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Grow your Business by Outsource Bill of Lading Services

Last updated: 11 Feb, 2019 By | 6 Minutes Read

The Bill of Lading has singularly been the most important document in international commerce since the medieval times when the trade took to the high seas. While it all started out as a proof of shipment, it has today evolved into a document on which billions of dollars are pledged every day. This is because it can be negotiated between two parties immediately after shipment without waiting for the goods to reach the destination shores.

It is possible because Bill of Lading is considered to be an irrevocable proof of shipment and is a three-way instrument of faith between the exporter, the shipper, and the importer. Once the Bill of Lading is prepared, the importer’s banks will even pay to the exporter a part of the invoice value of the goods that have been shipped so that there is no blocking of capital for the duration the goods are in transit. In fact, it can be said that the Bill of Lading and its flexible characteristics have contributed a lot to a flourishing global trade scenario.

Given its importance, it is definitely beneficial to outsource Bill of Lading for the exponential growth of business.

As an exporter what are the advantages that you will get by adopting this course of action –

  • Being able to focus on core activities

By concentrating on the preparation of Bill of Lading, you will be diverting from the more important tasks at hand – negotiating deals with importers for your products and manufacturing and readying them for shipment. This will naturally affect your core activity and adversely impact business development.

  • Eliminating errors in Bill of Lading

There is no doubt that a Bill of Lading is a very complex document which must be accurate and fully error free for it to have some meaning and be negotiable in the international financial markets. The slightest deviation from these stringent standards will render it null and void, negating the value of the goods involved. As an exporter, you will have professional expertise and knowledge in your area of operation which will surely not include documentation and preparation of this document. Outsource Bill of Lading and you can be sure that it will be good for any form of transactions and negotiations.

  • Having customized Bill of Lading

While it is true that the format of a Bill of Lading is standardized with key fields being common, it often has to be customized to meet specific needs of the carrier and consignee so far as scheduling of shipment and its delivery is concerned. Trying to process it yourself will leave the doors open for inaccuracies to creep in, thereby jeopardizing the shipment and by default affecting your business. Let the professionals with in-depth knowledge in this field take care of the finalization of your Bill of Lading.

In a nutshell, then, your decision to outsource Bill of Lading will favorably affect your business growth because there will be an accurate and speedy preparation of the document thereby reducing freight payment cycles. This will result in a quick financial settlement of the goods bought from you easing your demand for working capital requirements.

Bill of Lading processing by outsourced agencies is done by professionals on advanced systems taking into account the finer nuances pertaining to individual shippers. It can be categorized as follows –

  • You have to fill up the basic fields with data about the goods to be shipped and upload it to the concerned outsourcing agency.

  • Experts, there will extract all data necessary for preparation of the document. These include a detailed description of the consignment and that of the consignee as well as the shipper.

  • The data so culled is entered in the system and scrutinized for any errors.

  • The final digitized document is then uploaded back to you correct in every respect.

  • The electronic Bill of Lading is the current avatar to the traditional format and has provision for digital signatures for all concerned parties thereby speeding up its preparation.

It is thus seen that by simply opting to outsource Bill of Lading you can facilitate your business growth and development through quick financial turnarounds.

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