the character of maritime industry’s transaction has historically been perceived as somewhat international trade and international law. However‚ over the past decade‚ the trend forward adoption of divergent of the law relating to carriage of goods under bills of lading is highly problematic. Nowadays‚ there is the parallel existence of three sets of international conventions: - The Hague Rules (Bills of Lading Convention‚ Brussels‚ 25th August 1924)‚ entered into force 2nd June 1931. - The Hague – Visby
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International Standard Banking Practice BILL OF LADING Application of UCP 600 Article 20 91. If a credit requires presentation of a bill of lading (“marine”‚ “ocean” or “port-to-port” or similar) covering sea shipment only‚ UCP 600 article 20 is applicable. To comply with UCP 600 article 20‚ a bill of lading must appear to cover a port-to-port shipment but need not be titled “marine bill of lading”‚ “ocean bill of lading”‚ “port-to-port bill of lading” or similar. 92 . Full Set of Originals
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BILL OF LADING (B/L) A B/L is one of the key documents in international trade and mostly in the shipping industry. It is document issued by the agent of a carrier to a shipper‚ signed by the owner of the vessel to provide proof that the goods have been received. In a nutshell the B/L is a contract between the person shipping the goods‚ the carrier and the receiver of the goods. The B/L is a legal document that must be thorough‚ accurate and complete. For example‚ suppose that a logistics company
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* Introduction of the Bill of Lading "Lading" is another word for cargo. Lading refers to the material goods that are transported by the carrier from one location to another on behalf of a sender and a receiver. Such transportation may be carried out by way of ground transport‚ by aircraft or by cargo ships. Carriers use the bill of lading associated with a given shipment to ensure that goods are delivered safely to the sender as the shipper had named. “Bill of lading” is a legal document which
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Bill Of Lading The fourth and the last issue in this case is the bill of lading. Bill of lading is one of the most important documents in a contract of carriage. It is formed between the shipper (seller or buyer) and the carrier (transport company). The contractual terms and conditions of transport contracts are generally found in transport document known as a bill of lading. Many shipments are made under bills of lading‚ issued by the carrier to the shipper upon delivery of the goods for shipment
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Types of Bill Of Lading There are two types of Bill of Lading (B/L) on the basis of Receipt of cargo:- 1. Shipped on Board B/L: Cargo is on board the vessel‚ It confirms the buyer that cargo is actually shipped. 2. Received for Shipment B/L: Shipping Company confirms having received the goods for shipment by the vessel mentioned therein. When the goods later loaded on the vessel‚ a supplementary clause may be inserted in B/L‚ if it’s not already negotiated: “Actual shipped on Board” –
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University Law School Gary Gueye The Bill of Lading is a fundamental piece in the jigsaw that is export trade Introduction I. Different types of the Bill of Lading a) Straight Bill of Lading b) Order Bill of Lading c) Bearer Bill of Lading d) Switch Bill of Lading 2 3 3 3 3 3 II. Functions of the Bill of Lading a) Bill of Lading as a receipt b) Bill of Lading as a document of title c) Bill of Lading as an evidence of a contract of carriage d) Bill of Lading as a contract of carriage 4 4 6
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International Trade International trade is exchange of capital‚ goods‚ and services across international borders or territories. In most countries‚ it represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history‚ its economic‚ social‚ and political importance has been on the rise in recent centuries. Industrialization‚ advanced transportation‚ globalization‚ multinational corporations‚ and outsourcing are all having a major
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The Role of Technology in the Theory of International Trade "Technology" refers to the way in which resources are converted into commodities. This is such a basic feature of an economic model‚ whether of a closed or open economy‚ that any discussion of the "role" of technology in the theory of trade must be arbitrarily incomplete
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Role of world trade organization in international business and arguments about its helpfulness International Business Environment: The World Trade Organization is an intergovernmental organization that assists the nations in regulating trade in manufactured goods‚ services (including banking‚ insurance‚ tourism and telecommunications)‚ intellectual property‚ textiles and clothing and agricultural products (Richard Schaffer‚ 1996). The WTO replaced GATT (General Agreement on Tariffs and Trade )
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