List of Basic Shipping Documents you should be aware of


31 August 2020


Shipping Documents

The shipping of goods involves interacting with different governments and commercial parties to transport goods from one place to another. In international shipping to be specific, rules should be properly maintained for the smooth transport of goods. There are a number of procedures and documents that need to be filled in.

Sanctioning of the order, specifying its origin, declaring its ownership are just a few of the many shipping documents that need to be arranged for the transport. Sellers, after discussing it with the buyers, must use proper incoterms on the products to increase their shipping potential. Even the payments are made on the basis of the arranged documents.

Therefore the importance of the shipping documents can be properly gauged from the above lines. Still, it can be really confusing for the sellers to arrange it all smoothly. So, to help the sellers, a list of basic shipping documents integral for international shipping has been compiled below-

Purchase Order:

This is the first official deceleration of the order received by the seller from the buyers. The purchase order defines what has been ordered, the quantity, its monetary value, and the parties taking part in the transactions.

Commercial invoice:

While the purchase order is the initial document declaring the purchase, the commercial invoice is the final receipt of all transactions between the buyer and seller. This contains the amount paid, yet to be paid, shipment details, carrier payments, and even the incoterms that guide the transaction.

The article is also used by the federal authorities to check the ownership of the goods and to identify individual organizations involved in the transaction. In a way, the commercial invoice summarizes the whole transaction procedure on a single sheet of paper.

Bill of Lading:

The bill of lading is an official contract signed between the owner of the goods and the carrier services be it ships or an airplane. By generating a bill of lading, the carrier agrees to carry the specified goods from one destination to another officially.

Therefore the bill of lading is an important shipping document as it makes the freight forwarders association responsible for the products they are transporting. This reduces the excessive pressure on the seller while the transport of goods. Similarly, when the cargo has reached its destination, the bill of lading is used to hand over the shipment to the importers by the carriers.

Packing List:

The packing list is a detailed itemized list of cargo. It includes the names, weights, volumes, and monetary value of every item being transported. Even the safety measures are taken as well as the packaging types are also mentioned in this list.

The packing list is the document referred to by the customs officials in case of any discrepancy in the cargo. It allows swift identification of the suspicious object and minimizes the damage to the other cargo. As a reference, it is used to make other shipping documents like the bill of lading. In some cases, the payment procedures via a letter of credit also depend on the submission of a packing list.

Packing List

Packing List should contain itemized details of the cargo

Letter of credit:

International shipping takes time and is very complex due to the several parties involved. Therefore a secure mode of payment needs to exist for the growth of trade.

A letter of credit is generally accepted as the most credible mode of payment among traders. This is issued by a reputed bank guaranteeing the payment to the seller within a specific period in case the buyer fails to pay the whole transaction sum in the specified period.

This payment can be obtained by the seller only after successfully submitting all the shipping documents to the specified bank.

Dock/Warehouse Receipt:

The condition of the product is integral while being transported from one place to another. In case of going for a long voyage, the shipment is stored in a dock/warehouse before being shipped off. The receipt generated here proves that the product arrived in good condition and is passed along as it is.

Certificate of Origin:

Certificate of Origin declares the country to which the product is manufactured and therefore belongs to. This is an essential shipping document because countries have different trade policies with different countries. Therefore if the origin country is unknown, the customs cannot charge proper taxes and other duties on the goods. It also helps to identify if transporting the goods is legal and conforms to trade ties between the countries.

Insurance Certificate

To minimize the risk in international shipping, insurance is taken on the shipment by the exporter. The insurance certificate certifies the insurance scheme and its value.

All these shipping documents together can give the parties involved the best experience of international shipping. Though a lot of the information in many of these documents is similar each serves its own purpose and is needed in different stages of shipping. To know about these in more detail, check out

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Tips For Protecting Your Overseas Shipments

