What’s Freight Bill?
A freight bill refers to documentation that entails the cost and services for a freight shipment. It has transactional information as well as accessorial charges and the services rendered. In general, it explains the cargo involved in the freight shipment. It identifies the NMFC code where necessary and any additional details omitted in the bill of lading. A freight bill differs significantly from a bill of lading. The latter is legally binding, whereas the former has no legal grounds and is therefore invalid in the court. A freight bill is financial documentation instead of a bill of lading that looks more at the service-level data.
What Does Freight Bill Entail?
As a direct consequence of understanding a freight bill, it's important to note what it precisely entails. For example, an invoice number, the bill of lading number, the PRO number, the shipment weight, and quantity, carrier and consignee information, the transportation mode, and the cost of transportation and accessorial charges. A carrier’s freight bill involves the freight bill payment terms and conditions and other information regarding the business transaction. Processing a freight bill begins with the freight invoice received by a shipper, its validation, capturing of its data, and auditing, followed by cost accounting, completion of any other necessities, and finally, its payment.