Glossary

Close-Out

Tags: Glossary

The finalization of all documentation and payments for a shipment.

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Al Sharqi Shipping is a leader in the logistics industry with more than 30 years of experience in guiding and moving freight across the globe.

What does Close-Out mean?

In shipping, close-out refers to the finalization of a shipment or transaction, including the completion of all necessary paperwork, inspections, and other activities related to the shipment.

When a shipment is closed-out, it means that all the necessary procedures, checks, and inspections have been completed, and the shipment is ready for final delivery or departure. This includes ensuring that all documents, such as bills of lading and customs declarations, are properly completed and signed, all cargo is properly secured and accounted for, and any necessary inspections or certifications have been obtained. 

Close-out is an important step in the shipping process, as it ensures that all necessary procedures have been completed and that the shipment is ready for its final destination. It helps to prevent delays and disruptions, reduce the risk of damage or loss of cargo, and ensure compliance with all relevant regulations and laws.

Related Glossary terms

Customs Brokerage

Customs Clearance

Customs Declaration

Customs Duty

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