Nvocc

Introduction Globalization has lead to an increase in the integration of national markets and the interdependence of Countries worldwide pay back opened their boundaries for a wide range of goods, services, and commodities. Today, in a globalised economy, no nation is self-sufficient. Every nation is involved at different levels in stack to sell what it produces, in order to gain what it lacks and likewise to produce more effectively than their partners. Maritime history, the study of human activity at sea, covers a broad thematic element of history that often uses a global approach.Freight forwarders typic everyy arrange cargo movement to an internationalistic destination. Also referred to as international freight forwarders, they engender the expertise that allows them to prep be and process the documentation and perform think activities pertaining to international shipments. Some of the typical information re resumeed by a freight forwarder is the commercial invoice, shippe rs export declaration, circuit card of lading and other documents required by the carrier or country of export, import, or transhipment. Much of this information is now processed in a paperless environment.A freight forwarder who does not own vessel, but functions as a carrier by issuing its own bills of lading and assuming responsibility for the shipments is called an NVOCC Non vessel Operating Common Carrier. Firm that ship cargo on behalf of its client. NVOCC functions like any other carrier, issuing its own bills of lading or air waybills. there are numerous benefits of using a Non Vessel Operating Common Carrier. They can besides help a company save time and resources because of their sense and immense knowledge of the cargo shipping industry.This knowledge includes information on what the most effective and efficient routes of delivery are, based on specific destinations. They have expertise in most of the constituents of cargo shipping, packaging, pickup and delivery. T his knowledge is institutional in providing a cargo with the best possible standards in accordance with international standards of delivery. Non-vessel operating plebeian carriers are considered to be oneness of the intermediaries in the shipping industry.The latest rightfulness in this area has defined the NVOCC as a common carrier which does not own or operate the vessels by which the ocean transportation is provided, and is a shipper in its affinity with the ocean carrier Latest law has defined the NVOCC as a common carrier which does not own or operate the vessels by which the ocean transportation is provided, and is a shipper in its relationship with the ocean carrier. NVOCC operators buy space from ocean carriers for consolidated shipments from a variety of clients.Documentation, logistical planning and warehousing of cargo from the port to final destination also are taken care of as part of the services provided. It was in 1951, when first intermodal modern day container was built and in 1955 first intermodal transport was operated. For the heading to stream line the movement of container from origin to destination, there were intermediaries at each stage in the system. Ocean Freight Forwarder, Custom Clearance Agents, Trucking Agency, railway Booking and Wagon Lease Agency, Container Freight Station, Port Clearance Agents, etc. Components Each time of the following three stages, i. . Inland Transportation at origin, trade route and Finally Inland Transportation at destination, a new Bill of Lading was importd and cargo was insured. With International Trade increasing in 1970s, efficiencies from containerisation led to trade of large volume and increased ocean carriers attention to ship with Full container load (FCL). That was the time when NVOCC emerged into the business. NVOCCs are considered as one of the intermediaries in maritime industry. NVOCCs went a way ahead in the business and provided end to end logistic solution even to small shipp ers. task Model for NVOCC follows as shown below.At the origin, a NVOCC plays a role of consolidator as well as packaging agency, whereby they take part parcels from various shippers and consolidate in one full load container. Increase in efficiency and low time turn out time in transportation from inland depots to gateways of port. some other concept of Multicity Consolidation (MCC) is also leveraged by NVOCCs. Once the cargo is placed in Container Freight Stations (CFS) or ware house at ICDs, warhead to a same destination is consolidated in one FCL. In this way NVOCCs filled a transportation niche, featurely for inland ports, as onsolidator for smaller shippers ignored or abandoned by the ocean carrier. NVOCC Bill of lading NVOCCs releases MULTIMODAL House Bill of Ladings (HBL) once they run a door-to-door service. They unwrap this HBL against shipper/final consignee whilst the Steam Ship Line issues a Master B/L (MBL) against the forwarder at origin and the forwarder at dest ination. NVOCCs