What is FCR?
FCR: Forwarders Certificate of Receipt. The freight forwarder's certificate of receipt of goods. It is a document recommended by the International Federation of Freight Forwarders Associations (FIATA) to international freight forwarders within its organization.
From the literal meaning of FCR, this document is only a receipt issued by the freight forwarder after receiving the goods, not a transport document. However, according to the FCR sample issued by FIATA and the use of FCR, freight forwarders all record in a prominent position on the front of FCR: "We place the goods under the control of the consignee or hand them over to the consignee based on irrevocable instructions."
When the FCR only records "the goods are placed under the control of the consignee", the legal relationship between the freight forwarder and the consignee is a commission contract. The freight forwarder collects goods, consolidates containers, charters ships and books space for the consignee according to the consignee's instructions. At this time, the FCR only has the function of a goods receipt and is not a document for the carriage of goods by sea. Currently, many international supermarket buyers such as Wal-Mart, K-Mart, etc., mostly adopt this method.
What are the characteristics of FCR?
Several characteristics of FCR:
1.FCR generally only appears under FOB terms.
2. FCR is just a receipt, not a proof of title like a bill of lading.
3. FCR is like a cargo receipt, and anyone can issue it.
4. Importers can pick up goods without FCR.
5. The party apparently bearing the risk is the carrier.
The FCR issued by the freight forwarder is similar to the bill of lading in that both are proof of the contract for the carriage of goods by sea and a receipt for the carrier’s receipt of the goods. But there are at least the following differences between the two:
A bill of lading is a document by which the carrier guarantees delivery of the goods.
A bill of lading is a document by which the carrier guarantees delivery of the goods, but FCR does not have this feature.
This is the end of the introduction to FCR in this issue. If you want to get more information about FCR, please pay attention and we will continue to answer you~
