Letters of Conveyance are official documents used in international trade to describe securities remittance details, including shipment contents, transport means, and sender/receiver information. They may also include departure and delivery dates, carrier names, and tracking numbers. These letters facilitate processing at customs checkpoints and help law enforcement verify shipment contents.
Letters of Conveyance are documents that are commonly used in the world of international trade. The transmittal letter is used as an official document to describe the details of a securities remittance. Information on the nature of the securities purchased is included, as well as relevant data on the actual means of transport.
A typical transmission letter describes the contents of the shipment in sufficient detail so that identification and verification of the securities shipped can be easily accomplished. At the same time, the letter will include information about who is sending the securities and who is to receive the security shipment at the endpoint of the transfer.
It is not uncommon for a conveyance letter to provide information about the departure date of the shipment, the name of the carrier or carrier handling the security shipment process, and the anticipated delivery date of the shipment. Details may also include shipping or tracking numbers that allow the buyer and seller to track the progress of the shipment during the time of transport.
One of the main functions of a transmission letter is to provide a snapshot of the transaction that took place. While it will rarely include information about the purchase price of the securities involved, the letter of transmission will include the number of units included in the shipment. The details also generally provide a brief description of the security details involved, making it easier for law enforcement authorities to check the contents of the shipment at points of departure and at points of entry along the shipment route.
The use of a letter of transmittal is common to many types of international trade agreements. In conjunction with use in a security shipment, a letter of conveyance often accompanies a bill of lading for goods that are sold for delivery to a buyer in another country. The added level of detail can help facilitate processing at various customs checkpoints and thus avoid unnecessary delays in the delivery of goods.
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