BCO (Beneficial Cargo Owner)
A beneficial cargo owner (BCO) is an importer that takes control of a shipment at the destination using their own logistics assets instead of utilizing a third-party source like a freight forwarder or NVOCC.
Beneficial Cargo Owner (BCO) is the party that ultimately owns the product being shipped. A BCO is often thought of as a term used only in the NVOCC or freight forwarder market, where BCO is also known as the importer of record. Referring to the importer of record, who physically takes possession of cargo at destination and does not act as a third party in the movement of such goods.
©2022 Seabay International Freight Forwarding Ltd. All rights Reserved