical software.However, this increased responsibility also leads to increased liability. Where freight brokers largely act as salespeople, freight forwarders actually handle shipments and are therefore subjected to many insurance and licensing regulations.Funding and Investment: To setup a freight forwarding service in India, one will require a capital investment of approximately 12 crores. A pure third party logistics service will require investments ranging from 65-100 crores. Starting an Inland Container Depot (ICD) or Container Freight Station (CFS) requires investment of several hundred croresCompliance and Registration: In India, registration with International Air Transport Association (IATA), Air Cargo Agent Association of India (ACAAI) are very useful for freight forwarders. Other important registrations in India include:Directorate General of Foreign Trade (DGFT) registrationRegistration with the Income Tax DepartmentRegistrar of Companies and related Government Departments.Private limited company registration.Import export code (IEC).VAT (value added tax) registration.Employeeu2019s state insurance (ESI) or PF registration.Trademark registration, when there is a unique brand name.Other services:Insurance services : The freight forwarder will provide the client insurance services to make sure that if the items do arrive damaged, they will be reimbursed and not liable for the damages.Documentation: Documentation is important for the shipment of an item overseas. There are a number of documents that the freight forwarder needs to prepare for the shipment that requires specialist knowledge.Bill of Lading (BOL) u2023 The BOL is a contract between the owner of the goods and the carrier. There are two types of BOL; firstly a straight bill of lading which is nonnegotiable and secondly, a negotiable or shipper's order bill of lading. The negotiable BOL can be bought, sold, or traded while the goods are in transit. The customer will usually need an original as proof of ownership to take possession of the goods.Commercial Invoice u2023 The invoice is the bill for the goods from the seller to the buyer. It can be used to determine the true value of goods when assessing the amount of customs duty.Certificate of Origin (COO) u2023 The COO is a signed statement which identifies the origin of the export item.Inspection Certificate u2023 This document may be required by the customer to certify the goods have been inspected or tested and the quality of the goods is acceptable.Export License u2023 This license is a government document that authorizes the export of goods in specific quantities to a specific destination.Shipper's Export Declaration (SED) u2023 The SED is used for export statistics. It is prepared via the US Postal Service (USPS) when the shipment is greater than $500.Export Packing List u2023 This is a detailed packing list that itemizes each item in the shipment, what type of packaging container was used, gross weight, and package measurements.3. Packaging.4. Labeling.5. Why should I be aware of the HS Code and tariff and why is this information important to start my own shipping and freight business you may ask.6. I have been able to find a link of pdf which says Educational wing of Federation of Freight Forwarderu2019s Association in India. I hope this will be a help for you: http://fiata.com/fileadmin/user_...7. There is a blog by Vijay kumar chouhan related to the challenging opportunities for Freight Forwarders in India: https://www.linkedin.com/pulse/c...Itu2019s advisable to seek membership of an accredited industry organization. This will lend your new company some credibility, and help persuade potential customers to enlist your services. Here is the link of the FFFAI membership association Welcome to FFFAISome other few links Iu2019ve gathered for you:https://shippingandfreightresour...http://smallbusiness.chron.com/b...http://cerasis.com/2015/06/29/ho...https://bizfluent.com/how-694127...How to Start a Freight ForwardingWith my research Iu2019ve found out that most of the Freight Forwarder Entrepreneurs have asked the same question which youu2019ve asked. So I hope this research help you out. And have a great future ahead.

In order to get an export order one has to meet the buyer or communicate with them over internet, telephone or via physical exchange of letters.Once the terms of the contract for sale purchase is finalized the exporter has to start executing the export order. He has to ensure that he has import export number as issued by DGFT, government of India.He has to also arrange a good Clearing and forwarding agent who can ship he is goods to the buyer in the foreign country.Once the exporter has packed the goods, is ready to ship the good as per the Contract. You should contact the Clearing Agent and sign the exporters declaration form online declaring the value of the goods and the name of the buyer and the quantity and the and the ship through which the good will be sent.The customs will verify the declaration and ensure its clearance by allowing shipment to be exported.once the shipment is put on the ship the shipping company will issue a bill of lading which along with the EDF issued by custom , invoices, insurance and other documents will be submitted to the bank for collection and realisation of the same.once the payment comes from the buyer the bank will credit the foreign exchange in INR or foreign currency as per the instructions of the exporter and NOC of the invoice in their collection register as paid.

