Critically assess the argument that electronic bills of lading are better and more effective than paper bills of lading. This essay will answer the first part of the question by at first introducing bills of lading, their history and features and then explain what electronic bills of lading are. Bills of lading originated as a result of Mediterranean trading during the 11th or 12th century AD when records of the goods loaded (where the word ‘lading’ comes from) on to ships over long distances were
1.) Products and estimated market potential: The international market in PDAs (Personal Digital Assistant) is increasing every year. In the past, PDA’s were only expected to do simple tasks, like creating a schedule, alarm clock, calculations and other smaller tasks, which were seen as essential for businessmen. However today, the consumer range of PDA did increase immense. University students, teachers, small business owner, taxi driver and other type of occupations do require the need of an
TABLE OF CONTENT I. INTRODUCTION 1.1 General Information about organization. 1.2 Function of organization. 1.3 Achievement of organization. 1.4 Internship work in general. II. BODY 1. Description of internship 1.1 My day- to- day activities. 1.2 How to check documents well ? 1.3 How to fix documents ? 1.4 How to send documents oversea ? 2. Analysis and evaluation 2.1 The usefulness of internship work. 2.2 The evaluation. III. CONCLUSION I. INTRODUCTION ATLANTIC (USA)
introduction of incorporation clause The bill of lading under a charterparty is just a certificate of receipt for the charterer, the bill of lading is not to be seen as a contract of carriage of goods by sea due to the relationship between the shipowner and charterer under a charterparty. When the bill of lading issued by the shipowner is transferred to a third party by the charterer, the right-obligation relationship between the shipowner and the bill of lading indorsee will be effected by the international
other words a carrier that transports more than parties goods. If however a party contracts to employ an entire vessel, then that is know as charterparty. The following paper focuses on the Common Carriage and aspects such as bill of lading, the carriers duties under a bill of lading, the carriers immunities, liability limit, time limitations, and third-party rights. A general ship or a common carrier is a vessel that the owner or operator willing carries goods for more than one person. There are three
were eventually adopted by a diplomatic convention at Brussels in 1924 so they are also referred to as the Brussels Convention although they are normally called the Hague Rules. They represent the first effective internationally agreed control of bill of lading terms. Before the adoption of Hague Rules many ship-owners were undertaking no liability whatsoever. Some ship owners were apparently excluding virtually all or at a great deal of their liability. Such exclusion clause was valid which excluded
International Trade Law Case Study Introduction International trade transaction is essential for the sale of goods with the addition of an international element. In practice, the seller and buyer are in different countries where the goods must travel from the seller’s country to the buyer’s country by various means of transports. In international sale of goods, they usually transit the goods by sea because of the international transactions. Therefore, contracts for the carriage of those
considered very important, this passage is in fact the least considered article. This statement tackles about obligation of a carrier, not just to deliver the cargo successfully, but also to “carry the load with care.” The Act provides that every “bill of lading” shall effect subject to the Act’s provisions given that there is an evidence of a contract of carriage of goods by the sea from the US to other places in foreign trade. Under the Act, the carrier must ensure the proper and careful loading, handling
represent, an obligation. As far as a document of title to goods is concerned, the obligation is that the party with physical possession of the goods promises to deliver the goods to the holder of the document and to no-one else. In the case of a bill of lading, the party with physical possession of the goods
HEADNOTE: By the Carriage of Goods by Sea Act, 1924 , Schedule, Article I (b): "'Contract of carriage' applies only to contracts of carriage covered by a bill of lading... In so far as such document relates to the carriage of goods by sea, including any bill of lading... Issued under or pursuant to a charter party from the moment at which such bill of lading... Regulates the relations between a carrier and a holder of the same". By Article I (e): "'Carriage of goods' covers the period from the time when
to arrange for an insurance upon the terms current in the trade which will be available for the benefit of the buyer. Fifthly, with all reasonable despatch to send forward and tender to the buyer three ‘shipping documents', namely, the invoice, bill of lading and policy of insurance, delivery of which to the buyer is symbolical of delivery of the goods purchased. The seller pays all the charges till the loading of the goods in the vessel and insurance as per the terms. The seller then sends the documents
the greater. Documentation Admin charge for required shipping documentation. Lump Sum - Can be multiple items for different documentation. I.e. Shipping line Bill of lading / House Bill of lading / certificates of origin etc. Lump Sum - Can be multiple items for different documentation. I.e. Shipping line Bill of lading / House Bill of lading / certificates of origin netc. Customs Clearance Production and lodging of customs declaration. Lump Sum Lump
‘classic’ FOB contract is characterized as the aforementioned fundamental characteristic, in addition, the goods are placed on board for the buyer’s account and the bill of lading is procured by the seller in the buyer’s name. In the second type, the seller makes the essential arrangements without the buyer’s nomination, also takes the bill of lading in his own name
payment is due when “possession” passes to buyer, possession in this case being the title in the goods contained in a bill of lading. It was seen that the seller would be unfairly performing twice if he had to deliver the bill of lading and delivery of goods for it to amount to the buyer’s obligation to pay the seller. Further, a CIF contract meant that the delivery of the bill of lading when the goods are at sea can be treated as delivery of the goods themselves therefore the buyer was entitled to pay
1. Explain the importance of International Trade Finance in today’s context, with appropriate examples. (In general and with specific reference to India). (It should cover following aspects: Export finance, Import finance, Agencies involved, Eligibility criteria, procedure, rules and regulations, risks associated methods to minimize the impact of these risks etc.) In India any transaction which is denominated in a currency other than rupee or home currency is called as foreign exchange. In
Freight Freight is a price at which a certain cargo is delivered from one point to another. In other words, a charge paid for transportation of goods by land, air and sea. The price depends on the form of cargo such as truck, train, ship and aircraft, the weight of the cargo and the distance to the delivery destination. International Freight Forwarder A freight forwarder is a company or agent that arranges all importing and exporting of goods. These agents are familiar with the import rules and
The documents include bill of exchange, a copy of bill of lading, certificate of origin, commercial invoice, packing list, and other relevant documents. The importer makes payment to the bank and collects the documents. Step 8: Bill of Entry: This is a documents required in case of import of goods. It is like shipping bill in case of exports. A bill of Entry is the document testifying the fact that goods of the stated value and description
Admiralty Outline Overview Admiralty is federal law, originating in Article III, § 2 of Constitution. i. First Congress included Cases of Admiralty/Maritime in Judiciary Act. ii. Supremacy Clause. b. If say that case is admiralty/maritime case, governed by admiralty law, is to say that substantive admiralty law applies. i. Differences: statute of limitations, comparative laws for recovery, etc. a. Main: trial by judge. From very beginning, admiralty cases are w/o juries. May
Happiness Express, a toy company, was started in 1989 by Joseph Sutton and Isaac Sutton. The company took off quickly and was able to gain a share of the very competitive toy manufacturing market. In the first year of operation they earned a few thousand dollars in sales, but by their fifth year they had total revenues of more than $40 million. The business model for the company was designed to identify the latest children’s characters that would be most marketable in the United States. They accomplished
contract of affreightment, procurement policy of marine insurance, preparing commercial invoice and make a presentment of the documents in a reasonable manner for payment against documents. The letter of credit [LC] will contain official invoice, bill of lading, international sales daft