What is Custody Record?
Custody Record An official, time-stamped log or document recording every transfer of physical possession or control of a shipment, package, or asset along the supply chain, as required for security, liability, and regulatory compliance.
Source: Incoterms 2020 (ICC), FIATA, IATA DGR, WCO
How is “Custody Record” Used in Practice?
A custody record is completed at each handover point, noting the time, date, parties involved, and condition of the shipment for audit and compliance verification.
Certification Exam Relevance
Who Needs to Know This Term?
- Freight Forwarders
- Supply Chain Managers
- Customs Brokers
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What is Custody Record?
An official, time-stamped log or document recording every transfer of physical possession or control of a shipment, package, or asset along the supply chain, as required for security, liability, and regulatory compliance.
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