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The Hague Rules of 1924 (formally the “International Convention for the Unification of Certain Rules of Law relating to Bills of Lading, and Protocol of Signature”) is an international convention to impose minimum standards upon commercial carriers of goods by sea The Hague–Visby Rules is a set of international rules for the international carriage of goods by sea ….
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The master can deliver the cargo to the holder of a ‘bearer’ bill of lading . If a bill of lading shows a named consignee or named endorsee the person demanding delivery of the cargo must provide some evidence that it is the person identified in the bill of lading. As the bill of lading…
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Charter Party (C/P) : A C/P is defined as a contract between a ship-owner and charterers for the use of a ship or her cargo spaces, These are of three types : a) Voyage Charter party, b) Time Charter party, and c) Demise Charter party or Bare-boat Charter party. Voyage Charter party : 1. It…
General Principles (a) Freight No discussion on the subject of demurrage would be complete without a few words on the subject of freight. Freight is the return to the shipowner for undertaking the voyage requested by the voyage charterer. Freight can be contrasted with hire, which is the return paid to the shipowner by the time…
Bill of Lading : Functions of Bill of Lading : 1. Document of title – whoever holds the B/L is the Owner of goods, 2. Receipt for the cargo, signed by the master or by the owner’s port agents on behalf of carrier, with remarks as to the condition of the cargo, 3. Evidence of Contract i.e contract between two(2) parties,…
Everyone involved in the shipping and freight industry would have come across various clauses and stamps on a Bill of Lading.. There are specific reasons why Bill of Ladings have clauses typed or stamped on them .. Here we will discuss these clauses in relation to “containerized” shipments only.. Standard/Normal Clauses that appear on a…
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Noting Protest Noting protest may help resist cargo loss or damage claims on the owner. A protest is a solemn declaration made on oath by Shipmaster that circumstances beyond his control have, or may have, given rise to loss and / or damage to his ship or its cargo, or have caused him to take…
Mortgages : 1. Ship owners often take loans purchase of ships. For this purpose, the lenders and the ship owners enter into a contract giving the lender the right to realize the amount loaned by arrest and sale of the ship if and when the ship owner defaults in repayment on due dates. 2. Such…
One of the most important functions of a bill of lading is that it provides information as to the description of the goods, the condition of the goods, the quantity of the goods, the loading port and date of shipment, the discharge port, the name of the ship, whether freight has been paid and the…