play an important part in international trade. It is important that safeguards are in place to ensure the security of blank Bills of Lading, and there are systems in place to track them if they are misused.A NVOCC, who does not charter an entire ship, concludes contracts of bearing with several shippers/freight forwarders concerning individual shares or containers. When the NVOCC has accumulated an appropriate number of orders, he concludes a contract of carriage with a carrier who actually will perform the transportation. The NVOCC makes money by obtaining a better price from the carrier than he (the NVOCC) thrills his shippers. The main duty of a carrier consists of the unconditional and unlimited obligation to transport the goods from the port of loading to the port of destination.The commitment to fulfil the transport obligation is the only and decisive amount for a carrier. The salient features of NVOCC (Exports Sea) are as below ?Register Individual shipmen t, Shipping Bill wise. ?society multiple shipping bills under one HBL. ?Club multiple HBLs under one Master B/L. ? pass water and print Master and House Bill of Lading. ?Specify B/L Charges for various charge heads for both payment and receipts and in any currency. ?Prepare Challan report for HBL. ?Prepare and send Consol Manifest. ?A uncomparable Alert system which updates the user on current status of shipments based on shipment life cycle defined.These alerts can be mailed at one time to the customer. ?Prepare and send Shipping Advice to customer. ?Prepare and Print Container Load Plan (CLP). ?Shipped On board (SOB) or Shut Out report preparation. ?Track transhipment details of containers at various freight rate Hubs. ? confused Customer Service reports. Can be sent directly through email from system. ?Prepare and print various types of Invoices e. g. Services and Freight, Brokerage, Lifting Shifting etc. including to abroad Agent. The salient features of NVOCC (Imports Sea) are as below ?Record various details for Import Shipment. Maintain various stages of shipment in its life cycle. ?A unique Alert system which updates the user on current status of shipments based on shipment life cycle defined. These alerts can be mailed directly to the customer. ?Keep track of various charges related to a shipment e. g. Freight, Fuel Surcharge, Ex-Works etc. ?Prepare, print and send Cargo Arrival Notice (CAN) to Importer for collection of charges which are linked to Accounts. ?Receive or Send Delivery Order (DO) as the case may be. ?Checks for shipment under Bank Release Order (BRO) and controls issue of DO. Overseas Agents inward invoice/Credit/Debit Note can be booked into system for each shipment with profit sharing. ?A end Foreign Remittances module for payment and receipts with RBI and bank covering letters/forms. The salient features of NVOCC (Accounts) are as below ?Complete accounting package to suit specifically the needs of freight forwarding/NVOCC busin ess with multi location and multi division activity. ?Managing the accounts of individual profit centres combined with common accounting books. ?Prepare/ view trial balance/ profit and loss/ balance sheet for individual profit centres as well as entire company. Prepare and print all types of vouchers e. g. Cash/Bank payment and receipts and Journal vouchers. ? recognises and payments can be booked against particular invoices with TDS deducted details. ?Book Trade Bills i. e. related to a particular shipment e. g. Transport or Freight Debit notes. ?Facility for Non Trade bills where tracking can be had for each item in a bill e. g. stationery items, Telephones etc. with separate recording of Service Tax Charged. ?Complete Cheque Book Management module for tracking of checks bank wise and also cancelled and post dated cheques. Merge Data of different Branches in Head Office. ?Complete Security module for rights of each user to operate a certain part of software. ?Data can be exported to TALLY accounting Package. Working of NVOCCs at Various stages Warehousing & In plant Logistics Receipt Unloading into warehousing Inspection Storage including stacking Preservation Order execution Dispatch and loading into own/customers vehicle Yard Management Receipt of Cargo Inspection Storage Inventory Management Order execution Billing Dispatch to Customers Value Added Services Unpacking/Repacking Grading / SortingBreak-bulk Labelling / Bar Coding hop up Sealing / Shrink Wrapping Assembly related services Quality Check Information Related Services MIS on stock, dispatch KPI related MIS Invoicing related MIS Preparation / submission of Excise returns Invoicing Order Processing Invoice Printing Related Statutory Documentation Inventory Management Re-order Level Assessment & finalization Stock-aging & FSN analysis Distribution (Secondary Transportation) Transportation to Customers premises Unloading at Customers premises Transit Insurance (as required) Reverse Logistics Transpo rt Load Optimisation