Suppliers present around the globe offers a wide range of goods that could match the terms of your business. You can also find low-priced supplies, giving you a competitive vibes, or new suppliers that allow you to sell a completely different product.While importing there is a number of things you will have to look after. This may varies from managing long-distance relationships to create international transport and customs clearance.1) Plan your import objectives Before starting your importing experience, it is a good idea to be clear about what you wanted to achieve. You may be looking China to find an inexpensive source of supplies, or to import products that are not available to sale your customers. At that same time importing should fit in with your overall business plan.u00a02) Identify a good, legitimate and reliable supplier Analyze the supplier is credit deserving or can meet your quality standards. You should evaluate your product quality and analyze that the goods you purchase are suitable or not. You have to know whether the supplier outsources any work to subcontractors.u00a0You also have to understand the culture of the Chinese market to develop a strong relationship with your suppliers. Mandarin the official language in China is becoming a most important language nowadays. By putting an effort to learn few short phrases in Chinese can help to establish mutual confidence.u00a03) Bargain the right deal By understanding your own strengths and weaknesses, and about your supplier's preferences, will helps you to bargain the best deal. Chinese believe that the potential business partners should develop a relationship and, if successful, commercial transactions will follow. The objective of developing close relationships is to build what the Chinese call guanxi, which are basically social and business connections based on mutual interest and advantage.u00a04) Reduce risk by having a clear contract it is very important to have a crystal clear contract setting out completely what payment and delivery methods you have to agree on. If you are using internationally agreed on Incoterms (International Commercial Terms) helps to decrease the risk of delivery problems or misunderstandings. The contract should also cover which payment is required, when and in which currency, and what payment method is applicable.5) Choose which method of transportation you are going to use When you are choosing that how you are going to import, then you have to decide whether to handle management by yourself, or outsource the work to a shipping forwarder.While importing from China the main ways are air and sea. If your business needs to transport bulk quantity but there is no burden to deliver quickly, shipping by sea may be the right option.6) Check if you need an import license May be you need an import license to import goods from China into other countries. There are import controls on a wide range of different goods.7) Online trading portals If you want to work smartly there is a way which helps you to grow your business smartly. Online trading portals is the offering you the platform to live your import, export experience. Here are some leading trading portals which will help you to grow your business globally.1.DHgate:The fastest growing wholesale and e-commerce website. This platform has almost 30 million products and 5 million customers in 277 countries. Having association with some of the renowned brands such as American Express, DHL, FedEx, MasterCard Visa and UPS, this particular platform guarantees you the success and expansion of your business.2. Global sources:This online business portal is the chief facilitator of trade with Greater China and is actually based in Hong-Kong. With a substantial amount of experience of over 46 years, this platform is known to have achieved the association of 94 of the top 100 retailers and wholesalers of the world.3. eWorldTrade:eWorldTrade started its operations almost a decade ago. The secondary branch of the company is operated from the USA while it has its branches are in different. This digital platform has associations with a considerable amount of over 500,000 business suppliers, traders, and buyers from around the globe.4. Indiamart:The platform is based and operated from India and in a few years has become one of the largest and fastest growing digital business platforms of India. The success of this portal is evident from the fact that Indiamart holds 60% of the market shares of online businesses currently running and operating in India.5. Alibaba:Developed in the late 90u2019s, this company is based and operated from China. With a widespread network of millions of well-connected businesses, traders and industries Alibaba has become a huge online business portal.6.Made-in-China:The origins of this online business platform are in China and it is run by Focus Technology Co. Ltd. Made-in-china mostly trades in markets and industries of Taiwan and China.