Forwarders Cargo Receipt (FCR)
Definition of Forwarders Cargo Receipt
A Forwarders Cargo Receipt (FCR) is a document issued by a freight forwarder to the shipper or exporter acknowledging receipt of the cargo for shipment. It serves as proof that the goods have been received in good order and condition and that the freight forwarder has taken responsibility for the shipment.
When do you need a Forwarders Cargo Receipt?
International transactions are the main context in which an FCR is relevant, particularly when all parties agree to utilise the Ex Works (EXW) arrangement. Ex Works denotes that the seller assumes all risks and expenses associated with shipping your item to you, and delivering it at a certain location and time. Additionally, when making a payment with a letter of credit, banks frequently request to see this document.
What are the requirements of an FCR?
The Forwarders Cargo Receipt:
- Confirms cargo receipt for transportation.
- Verifies the completeness of the relevant paperwork.
- Outlines the terms and conditions of the forwarder-shipper contract.
- It is given out as soon as the shipment arrives at the goods forwarder.
- Does not verify shipment.
Who issues the Forwarders Cargo Receipt?
The FCR is issued by the freight forwarder, who is responsible for the transportation and delivery of the goods. This receipt serves as proof that the freight forwarder has received the cargo and is now responsible for its safe delivery.
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