Bill of Lading (B/L)

Bill of lading is a type of ocean shipping document issued by the vessel carrier. It included two types. A straight bill of lading is nonnegotiable. A negotiable or shipper's order bill of lading can be bought, sold, or traded while goods are in transit and is used for many types of financing transactions. The customer usually needs the original or a copy as proof of ownership to take possession of the goods. Finally, the original B/L will be surrendered to the carrier at the destination port.

Bonds

Customs surety Bond is required by law that the importer of record need to have a bond to protect the revenue of US government and compliance with other customs regulations on every each importation. If the importer failed to comply with the regulation, Customs will notify the surety company and claim the liquidated damage against the bond holder. Normally, the merchandise valued over $2000 need to be covered by a bond. The importer can either choose to purchase the single transaction bond which cover the shipment base on a single entry summary or the yearly continuous bond.

Bonded Warehouse

The U.S. Customs Service authorizes bonded warehouses for storage or manufacture of goods on which payment of duties is deferred until the goods enter the Customs Territory. The goods are not subject to duties if reshipped to foreign points.