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Major Documents Required in World Trade(2)

The document similar to the ocean bill of lading is called airway bill15 for air transportation and railway bill, cargo receipt etc. for railway transportation.



The insurance policy and the insurance certificate20 are similar in function, the only difference being that the latter is a bit simpler than the former. The main contents of such insurance documents include:

1. the insured. Under CIF terms, the insured is generally the beneficiary of the credit unless otherwise specified, while under CFR and FOB terms, the insured is usually the importer.

2. cargo description including name, quantity, weight, shipping marks etc.

3. the amount insured and the risks covered./1 It should be noted that the currency of the amount insured should be the same as that of the credit.

4. contents concerning transportation including the carrying vessel, the port of shipment and the port of destination, the sailing date etc.

5. the place where claims are to be settled. Unless otherwise specified in the credit, the port of destination is taken as the place for settling claims.

6. the date on which the document is issued. It can be made earlier but by no means later than the date of the bill of lading.



Various certificates may be required depending on the nature of the commodity and the stipulations of the specific countries. The major types are certificate of quality; certificate of weight; certificate of quantity; certificate of health; certificate of disinfection; veterinary certificate; certificate of origin; etc. Other documents that may be required are customs invoice, consular invoice, consular visa24, shipping advice25 etc.

 

( liyy )08 Oct,2010

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