The retail business is truly a global pursuit and if you run an eCommerce company, you probably obtain at least some of your products from other countries.But when you ship items overseas, there are additional risks that exist that don’t exist with domestic shipments.For this reason, you have to take extra precautions with your international shipments, from getting maritime insurance to choosing the right freight partner.Here are other tips to ensure your products get safely from point A to point B.PackagingDespite your best efforts, the people who handle your shipments at the docks may not handle them with care. This is why you need to ensure your products are packaged properly when they’re loaded on the ship.Since you can’t be there to package them yourself, it’s a good idea to partner with a logistics provider that offers specialty packaging services. These providers take care to put the right amount of cushioning in the package, the proper security seals on the outside, and an appropriate exterior to prevent damage during transit.Partnering with a logistics provider takes a lot of the guesswork out of shipping overseas. You don’t have to worry about the packaging from the manufacturer not holding up to the rigors of the sea because your logistics provider will take care of this for you.This is particularly important if you are importing fragile items like electronics, artwork, and glassware.Tracking and MonitoringIn the not-too-distant past, when you shipped products from overseas, you wouldn’t know if something happened to them until the ship arrived (or didn’t arrive) at its destination.Now, through innovative technology, you can track and monitor your shipments from origin to destination, even while they’re on the ship.Often, you’ll need a logistics partner to enable shipment tracking and monitoring for you, but the transparency you’ll have in the entire supply chain will be invaluable to both you and your customers.Onboard Courier ServicesSome shipments are so valuable that you might not want to leave them alone for the duration of the voyage. For these highly-sensitive packages, you can hire an onboard courier to maintain the chain of custody from the product’s point of origin to its final destination.Essentially, an onboard courier is a dedicated passenger who watches over your shipment for the entire trip overseas. When a package isn’t ever out of view of a courier, you can be sure it is protected and secure at all times.While this can be expensive, it’s often worth it for valuable shipments that simply can’t be lost, damaged, or stolen.InsuranceNo matter what you do to protect your shipments, unplanned events happen. For example, you can’t predict the sinking of a cargo ship or a squall that knocks your container overboard. It happens more often than you’d think. This is why you should always, always insure your shipments that are coming from overseas.ConclusionIt can be nerve-wracking to put your shipments in the hands of other people when shipping them overseas. Fortunately, by using these tips, you can protect your cargo as much as possible and if the worst happens, you’ll at least be reimbursed for your loss.Additional:Medical Delivery Service: What To KnowExecute the Perfect Expo with This Trade Show ChecklistComplex Supply Chains Network and Business Complexity3 Characteristics of The Best Wine Clubs You Can Join as An Avid Wine Drinker!

