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Bill Of Lading
A bill of lading () (sometimes abbreviated as B/L or BOL) is a document issued by a common carrier, carrier (or their Law of agency, agent) to acknowledge receipt of cargo for shipment. Although the term is historically related only to Contract of carriage, carriage by sea, a bill of lading may today be used for any type of carriage of goods. Bills of lading are one of three crucial documents used in international trade to ensure that exporters receive payment and importers receive the merchandise. The other two documents are a insurance policy, policy of insurance and an invoice. Whereas a bill of lading is negotiable, both a policy and an invoice are assignment (law), assignable. In international trade outside the United States, bills of lading are distinct from waybills in that the latter are not transferable and do not confer title. Nevertheless, the UK Carriage of Goods by Sea Act 1992 grants "all rights of suit under the contract of carriage" to the lawful holder of a bill ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Carrier
A common carrier in common law countries (corresponding to a public carrier in some civil law (legal system), civil law systems,Encyclopædia Britannica CD 2000 "Civil-law public carrier" from "carriage of goods" usually called simply a ''carrier'') is a person or company that transports goods or people for any person or company and is Legal liability, responsible for any possible loss of the goods during transport. A common carrier offers its services to the general public under license or authority provided by a regulatory body, which has usually been granted "ministerial authority" by the legislation that created it. The regulatory body may create, interpret, and enforce its regulations upon the common carrier (subject to judicial review) with independence and finality as long as it acts within the bounds of the enabling legislation. A common carrier (also called a ''public carrier'' in British English) is distinguished from a contract carrier, which is a carrier that transpor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
FOB (shipping)
FOB (free on board) is a term in international commercial law specifying at what point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer under the Incoterms standard published by the International Chamber of Commerce. FOB is only used in non-containerized sea freight or inland waterway transport. As with all Incoterms, FOB does not define the point at which ownership of the goods is transferred. The term FOB is also used in modern domestic shipping within North America to describe the point at which a seller is no longer responsible for shipping costs. Ownership of a cargo is independent of Incoterms, which relate to delivery and risk. In international trade, ownership of the cargo is defined by the contract of sale and the bill of lading or waybill. Historical usage The term "free on board", or "f.o.b." was used historically in relation to the transfer of risk from seller to buyer as goods are shipped. There appears to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Letter Of Credit 3
Letter, letters, or literature may refer to: Characters typeface * Letter (alphabet), a character representing one or more of the sounds used in speech or none in the case of a silent letter; any of the symbols of an alphabet * Letterform, the graphic form of a letter of the alphabet, either as written or in a particular type font * Rehearsal letter in an orchestral score Communication * Letter (message), a form of written communication ** Mail * Letters, the collected correspondence of a writer or historically significant person **Pauline epistles, addressed by St. Paul to various communities or congregations, such as "Letters to the Galatians" or "Letters to the Corinthians", and part of the canonical books of the Bible ** Maktubat (other), the Arabic word for collected letters * The letter as a form of second-person literature; see Epistle ** Epistulae (Pliny) ** Epistolary novel, a long-form fiction composed of letters (epistles) * Open letter, a public letter as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Multi-modal Transport
Multimodal transport (also known as combined transport) is the transportation of goods under a single contract, but performed with at least two different modes of transport; the carrier is liable (in a legal sense) for the entire carriage, even though it is performed by several different modes of transport (by rail, sea and road, for example). The carrier does not have to possess all the means of transport, and in practice usually does not; the carriage is often performed by sub-carriers (referred to in legal language as "actual carriers"). The carrier responsible for the entire carriage is referred to as a multimodal transport operator, or MTO. Article 1.1. of the ''United Nations Convention on International Multimodal Transport of Goods'' (Geneva, 24 May 1980) (which will only enter into force 12 months after 30 countries ratify; as of May 2019, only 6 countries have ratified the treaty) defines multimodal transport as follows: "'International multimodal transport' means the car ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freight Forwarder
