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Sales of goods and sellers right to stoppage in transit -marine transportation procedure
Marine transportation procedure
Section 44 of the Sale of Goods Act 1979 provides a seller with a statutory right to have the goods stopped while
still in transit to the buyer after it has become known that the buyer is insolvent and has failed to pay for the goods.
Three conditions must exist to enable this right to be exercised:
i) the purchaser must be insolvent;
ii) the seller must be unpaid; and
iii) the goods must have left the seller’s possession but must not yet have come into the buyer’s possession.
It makes no difference whether or not the property has passed to the buyer (i.e. the legal title in the goods). While the
goods are on board the carrying ship, they are still in the seller’s constructive possession, and he may exercise his
right of stoppage. However, once the goods are physically delivered to the buyer (or his agent), the right is lost.
The seller must give the ship written instructions (e.g. by telex or fax) which should be retained by the master as
evidence. The carrier is then obliged to return the goods to the port of shipment, the seller being liable for the backfreight
and other expenses.
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- Various chaterparty freight clauses- How they are calculated
Freight may be of the following kinds: Ordinary or charter party freight ; pro-rata freight; Advance or pre-paid freight;Back freight; Ad valorem freight, Lumpsum freight; bill of
lading freight; Ad valorem freight;Dead freight etc...
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- Laydays and the cancelling date in a charter party agreement & laytime clause
The cancelling date is the final layday and the date beyond which, if the chartered vessel has not been presented for loading, the
charterers may reject her and cancel the charter.
Will usually be found in a Cancelling Clause, which provides that the charterers will not be entitled to cancel the
charter before the stated cancelling date, even when it is obvious that the vessel cannot arrive at the loading port
by this date.
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- Various charter party clauses
Despatch clause :
If cargo operations are completed before expiry of the laytime, a monetary reward, termed despatch or despatch
money, is normally payable by the owners to the charterer.
Despatch money or despatch is defined as an agreed amount payable by the owners if the vessel completes loading
or discharging before the laytime has expired.
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- Specifying notice of readiness
notice to the charterer, shipper, receiver or other person as required by the charter party that the vessel has arrived at the port or berth, as the case may be, and is ready to load or discharge.
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- Charter related problems at loading ports
If charterers repeatedly reject the vessel on grounds of unclean holds or tanks most charter parties have clauses dealing with cleaning of compartments before loading.
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- Carriers lien on cargo
In common law, a carrier may exercise a possessory lien on any part of the cargo in respect of which freight is
owing at the destination, and also for money which has been spent in protecting the cargo (e.g. where reefer goods
have been warehoused by the shipowner while a damaged reefer vessel has been drydocked).
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Summarized below seagoing cargo ship various employment guide:
- Charty party forms
defines the obligations, rights and liabilities of the shipowner and charterer. Recognised standard form (e.g. GENCON, BALTIME, NYPE)
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Nature of a time charter
The charterers agree to hire from the shipowner a named vessel, of specified technical characteristics, for an agreed period of time, for the charterer’s purposes subject to agreed restrictions.
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-
Voyage charter advantages
contract for the carriage by a named vessel of a specified quantity of cargo between named ports or places.
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- Terms of Bareboat charter and lease arrangement
The vessel owners put the vessel (without any crew) at the complete disposal of the charterers and pay the capital costs, but (usually) no other costs.
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-
Seaworthiness of vessel
A vessel must be fit to encounter the “ordinary perils of the sea” (e.g. bad weather) and other
incidental risks to which she will be exposed on the voyage..
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- International trade terms (INCOTERMS) in sea transportation
INCOTERMS is a set of rules, published by the International Chamber of Commerce, for the uniform interpretation of the most commonly used trade terms used in international trade contracts.
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- Money transfer procedure in sea transport
Money transfer system commonly used in overseas trade to enable sellers to obtain early payment, i.e. soon
after shipment of the goods.
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- Contract between cargo seller and buyer
The contract of sale between the seller and the buyer of the goods is separate from the contract of carriage which one party or the other, or a third party (such as a freight forwarder), will make with the carrier
.
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- Parties involved in sea transportation of goods
Forming links in the transport chain- Sea carrier, Freight forwarder, shipper, consignee,agent & banks
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- Carriage of goods by sea act 1992 (COGSA 92)
Section 3 of COGSA 92 lays down guidelines establishing when liabilities under a bill of lading, sea waybill or
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endorsee or transferee). The party who takes or demands delivery of the goods to which a bill of lading, sea waybill
or ship’s delivery order relate becomes subject to the same liabilities as the original shipper..
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- Laytime interpretation rules
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- CIF ( Cost, Insurance and Freight ) used in international trade terms (INCOTERMS)
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- FOB ( free on board ) used in international trade terms (INCOTERMS)
“FOB” means Free On Board (named port of shipment), e.g. “FOB Newcastle NSW”. It is one of the most commonly used term (INCOTERMS) in sales contracts involving sea transportation of goods.
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Baltic Exchange members undertake to abide by a strict code of
business practice, enshrined in the famous Baltic motto “Our Word Our Bond”.
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- Ships charter market place
Most ships employed in the charter markets are dry bulk carriers, tankers, combination carriers (e.g. OBOs), or reefer vessels, although there is also a charter market for container ships and for vessels of various special purpose types
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- Common Chartering abbreviations
Many terms commonly used by shipbrokers and others involved in ship
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