POCA Assignment #1

Roll 18BM61K16 Name Mayukh Mukhopadhyay

Letter of credit
A letter issued by a bank to another bank (especially one in a different country) to
serve as a guarantee for payments made to a specified person under specified
conditions.

Multiple Bill of lading

All exporters are not situated near seaport or airport. Most of exporters are situated
at different locations in inland points of each country. So, government of each
country makes arrangements to complete necessary legal export customs formalities
at different inland locations of country to facilitate exporters for smooth handling of
exports.

So, if the exporter’s location is away from the loading port, he can move the cargo to
nearest Container freight station (CFS) to complete necessary export formalities. If a
cargo is shipped from a CFS, goods are moved from CFS to nearest sea port after
customs clearance.

Once after completion of such export customs formalities by shipper, the carrier
accepts goods at exporter’s location and issues Bill of Lading. Here the carrier
moves cargo either by road or rail to nearest sea port and ship via sea to final
destination.

Here the carrier moves cargo by using two or more modes of transport between the
port of receipt of goods and final destination. So, if a carrier uses two or more modes
of transport, the shipper obtains a Multiple Bill of Lading. In a multiple bill of lading,
carrier uses more than one mode of transport to reach the goods to final destination.

Dock Receipt
A dock receipt is a documentary proof issued by the warehouse supervisor or port
officer or the ocean carrier or the freight forwarder certifying that the goods have
been received for shipment and they shall be taken for further delivery to storage
facilities.
Import License
An import license is a document issued by a national government authorizing the
importation of certain goods into its territory.

Certificate of Origin
A Certificate of Origin Declaration of Origin is a document widely used in
international trade transactions which attests that the product listed therein has met
certain criteria to be considered as originating in a particular country.

Inspection Certificate
Inspection certificate, sometimes called as certificate of inspection or pre-shipment
inspection certificate is a trade document used in international trade transactions,
issued generally by an independent inspection company after conducting a related
inspection, certifying whether or not the goods are in question are in conformity with
the specifications stated on the sales contract.

Certificate of insurance coverage

A certificate of insurance (COI) coverage is issued by an insurance
company or broker. The COI verifies the existence of an insurance policy and
summarizes the key aspects and conditions of the policy. For example, a standard
COI lists the policyholder's name, policy effective date, and the type of coverage,
policy limits, and other important details of the policy.

Without a COI, a company or contractor will have difficulty securing clients; most
hirers will not want to assume the risk of any costs that might be caused by the
contractor or provider.

Packing List
A packing list is a document that includes details about the contents of a package.
The packing list is intended to let transport agencies, government authorities, and
customers know the contents of the package. These details help each of these
parties handle the package accordingly.

Commercial invoice
The commercial invoice is a legal document between the supplier and the customer
that clearly describes' the sold goods, and the amount due on the customer.

The commercial invoice is one of the main documents used by customs in

determining customs duties. Unlike the Bill of Lading, the commercial invoice does
not indicate the ownership of goods nor does it carry a title to the goods being sold. It
is, however, required for customs clearance purposes to calculate and assess the
duties and taxes due.