Explanation:

An import transaction involves various documents, such as a bill of lading, certificate of origin and shipment advice. However, a shipping bill is not required for an import transaction—it is a document required in connection with an export transaction. In an import transaction, a shipment advice is sent by the supplier to the importer as proof of dispatch of goods. After the shipment of goods, the supplier prepares a set of documents, such as a bill of lading, certificate of origin and marine insurance, to be handed over to the banker for further transmission.