Common Shipping Terms: An A-Z Glossary [2023 Update]

Shipping has become an essential part of e-commerce, and the lingo associated with the process can be confusing. Whether you’re just starting a business and need to learn about the terms or are already shipping goods but want a refresher on all that there is to know, this A-Z glossary of common shipping terms is for you! From packing slips, tracking numbers, and insurance policies, we'll cover all important aspects of getting your product neatly delivered to its destination.

What is a Bill of Lading (BOL)?

A Bill of Lading (BOL) is a document that records the details of a shipment. It serves as a contract between the shipper and the carrier, as well as evidence of title to goods being shipped. The BOL includes information such as the origin, destination, and route of shipment; contact details for both parties involved; the type and quantity of goods being shipped; and any applicable terms or conditions.

In addition, copies of the document should be retained for future reference. The Bill of Lading is an important document that serves as proof that goods have been delivered and should be kept for the duration of a shipment's transit. Having an accurate and up-to-date BOL can help avoid costly delays and miscommunication between shippers, carriers, and customers.

What is a Freight Bill?

A freight bill is an invoice for services rendered by a carrier or shipper. A freight bill typically contains the name of the shipper and receiver, details about the shipment (such as an itemized list of goods shipped, number of boxes, total weight, etc.), shipping costs, any special fees or charges, and payment information. Freight bills are important documents in the shipping process, as they serve to validate that a shipment was received and all associated costs have been paid.

Freight bills also provide legal proof of the details of a transaction between shippers and carriers. This information can be used in cases of dispute regarding the quality or quantity of goods shipped, payment discrepancies, or any other issues related to the shipment.

What is a Packing List?

A packing list is an organized inventory of items that should be included for a given trip or journey. It helps travelers keep track of the items they need to bring and ensures that nothing important gets left behind. Packing lists can range from simple checklists to detailed, itemized lists with quantities and descriptions.

They are often tailored to specific trips or seasons, ensuring travelers have everything they need for a successful journey. Packing lists are essential for long trips and can even be helpful on shorter trips to ensure travelers don’t forget any important items. Creating a packing list ahead of time can help travelers save time, money, and stress by ensuring they have the right items before their journey begins.

What is a PRO number?

A PRO number, also known as a tracking number or reference number, is a unique identifier used to track a freight shipment. It is assigned by the carrier to easily locate and manage shipments in their system. This means it can be used to check the status of any given shipment along its journey from its origin to the delivery destination.

In addition, PRO numbers are used to process and pay invoices, as they are required when submitting billing information. This ensures that all parties involved in a shipment can accurately track the shipment’s progress and receive payment promptly. By using PRO numbers, carriers and shippers alike have improved visibility into where their freight is located at any given moment.

What is an invoice?

An invoice is a document that states the goods or services provided to a customer, and how much they owe for those goods or services. An invoice typically includes information such as the date of purchase, quantity, description of goods/services, unit prices, and total price. The invoice also serves as proof of the transaction between the two parties, which can be used for tax and accounting purposes.

Invoices can be sent electronically or manually via fax, mail, or email. In addition, invoices can also be generated and tracked online through specialized billing software. Invoices are an important part of any successful business as they help keep track of sales and customer relations.

What is a Waybill?

A waybill is a document that accompanies a shipment of goods and provides details about the consignor, consignee, route, and other important information related to the shipment.

Waybills are typically used for shipments sent via postal service or international courier services or digital marketing by Poonjan. They enable both the sender and receiver to track a package so it can be delivered without any issues.

Waybills also provide proof of delivery, which is important for insurance claims and legal proceedings related to the shipment in the case of a dispute.

By keeping an accurate record of waybills, companies are able to better manage their inventory and ensure that goods arrive where they should.

Conclusion

After reviewing this A-Z shipping glossary, you should have a better understanding of common shipping terms and how to utilize them in order to ensure efficient deliveries for your business.

With proper planning and deciding when to use which service and how best to optimize freight costs, you can save money and time when dealing with shipments. Keeping these common shipping terms in mind will also help you troubleshoot any issues quickly, should they arise along the way.