The vocabulary which can involve with the carriage of goods by sea

The vocabulary which can involve with

the carriage of goods by sea

Charter party:

 A charter party is a contract by an whole ship or main part thereof is let to a merchant forthe goods‘s transportation by the ship owner in consideration of the payment of a sum of money. It is frequently, but not essentially a action, and is carry out by the ship owner or the master or some other owner‘s representative[1]. The charter party is not only a contract of carriage of goods by sea because a charter party is regards as a combination of a contract of affreightment and a contract of carriage by sea in the first place a contract of future carriage (affreightment)[2].

Freight[3] :

 The total paid for the ship’s hire is estimated per ton or per month , and is called the freight .However , some  term is also refer to the cargo for donation[4].

The bill of lading[5] :

It regularly is for delivery to a specific person or his assigns. Nonetheless, sometime it is made out for delivery ‘to_order or_assigns.” The bill of lading has three of functions[6]:

1.)   Proof which a contract has be conclude

2.)   A receipt which the goods have been shipped

3.)   A document which presents the consignee a title which makes him the legitimate receiver of the carrier’s goods .

Total Losses[7] :

Loss means that is a total or partial .That called also average loss . A total loss is on account of the insured is entitled to recover the whole amount insured. It is the whole amount indicated. It is either completlyor productive.

Abandonment[8]

It is a relinquishment  to  insurer by the insures which is of the subject of insurance or whatever part thereof may be saved , where the insured calls upon the insurer to settle with him for a total loss , in consequence of the destruction , or the improbability  of recovery.

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[1] J.W smith ,A manual of common law : comprising the principles and the points,( 2^nd edn,Lincoln’s Inn,London,1864)268

[2] W.A. Timmermans,Carriage of goods by sea in the practice of Ussr Maritime Arbitration Commission,(Kluwer Academic Publishers,Norwell,1999)54-58

[3] H.C Barnes,Freight rates and charges:laws,rules and regulations governing the construction,operation and development of railroad freight rates and charges in their application to interstate and foreign commerce,(London,1922)379

[4] J.W smith,(n1)268-269

[5] J.W smith,(n1)270-271

[6] W.A. Timmermans,(n2)107

[7]J.W smith,(n1) 278-282

[8] J.W smith,(n1)282