What is FIATA FWR (Fiata Warehouse Receipt) and what are the differences between a FWR and Bill of Lading?
FCT certificate is a signed declaration of the freight forwarder in which he confirms to the consignor that he has taken over the goods and has assumed responsibility for delivery of the consignment as per instructions he has received from the consignor as indicated on the FCT document.
Warrant is a formal document that certifies or guarantees a receipt for goods that are being stored in a warehouse. The FWR is not a “warrant” in legal means. When a warehouse keeper is requested to issue a "warrant", the FWR cannot be utilized.
FWR is not a contract of carriage as a result it is not a transport document unlike bill of lading, multimodal bill of lading, air waybill, road transport document or rail transport document.
Why exporters and importers use a FWR certificate?
FWR is expected to be used in international transactions where Free Carrier (FCA) or Delivered at Terminal (DAT) trade term is chosen by exporters and importers.
According to Incoterms 2010 rules:
“Free Carrier” means that the seller delivers the goods to the carrier or another person nominated by the buyer at the seller’s premises or another named place.
“Delivered at Terminal” means that the seller delivers when the goods, once unloaded from the arriving means of transport, are placed at the disposal of the buyer at a named terminal at the named port or place of destination. “Terminal” includes any place, whether covered or not, such as a quay, warehouse, container yard or road, rail or air cargo terminal.
Seller can prove to the buyer that he has already delivered goods to the buyer’s forwarder at the pre-determined warehouse by presentation of a Fiata Warehouse Receipt. Also if the payment will be made via documentary collection or letter of credit, banks would request presentation of a FWR document.
What are the main characteristics of a FWR certificate?
FWR does not include a contract of carriage. For this reason it is not as a transport document in conventional means.
FWR certificate is not negotiable unless otherwise indicated on the document.
Stored goods can be delivered to the holder of the documents only against presentation of the original copy of the FWR certificate.
Depositor should endorse the FWR document in accordance with the conditions stated under “transfer of property” heading on the back side of the certificate.
If new owner of the goods would like to assign their delivery claim to another entity they should use the area titled with “cession of the delivery claim which is placed on the back side of the certificate.
In case of partial shipments would like to be effected, original Fiata Warehouse Receipt must be submitted to warehouse keepers every time.
What are the differences between a FWR (Fiata Warehouse Receipt) and B/L (Bill of Lading)?
What is FWR? What does FWR stand for? What are the key characteristics of FWR? Is FWR a transport document?
The FWR is an acronym which stands for "Fiata Warehouse Receipt". FWR is a sort standardized document format created by FIATA (International Federation of Freight Forwarders Associations) for general use in international and domestic trade. FWR has restricted to be used only by FIATA members.
Couple of decades ago freight forwarders have been providing limited services to their clients such as negotiating freight charges, booking cargo space and making freight consolidations. After the globalization freight forwarders have been expanding their services to new areas such as providing warehousing, tracking and on time delivery services with the help of modern information and communication technology.
Freight forwarders have to issue a receipt for the merchandise they take possession when they provide warehousing services. The FWR is a Warehouse Receipt which is a standard document for use in freight forwarders' warehousing operations in both national and international scale.