What Traders Should Know About Maritime Transport Documents

(T.O. International Trade Seminars)

Introduction:
The result of the survey by the ICC (International Chamber of Commerce) Paris indicates that 1/3 of the discrepancies in letters of credit is from transport documents. Because surface, air, maritime and multimodal transports are technologies outside the scope of competence of an average banker or trader, confusions are created over the requirements in the marine/ocean bills of lading and the multimodal transport bills of lading. Freight forwarders and carriers also have disputes with the bankers over discrepancies in transport documents, blaming them for mowing the lawn of their neighbours. These disputes are further aggravated by the new requirements under the UCP 500 and the ICC Position Paper No. 4.
This workshop introduces the essential knowledge of liner, charter party and multimodal transport documents that bankers and traders need to know to determine, and also to eliminate, the discrepancies in these transport documents. Case studies and famous court cases are used extensively to demonstrate the common discrepancies and disputes in transport documents from the speaker's work file. Our workshops are known for 4i's: interesting, informative, inspiring, and insightful. Participants have high involvement over open forum discussions, led by the facilitator. Techniques learnt can be applied immediately in participants' workplace to achieve results.
Objectives
After understanding the difference between marine/ocean transport, multimodal transport and maritime chartering, and what data and information should be put in marine/ocean bills of lading, multimodal transport documents and charter party bills of lading, bankers then have more confidence in determination of the discrepancies in these transport documents and avoid disputes. From the context of the Hague Rules, the Hague Visby Rules, the Hamburg Rules and the UNCTAD/ICC Rules for Multimodal Transport Documents, the updated Carriage of Goods by Sea Act 1992 and landmark maritime court cases, bankers and traders can grasp the intention, accurate interpretation and implication of Articles 23, 24, 25, 26, 30, 31, 32, 33, 39, 40 and 41 of the UCP 500 and the ICC Position Paper No. 4, which may be easily misinterpreted in the market place.
Designed For
International Trade Finance Supervisors and Managers in Banks Legal Counsel in Banks Importers and Exporters Freight Forwarders (Doing Documentation for Shippers)
Key Topics
Bills of Lading

The three functions of a bill of lading - Endorsements in a bill of lading
Different kinds of bills of lading designed for specific purposes
The role of a freight forwarder and Memo Bills - FIATA Licence List
Common discrepancies in bills of lading - The ICC Position Paper No. 4 on transport documents
Article 23 of the UCP 500 for marine/ocean bills of lading
Case Studies

Terms and Conditions in Maritime Transport

The Clause Paramount
Rights and responsibilities of the carrier and the shipper - Jason Clause, York-Antwerp Rules, Both-to-Blame Collision Clause & Identity of the Carrier Clause.
Terms and conditions of the P&O universal bill of lading - Time bars for claims & legal action
Loss of bill of lading
Disputes over claiming of cargo on arrival
Difference between a through bill of lading and a multimodal transport document
Problems with delivery of goods against a banker's letter of indemnity without the production of original bills of lading
Switched bill of lading

The Sea Waybills

The difference between a sea waybill, a straight bill of lading and a negotiable bill of lading
The advantages of sea waybills
Application of the sea waybills according to Lloyds of London recommendations
Application of bills of lading according to Lloyds of London recommendations
The concerns of the parties to a sea waybill
Important clauses for a sea waybill
The legal aspects of sea waybills

Multimodal Transport

The essential elements of multimodal transport
The FBL Negotiable FIATA Multimodal Transport Bill of Lading bearing the ICC Logo
The ICC and HAFFA information on FIATA Licensees
The standard clauses in "Negotiable Bill of Lading for Port-to-Port Shipment or Multimodal (Combined) Transport Shipment"
The UNCTAD/ICC Rules for Multimodal Transport Documents
Articles 26 and 30 of the UCP 500
Case Studies

Methodology

Open discussions, debates, case studies and other action learning techniques will be used extensively to encourage participants' active involvement and to ensure right application of the skills learnt. Famous legal cases will be used to demonstrate the key issues and arguments. Technical articles written by the speaker for the Lloyds of London Press will be incorporated into the handouts for further reading
Participants are welcome to bring up their own "grey areas" discrepant bills of lading for open critique by the speaker so that other participants can also benefit from them. They may submit them during enrolment or on the first day of the workshop, in an overhead projector ready (transparency) format.

Duration
Two-day workshop

(416) 298-5881

(416) 292-5535