serial entrepreneur

Top 10 Best Serial Entrepreneur Of All Time – 2021 Update

Most of us are accustomed to the term entrepreneur. But in case you do not know what is a serial entrepreneur is, let me define a serial entrepreneur for you. A serial entrepreneur is someone who has more than one business in their bucket. They start one business, and then if they fail, they start another one. Or, in some cases, they sell the existing business in a great deal and start another one. What Are The Characteristics Of A Serial EntrepreneurInc. Magazine says a strong sense of optimism and a high impact threshold characterizes successful entrepreneurs. These qualities are necessary due to the high risks that they take and the long hours of launching a small company when success seems to be a mirage in the desert. They also show strong self-reliance and a desire to stay innovative. They understand that money is not everything. Entrepreneurs do not always have a guarantee of success when they open a chain of different businesses. Sometimes, just one business takes all of the focus of an entrepreneur.Top 10 Best Serial Entrepreneur Of All TimeHere are the top 10 entrepreneurs of all time. Who never fails to amaze us with their new innovative business ideas. Here are the serial entrepreneur examples.1. Anthony MongeluzoAt the age of 21, Anthony Mongeluzo started his first professional company from his parent’s house and took a step towards being a serial entrepreneur. And that is Pro Computer Services. He also had other companies when he was a teenager.He is also the CEO and President of an information technology firm in Marlton, N.J. After some time, PCS has gained regional as well as national recognition as one of the fastest-growing companies. With an annual revenue of $25 and 25 employees, PCS has offices in four states.Companies:PilotLight studiosPro Computer ServicesDynamic Telecom Solutions2. James CurrierAt the age of 6, James Currier started his entrepreneurial career as a worm seller, and now she is one of the best serial entrepreneurs. When he was in the 8th grade, he opened a store in his school cafeteria. By the time he graduated from Princeton University, he already had 18 little ventures in his bucket. Jiff Inc., which is well known for making HIPAA-compliant mobile software for the medical industry, is led by James Currier. He is not only the lead investor here but also the Executive Chairperson.He has also founded Palo Alto-based Ooga Labs. It helps to develop e-commerce and mobile startups along with medical software.Companies:TickleOoga Labs Jiff Inc3. Ellen ThompsonEllen Thompson has experience in starting and selling companies for more than 20 years. In 1993, Thompson founded a skill-testing firm named Know It All. In 2000, Kenexa Corp. had bought more than 300,000 shares. After she founded another company named 4 Walls, she is now the CEO of the company.This company is based near Philadelphia and helps apartment owners get customers via search engine marketing and social media. The list of serial entrepreneurs will be incomplete without this name.Companies:4 Walls.Know It All.4. Rod DruryThis New Zealand serial entrepreneur has had a fascination with computer technology since his teenage years, and he has transformed this fascination into his career. He helped found the software company Glazier Systems. In 1999, it was sold for around $7 million. He was also the founder of AfterMail, which is an email intelligence concern.In 2006, the QSFT, or Quest Software, acquired AfterMail for $15 million. At present, Drury is the director of the New Zealand Stock Exchange, the director and founder of Pacific Fibre, and lastly, the Chief Executive Officer of an online accounting portal, Xero.Companies:Pacific Fibre.AfterMail.Glazier Systems.5. Janet KrausJanet Kraus is the senior lecturer at the Harvard Business School and has already started and sold 2 businesses. She is the co-founder of the concierge service company Circles. With her hard work, she developed the company with a revenue of $50 million. In 2007, she sold Circles to Sodexo. Just after that, she started leading Spire. This is a high-end social media business that is related to travel.In 2010, it was sold to Perfect Escapes. He is another serial entrepreneur who finds it fascinating to start new ventures.Companies:Spire.Circles.6. Josh KopelmanThe managing director of First Round Capital, Josh Kopelman, is very fond of forming and investing in Internet companies. It has already been around two decades since he is doing this. In 1992, the Infonautics Corporation came to the public in 1996.At that time, he was attending the Wharton School at the University of Pennsylvania. Three years later, in 1999, he started, which is an online store for used music and books. But just after one year, it was acquired by eBay. He has also invested in several startups, like and Harpal SandhuHarpal Sandhu is the Chief Executive Officer and President of Integral Development Corporation. It is a  Sunnyvale, California-based company owned by this serial entrepreneur. It was 1993 when he was the co-founder of this company. This organization claims to be the only multi-sided trading network that works for foreign exchanges.Earlier, Sandhu was the president and founder of Infinity Financial Technology. In 1998, the software company SunGard Data Systems acquired Infinity Financial Technology.Companies:Integral Development CorporationInfinity Financial technology8. Gerard FerroIt has already been more than two decades since Gerard Ferro has been setting up and running technology and health businesses. He is also the co-founder and CEO of a prescription discount business, Free For All, which is based in Marlton. Gerer Ferro also cofounded a pharmacy benefits management concern, SUNRx. He was also the chairperson and CEO of the organization.Under his leadership, this company was able to gather a revenue of $49 million in its first five years. During the late 1980s, he was also the co-founder and CEO of Simacre.Companies:SUNRx.Simcare.Free For All.9. Oprah WinfreyOprah Winfrey is another shining star in the sky of serial entrepreneurs. When she was in high school, he started his career in the broadcasting industry. The media empire and her group of businesses across magazine publishing, radio, and television have made her a billionaire.As per Forbes, her estimated net worth was $2.8 billion in 2018, and she is the wealthiest woman in show business. In 2011, she launched OWN or Oprah Winfrey Network. The official website of OWN claims that 70% of homes in the United States have OWN.Companies:Oprah Winfrey Network.Harpo Productions.10. Richard BransonIn 1970, when Sir Richard Branson was around 20 years old, he started a mail-order record business. After that, it was time for a record shop in London. Within a couple of years, he built a studio, where “Tubular Bells,” an instrumental by Mike Oldfield.His Virgin Group now has around 200 companies in more than 30 different countries. Branson is also famous for promoting various social causes using celebrity power and his wealth. Being a prolific blogger, he also has written a book, which is published with the name “Screw Business as Usual.” Companies:Virgin group.11. Elon MuskAny list of entrepreneurs is incomplete without Elon Musk. He is the billionaire mind behind Tesla CEO and the richest person alive as of 2023. Musk’s first try at business was a small start-up called Zip2. It was a searchable business directory, which is an online equivalent of Yellow Pages. Four years after the establishment of Zip2 in 1995, it was sold to Compaq Computers for $307 million. Later, it was integrated into the AltaVista search engine. After the sale of Zip2, Musk moved on to build another company,, which is an online payments app that was later known as PayPal. The company was sold to eBay for $1.5 billion. Highly by the success he invested in and founded SpaceX, Tesla Motors, and The Boring Company. In 2022, he bought the social media company Twitter and renamed it X.Companies:Virgin GroupConclusionThey are those entrepreneurs who have never failed to come up with new ideas in case one fails or is acquired by others. They have a bucket full of new and innovative ideas to lead and build a successful career path. They are inspirations for this generation’s entrepreneurs who are willing to make their own identity.Learn More About:Mistakes Entrepreneurs Should Avoid When Using SMS MarketingStarting An Ecommerce Business: 9 Easy Tips For The New Entrepreneur5 Ways College Prepares Young Adults To Become Successful Entrepreneurs

