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Practical Difficulties Generated by Cargo Description in Contracts for International Sale of Goods and Bills of Lading

Author

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  • Bãtrînca Ghiorghe

    (Constanta Maritime University, Faculty of Navigation and Maritime Transport)

Abstract

It is estimated that over 80 percent of the goods sold on international market are carried by sea [1] and many times a bill of lading is required for cashing the letter of credit. The parties to the sale contract require that cargo is described as clear as possible and a certificate of quality is very often required, while the shipowner will many times insist that the cargo is described as generic as possible in the Bill of Lading, and no references to cargo quality are accepted. This paper will explain the reasons behind such a scrict requirement from the shipowners point of view and based on recent legal case will provide practical solutions for overcoming the potential disputes arising between shippers, charterers and shipowners.

Suggested Citation

  • Bãtrînca Ghiorghe, 2012. "Practical Difficulties Generated by Cargo Description in Contracts for International Sale of Goods and Bills of Lading," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 5-9, Decembre.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:2:p:5-9
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    File URL: http://stec.univ-ovidius.ro/html/anale/ENG/cuprins%20rezumate/volum2012p2v2.pdf
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    More about this item

    Keywords

    bill of lading; cargo condition; cargo quality; UCP 600; letter of credit;
    All these keywords.

    JEL classification:

    • K33 - Law and Economics - - Other Substantive Areas of Law - - - International Law
    • L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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