“Genuine Commercial Justification” as a basis for a liquidated damages clause in Shipbuilding Facts: XYZ Company signed a contract with the claimant shipbuilder for the construction of a luxury yacht. The contract price of €38 million was payable by installments over the course of three years, the first of which was due on 17 October
The impact of insurance practices on liability conventions 1 Introduction For some years, I have been involved in making various studies on maritime liability conventions in the Legal Committee of the International Maritime Organization. However, some observations from this work, and from the study of texts to which I have or have not contributed, may
International shipping regulations are quite basic and remain unchanged, for the most part, around the world. Aside from governmental regulations that can place limits on the quantity of goods imported and/or exported and also the type or manner of goods being handled, the overall basic shipping regulations all involve: proper packing, proper labeling, proper documentation
International sales contracts: new Incoterms in effect 1st January 2011 Export transactions generally involve international sales contracts, whose clarity of terms is crucial to avoiding disputes between parties. To ensure consistent interpretation, the International Chamber of Commerce created a set of standard trade "Incoterms" in 1936, whose terms are periodically revised to reflect developments in
Introduction 1. In general terms, the Rotterdam Rules (RR) does not make substantial changes about the existing law regarding shipper’s obligations and liability. Most of the features in the subject have been kept nearly the same as they were treated in the Hague Rules (HR), the Hague – Visby Rules (HVR) and the Hamburg Rules
Should forwarders pay when the ship sinks and production stops? A brief introduction to cargo and liability insurance, and the consequences of the extension of forwarder responsibility towards strict liability and higher limits Increasingly, forwarders are becoming integrated partners in the business activities of export companies. The value of goods they handle often exceeds the
Marine insurance is an inevitable part of the import and export of cargo. Whilst we have all seen the wording of the various policies on many occasions, it may be worthwhile to review the consequences of the policies on the transport of particular types of cargoes. There are many “common” phrases in marine insurance policies;
Opinion: Here’s a forecast from those of us who write and review numerous transportation contracts: A new international law looms ahead that will be very beneficial to truckers if we strategize to take advantage of it. Globalization continues to change the motor carrier industry, and with the Rotterdam Rules sailing into our legal waters, we
Issues of liability and the cause of the arrest and detention of the vessel The vessel was chartered on the Sugar Charter Party 1999 for the carriage of “a full and complete” cargo of sugar. At the discharge port, it was found that there were a large number of bags of short-delivered or damaged cargo.
Marine Insurance Act 1906 section 39 Commercial Court rejects attempt by an insurer to avoid a policy on the grounds of failure on the part of the insured to disclose material facts The Defendant Insurers alleged that the Claimant Insured was not entitled to claim under the policy due to (a) material non-disclosure and (b)
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