What Is a NVOCC?
NVOCC indicates Non-Vessel Operating Typical Carrier. NVOCC books large quantities of space and sells space to shippers in smaller amounts. NVOCC consolidate small shipments of LCL (less container load) and problems HBL (Home Bill of Lading). NVOCC also undertake the solutions provided by a freight forwarder. A freight forwarder is not typically a carrier buy act as a ‘carrier ‘legally as per Multi Model Transport Document Act. He is an expert in Supply chain management. A freight forwarder books big quantity of containers and sells to shippers with a lesser rate. Each freight forwarder has their overseas counter component to deal with each shipment. This helps the shipper and consignee for smooth handling of cargo compared to the service of direct shipping carriers. A freight forwarder also undertakes inland movements, arrange insurance coverage on behalf clients, undertake the activities of customs clearance and so on. In brief, a freight forwarder undertakes all company activities between a purchaser and seller.
Difference between NVOCC and Freight Forwarder
Is there any difference between a freight forwarder and NVOCC? Who is a freight forwarder? How NVOCC works? How NVOCC differs from a freight forwarder. This is a common question in international trade.
In this post let us talk about the difference in between a freight forwarder and NVOCC.
The distinction between NVOCC and Freight Forwarder The definition and act of a freight forwarder and NVOCC is described by the government of numerous countries differently. The legal obligations to the government, customers and public vary from country to country for an NVOCC and a Freight forwarder.
The NVOCC means Non-Vessel Operating Typical Carrier.
A Non-vessel-operating common carrier is a cargo consolidator who does not own any vessel but acts as a carrier legally by accepting needed responsibilities of a carrier who issues his personal bill of lading (or airway bill), which is known as Home bill of lading below sea shipment and House airway bill under air shipment.
Activities in between NVOCC and a freight forwarder are comparable to every other except some minor differences.
An NVOCC doesn’t need to be an agent or companion of a freight forwarding business, whereas a freight forwarding business can act as a companion or agent for an NVOCC.
Basically speaking, NVOCC acts a ‘carrier to shipper’ and ‘shipper to carrier’.
NVOCC can personal and operate their own or leased containers. NVOCC acts as a virtual carrier and accepts all liabilities of a carrier legally, in certain areas of operation.
Apart from the above, there are no major differences between a freight forwarder and NVOCC which is similar to each other. You can click right here to read much more about – What is NVOCC? How NVOCC can provide better rate than the main shipping carriers
I hope, the above explanation on the distinction between a freight forwarder and NVOCC suffice your requirement.
In this post, we have discussed Freight forwarder and NVOCC and their distinction. Do you wish to add much more info about NVOCC and Freight Forwarder? Comment below your thoughts about NVOCC and FREIGHT FORWARDER.