Merchants during the medieval times developed a system which enables them to monitor the condition of their goods, as well as ensure its timely arrival to their clients. As worldwide trade started to reach more countries and continents, these concepts in the ancient practice of commerce eventually led to the use of bill of lading, an essential document when it comes in product transportation.
If you are planning to start an importing or exporting business, having some knowledge about the bill of lading can save you from a lot of trouble when moving your goods from one place to another. Also known as BOL, bill of lading serves as a legal document that validates the agreement between you, the shipper, and the carrier. It contains essential information, such as the type of shipment, quantity, and destination. Moreover, it can also be used as evidence in confirming that the condition of the products upon its arrival is almost the same based on what is listed initially on the BOL.
It is also worth mentioning that bill of lading is something that must always be kept with utmost care. Losing this document can result in delays in the arrival of your shipment, which can annoy your buyers. In case of any existence of damage in your products, you can quickly identify the responsible party as they are also indicated in the bill of lading. For those who wanted to experience an organized issuance of bill of lading, it is recommended to seek the help of a Non-Vessel Operating Common Carrier (NVOCC) and a customs broker in the Philippines.
There are other things that the bill of lading can do. If you want to learn more about this topic, you can read the infographic below or visit the official website of Excelsior, providers of high-quality freight forwarding and customs brokerage services in the Philippines.