![]() ![]() The PRO number is equivalent to the tracking number used for small-package deliveries, but it applies to the truckload and less-than-truckload industries. The progressive rotating order (PRO) or progressive number enables you to track where your shipment is on its route. This is a unique number issued by the logistics company to identify the document. Standard elements of a freight billįreight bills include the following: Invoice or freight bill number Like invoices, freight bills have standard elements. Just as each company has its own format for invoices, each logistics company has its own design for freight bills. Provides essential information on terms and modes of payment.Īcts as a legal document conferring title to the goods. ![]() Identifies goods, quantities, cubic volume and weight of goods shipped.ĭetails all of the carrier’s charges and services for both the individual and consolidated cost of shipments. That information will be found in detail on the freight bill.īut the freight bill and BoL are similar in one way: they both identify the cargo through product description, dimensions, quantities and weight. Another difference is the absence of any cost information on the BoL. This legal status illustrates the major difference between the BoL and freight bill. A BoL is necessary to process and invoice a shipment properly. The BoL proves you own or control and possess the goods described. In contrast, a BoL is a legal document between the shipper and the logistics company describing what’s being shipped, how much of it there is, and where it’s going. What is the difference between a freight bill and a bill of lading? In a world where supply chains are in upheaval, staying on top of your transportation costs can make a huge difference to your profitability. It also itemizes every penny of your costs.įor that reason, financial teams see it as key to analyzing transportation costs as well as planning future business projects. The freight bill presents detailed information about the shipment carried on your behalf. He says it’s essential that you know the difference between the two documents in order to protect your business from the risk of misunderstandings, shipment delays, and disputes between trading partners. Is the person really talking about a freight bill?” “When you hear the term freight bill, stay open-minded, alert. “The difference between a freight bill and a bill of lading is like night and day,” says Jean-François Laurin, a BDC consultant who helps entrepreneurs with international logistics and compliance. Growth & Transition Capital financing solutionsĪ freight bill, like any other invoice, informs you of what your business owes the logistics company for moving your freight.Īnother important freight-related document called a bill of lading (BOL) can also be referred to as a freight bill. Kauffman Fellows Program Partial Scholarship Venture Capital Catalyst Initiative (VCCI) ![]() Industrial, Clean and Energy Technology (ICE) Venture Fund ![]()
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