Platform Companies

Platform Companies: What They Are And How They’re Used

Platform companies, also called platform acquisitions, are key steps in a private equity firm’s expansion into a new industry.The firm will first target a large, established business in the industry. From there, it will strategically acquire multiple smaller businesses, using them to expand its reach within the industry.Platform acquisitions don’t just benefit the private equity firm — they also have surprising benefits for owners of smaller companies. Here’s a quick primer on platform companies and how they work.How Does a Platform Acquisition Work?Breaking into a new industry can be tough, especially if you start by opening a new business. Private equity firms skip that step. Instead, a private equity firm will start by acquiring an established, successful business in the field.When selecting a company to purchase, private equity firms generally look for a few characteristics:Status as a Market Leader: For the best chance at success in the given industry, equity firms will typically target companies that stand out — even if it’s just within a certain geographical location or in a very specific market nicheA Strong Management Team: When equity firms acquire platform companies, they typically want to keep the existing higher-level employees to ensure the company’s continued success and improve the business practices of new acquisitionsMultiple Locations: A business with multiple locations has already expanded its reach, and equity firms can build on that with further acquisitionsEstablished Standard Operating Procedures: When expanding the platform company, the equity firm can simply apply these operating procedures to new acquisitionsAfter the purchase, the platform company serves as a kind of home base for the firm within the industry. The private equity firm will usually then expand that business through bolt-on purchases (also called roll-up purchases or roll-up acquisitions).Bolt-on purchases are different from another kind of acquisition called a tuck-in acquisition. With a bolt-on acquisition, the newly purchased smaller company will usually keep its name and identity. With a tuck-in acquisition, the smaller company is completely absorbed into the larger platform company.Why Would an Investment Firm Acquire a Platform Company?When private equity companies purchase a platform company and begin to expand into a new industry, they aren’t doing so with the intent of keeping the company forever. Instead, platform acquisition is a long-game investment strategy. It takes a significant amount of time, but it can generate a massive profit.In a nutshell, equity companies buy and expand platform companies in hopes of eventually selling the expanded company to an even larger investor. Selling the companies as a conglomerate is almost always more profitable than selling each one separately.For example, suppose that a private equity company wants to break into the fitness industry. The company might start by purchasing a regional chain of gyms.As it purchases other, smaller gyms, it will use the management expertise and existing operating procedures of the first acquisition to improve each of the smaller gyms. It will also invest money in smaller gyms to increase their value.When the company finally sells the expanded network of gyms, it will have created a profitable business venture that runs smoothly. This type of purchase is an attractive one for larger investors, so the equity company will be able to turn a significant profit.How Platform Companies Can Impact Business OwnersAt first, the idea of a larger company buying up smaller companies might not sound that advantageous to owners of small businesses. However, as a platform expands and acquires multiple smaller companies, those companies can see some surprising benefits.For one, platform companies will usually invest significant capital in the new company soon after purchase. After all, the whole point of the acquisition is to increase the total platform’s valuation.But money isn’t the only investment that platform companies put into smaller companies. After the acquisition, the equity firm will continue to focus on growing the newly acquired business.The newly purchased business will reap several benefits from the platform:Experience in sales and marketingExperienced professional managementFinancial acumenStandardized, organized operational proceduresIn many cases, these smaller acquisitions retain their company name. That makes the acquisition more appealing to many small business owners, especially those who have built their businesses from the ground up. In many cases, an acquisition ends up as a win-win situation: The platform company expands its reach and total value, and the smaller business receives valuable funding and mentorship.Platform Companies Add ValueBeing acquired by a platform company can transform a smaller business for the better. And for the platform company, each new acquisition has the potential to bring in new customers, expand the company’s market reach, and increase the value of the platform as a whole.On its own, the acquisition of a single small business might not seem like much. But when a firm repeats that process many times over, the result is an expansive, highly organized company that multiplies its value over time.Read Also:A Beginners Guide to Listed Investment Companies6 Steps to Starting a Business in MichiganHow to Start Business Like Swiggy