Which of the following documents is not required in connection with an import transaction?
(a) Bill of lading
(b) Shipping bill
(c) Certificate of origin
(d) Shipment advice
Which of the following documents is not required in connection with an import transaction?
(a) Bill of lading
(b) Shipping bill
(c) Certificate of origin
(d) Shipment advice
An import transaction involves various documents, such as a bill of lading, certificate of origin and shipment advice. However, a shipping bill is not required for an import transaction—it is a document required in connection with an export transaction. In an import transaction, a shipment advice is sent by the supplier to the importer as proof of dispatch of goods. After the shipment of goods, the supplier prepares a set of documents, such as a bill of lading, certificate of origin and marine insurance, to be handed over to the banker for further transmission.
Hence, the correct answer is option (b).
An import transaction involves various documents, such as a bill of lading, certificate of origin and shipment advice. However, a shipping bill is not required for an import transaction—it is a document required in connection with an export transaction. In an import transaction, a shipment advice is sent by the supplier to the importer as proof of dispatch of goods. After the shipment of goods, the supplier prepares a set of documents, such as a bill of lading, certificate of origin and marine insurance, to be handed over to the banker for further transmission.
Hence, the correct answer is option (b).
