BILL OF LADING 1. Definitions In this Bill of Lading the word: 'Carrier' means the party named in the Signature Box on the face hereof; 'Merchant' includes any Person who at any time has been or becomes the Shipper, Holder, Consignee, Receiver of the Goods, any Person who owns or is entitled to possession
Jettison When goods or ship's gear are voluntarily sacrificed by casting them overboard in time of peril, with the object of preventing the loss of the vessel and the balance of her cargo, there is said to be a loss by jettison, Such a sacrifice will normally be recoverable in general average, but it must
"Where the subject-matter insured commences the transit contemplated by this insurance (in accordance with Clause 8.1), but without the knowledge of the Assured or their employees the ship sails for another destination, this insurance will nevertheless be deemed to have attached at commencement of such transit." The new Clause 10.2 does more than neutralize section
When will insurers be estopped from denying coverage on excluded claims? Abstract This article considers when an insurer will be estopped from denying coverage in circumstances where the insured has not entered into a non-waiver agreement and the insurer has not sent the insured a reservation of rights letter. Introduction When a claim is filed
(“the George S” case) In 1983 it first came to light that some ship's crews were siphoning off their cargo of crude oil to use as fuel. The practice was the subject of a circular to all governments, issued by the Marine Safety Committee of IMO, warning them of a serious danger to both ships
It must be emphasised that not all claims received in the offices of insurers originate through the intermediary of brokers. A considerable number of cargo claims is sent directly to the Underwriters, mainly, of course, where a Company has a 100% interest in the risk insured and no broker is involved. The complexity of dealing
Where a claim is forwarded to a broker for collection a file will normally be made out, and some procedure must be adopted for regulation and control. Of course, the actual method will vary from one broker to another, but apparently some form of register is advantageous if only to keep a series of file
Commercial Court The issue has recently come up for consideration again in the long running case. The claim concerned the loss of a jack-up rig being towed on a barge from Galveston to Malaysia. The jack-up rig design allows a working platform to be floated into position and jacked up on cylindrical legs, to suit
