A shipping bill format is an essential document for businesses involved in international trade. It acts as proof of export and is required for customs clearance and claiming benefits under trade agreements. It is also used for calculating the duties and taxes levied on exported goods. A shipping bill is legally binding between the exporter and the importer, and hence, it must be accurate and complete.
A shipping bill typically contains details such as the invoice number, date, shipping details, description of goods, quantity, value, weight, and other relevant information. This information is used by the customs authorities to determine the goods’ eligibility for export and calculate the taxes and duties levied on them.
What Is a Shipping Bill?
It is a mandatory document that is required for customs clearance and for claiming benefits under trade agreements. The purpose of a shipping bill is to provide proof of export to the customs authorities and to ensure that the exported goods comply with the regulations and laws of the exporting country. The shipping bill also acts as a legally binding document between the exporter and the importer and helps calculate the duties and taxes levied on the goods.
Types of Shipping Bills
A shipping bill is a document used in international trade to accompany the shipment of goods. Some of the different types of shipping bills include:
- Original Bill of Lading (OBL): This is the most common type of shipping bill used to provide a detailed description of the goods being shipped and their destination.
- Telex Release Bill of Lading: This shipping bill allows the consignee to receive the goods without the original bill of lading.
- Electronic Bill of Lading (eB/L): This is a digital version of the traditional shipping bill that allows for electronic processing and storage of shipping information.
- Express Release Bill of Lading: This is a simplified shipping bill that is often used for smaller, less complex shipments.
- Negotiable Bill of Lading: This type of shipping bill allows the holder to transfer ownership of the goods being shipped through endorsement and delivery.
- Straight Bill of Lading: This shipping bill is non-negotiable and can only be used by the named consignee.
- Charter Party Bill of Lading: This is a shipping bill that is used in the context of a chartered shipment and provides information about the chartered vessel and the goods being transported.
- Combined Transport Bill of Lading: This shipping bill is used when multiple modes of transport move goods from the point of origin to the final destination.
Elements of a Shipping Bill
The key elements of a shipping bill are as follows:
- Invoice Number: A unique identifier for the shipping bill.
- Date: The date on which the shipping bill was created.
- Shipping Details: The origin and destination of the shipment, including the mode of transport (air, sea, land).
- Description of Goods: A detailed description of the goods being exported, including their make, model, and specifications
- Quantity of Goods: The number of items being exported
- Value of Goods: The value of the goods being exported, including any additional charges such as insurance or freight
- Weight of Goods: The weight of the goods being exported, including any packaging material
- Other Relevant Information: Other information that may be required by the customs authorities, such as the HS Code (Harmonized System Code) and freight charges
These elements are critical for determining the goods’ eligibility for export and calculating the duties and taxes levied on them. It is important to ensure that the information provided in the shipping bill is accurate and complete to avoid delays or issues during customs clearance.
How To Create a Shipping Bill?
Here is a step-by-step guide to creating a shipping bill:
- Step 1: Preparation of the Invoice: The first step in creating a shipping bill is to prepare the invoice for the goods being exported. The invoice should contain detailed information about the goods, including the make, model, specifications, and value.
- Step 2: Filling Out the Key Elements of the Shipping Bill: The next step is to fill out the key elements of the shipping bill, including the invoice number, date, shipping details, description of goods, quantity, value, weight, and any other relevant information.
- Step 3: Signature and Authentication: The shipping bill must be signed and authenticated by the exporter and the authorised agent. The signature serves as proof that the information provided in the shipping bill is accurate and complete.
- Step 4: Electronic Filing of the Shipping Bill: Many countries now require electronic filing of the shipping bill. The exporter can either file the shipping bill through a designated government portal or a registered agent.
It is important to ensure that the shipping bill is accurate and complete to avoid any delays or issues during the customs clearance process. Businesses should also keep a copy of the shipping bill for their records.
Sample Shipping Bill Format Download
This is how a shipping bill should look:
FAQs on Shipping Bill Format
Here are some important FAQs about a shipping bill.
What is a shipping bill, and why is it important?
A shipping bill is a document used to declare the export of goods from one country to another. It is a mandatory document required for customs clearance and for claiming benefits under trade agreements. A well-prepared shipping bill is essential for smooth customs clearance and business operations.
What are the key elements of a shipping bill?
The key elements of a shipping bill include the invoice number, date, shipping details (origin, destination, mode of transport), description of goods, quantity, value, weight, and any other relevant information.
Who can sign a shipping bill?
The shipping bill must be signed and authenticated by the exporter and the authorised agent. The signature serves as proof that the information provided in the shipping bill is accurate and complete.
Is electronic filing of the shipping bill mandatory?
In many countries, electronic filing of the shipping bill is now mandatory. The exporter can either file the shipping bill through a designated government portal or a registered agent.
What happens if the information in the shipping bill is incorrect?
If the information in the shipping bill is incorrect, it may result in delays or issues during the customs clearance process. It may also result in additional charges or penalties. It is vital to ensure that the information provided in the shipping bill is accurate and complete.
A well-prepared shipping bill is essential for smooth customs clearance and business operations. By following the steps mentioned above, businesses can ensure that their exports are processed efficiently and effectively.
A shipping bill is an essential document for businesses involved in international trade. It serves as proof of export, enables the calculation of duties and taxes, and acts as a legally binding document between the exporter and the importer. A shipping bill must contain key elements such as the invoice number, date, shipping details, description of goods, quantity, value, weight, and any other relevant information.