A freight forwarder or forwarding agent is a person or a company who co-ordinates and organizes the movement of shipments on behalf of a shipper (party that arranges an item for shipment) by liaising with carriers (party that transports goods). The carriers may use a variety of shipping modes, including ships, airplanes, trucks, and railroads, and often use multiple modes for a single shipment. A freight forwarder does not move the goods but acts as an agent in the logistics network and will carry out freight consolidation, rate negotiations, shipment tracking, customs and other documentation, among other tasks. FIATA describes a freight forwarder as the "architect of transport". International freight forwarders typically handle cross-border logistics and have additional expertise in preparing and processing customs documentation and performing activities pertaining to the regulations of different countries. Freight forwarders typically have information with respect to comm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bill Of Exchange
A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. More specifically, it is a document contemplated by or consisting of a contract, which promises the payment of money without condition, which may be paid either on demand or at a future date. The term has different meanings, depending on its use in the application of different laws and depending on countries and contexts. The word "negotiable" refers to transferability, and "Legal instrument, instrument" refers to a document giving legal effect by the virtue of the law. Concept of negotiability William Searle Holdsworth defines the concept of negotiability as follows: #Negotiable instruments are transferable under the following circumstances: they are transferable by delivery where they are made payable to the bearer, they are transferable by delivery and endorsement where they are made payable to order. #Co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charterparty
A charterparty (sometimes charter-party) is a maritime contract between a shipowner and a hirer ("charterer") for the hire of either a ship for the carriage of passengers or cargo, or a yacht for leisure. Charterparty is a contract of carriage of cargo in the case of employment of a charter boat. It means that the charterparty will clearly and unambiguously set out the rights and responsibilities of the ship owner and the charterers and any subsequent dispute between them will be settled in the court of law or any agreed forum with reference to the agreed terms and conditions as embodied in the charterparty. The name "charterparty" is an anglicisation of the French ''charte partie'', or "split paper", i.e. a document written in duplicate so that each party retains half. Types of charterparty There are three main types of charterparty: time, voyage and demise and another. * In a demise (or bareboat) charter, the charterer takes responsibility for the crewing and maintena ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rotterdam Rules
The "Rotterdam Rules" (formally, the United Nations Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea) is a treaty proposing new international rules to revise the legal framework for maritime affreightment and carriage of goods by sea. The Rules primarily address the legal relationship between carriers and cargo-owners. The aim of the convention is to extend and modernize existing international rules and achieve uniformity of International trade law in the field of maritime carriage, updating or replacing many provisions in the Hague Rules, Hague-Visby Rules and Hamburg Rules. The convention establishes a comprehensive, uniform legal regime governing the rights and obligations of shippers, carriers and consignees under a contract for door-to-door shipments that involve international sea transport. Although the final text was greeted with much enthusiasm, a decade later, little has happened. As of December 2019, the rules are not yet ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The UK includes the island of Great Britain, the north-eastern part of the island of Ireland, and most of List of islands of the United Kingdom, the smaller islands within the British Isles, covering . Northern Ireland shares Republic of Ireland–United Kingdom border, a land border with the Republic of Ireland; otherwise, the UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. It maintains sovereignty over the British Overseas Territories, which are located across various oceans and seas globally. The UK had an estimated population of over 68.2 million people in 2023. The capital and largest city of both England and the UK is London. The cities o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hamburg Rules
The Hamburg Rules are a set of rules governing the international shipment of goods, resulting from the United Nations International Convention on the Carriage of Goods by Sea adopted in Hamburg on 31 March 1978. The convention was an attempt to form a uniform legal base for the transportation of goods on oceangoing ships. A driving force behind the convention was the attempt by developing countries' to provide all participants a fair and equal chance of succeeding. It came into force on 1 November 1992. History The first of the international conventions on the carriage of goods by sea was the Hague Rules of 1924. In 1968, the Hague Rules were updated to become the Hague-Visby Rules, but the changes were modest. The convention still covered only "tackle to tackle" carriage contracts, with no provision for multimodal transport. The industry-changing phenomenon of containerization was barely acknowledged. The 1978 Hamburg Rules were introduced to provide a framework that was bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
