Bill of lading meaning

In this issue: Advertising, marketing and sponsorship Consumer protection Contracts Data protection Sale and supply of goods Supplier management LexTalk®Commercial: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers ASA rulings—6 November 2024 The Advertising Standards Authority (ASA) received two complaints about CurrencyWave and Eurostar. Complainants said CurrencyWave’s ad wrongly implied Financial Conduct Authority regulation and used inaccurate price comparisons. For Eurostar, concerns were that Instagram and Facebook ads overstated the availability of £39 fares and omitted key information. The ASA upheld both. See: LNB News 06/11/2024 51. ASA publishes its Vaping Project Review on vaping ads targeted at under-18s The ASA has issued its Vaping Project Review, detailing outcomes from investigations, tech-assisted monitoring, enforcement, stakeholder engagement and advisory work on ads aimed at under-18s since June 2023. It found influencers, companies, agencies and vaping brands posting paid and organic content, plus brand...

Monoprosopi EPE v Maersk A/S [2024] EWHC 2494 (Comm) What are the practical implications of this case? This ruling delivers key guidance on: (a) the scope of the inspection a carrier must conduct under Article III.3 of the Hague Rules before stating on a bill of lading that the goods are in apparent good order and condition; and (b) the breadth of carriers’ obligations to avoid unintentionally enabling fraud through bills of lading. Article III.3 requires only an outward check of the container. Unless put on notice of a specific issue (for instance, the sound of glass breaking or the odour of spoiled fish), the carrier is not obliged to examine the contents or confirm the cargo’s weight. As a matter of contract or tort, where a carrier knew, or should have known, of a substantial discrepancy in the cargo’s weight, it is arguable that a duty is owed to the purchaser to prevent the bills of lading being deployed as an instrument of fraud......

Moeve Trading S.A.U. (formerly CEPSA Trading SAU) v Mael Trading FZ LLC [2026] EWHC 17 (Comm) The background facts By a contract dated 4 April 2024, the parties agreed the sale of 9,000–9,500 MTs of gasoline and 5,000 MTs plus 5% of gasoil, both at the Buyers’ option, on Free on Board (FOB) terms at Algeciras, Spain (the Contract). The cargo was loaded on 12 July 2024 aboard the MV HARBOUR PROGRESS (the Vessel) and bills of lading were issued. One week later the Vessel arrived at Freetown, Sierra Leone, where notice of readiness was tendered. Discharge proceeded without presentation of the bills of lading, against a letter of indemnity, and the Buyers and their purchasers took delivery. On shipment, title to the cargo passed to the Buyers in line with the Contract’s express terms. The purchase price exceeded US$13 million and was payable upon presentation of the shipping documents, including the issued bills of lading. Payment was to be made under an LC opened in June 2024,...

This Practice Note sets out the guidance to the FCA Free Carrier Incoterm within the Incoterms® 2020 rules, reproduced here with permission from ICC Publishing SA. Incoterms® 2020 rules and other ICC publications are available from ICC Publishing SA, 33–43 avenue du Président Wilson, 75116 Paris, France, from ICC United Kingdom, 1st Floor, 1–3 Staple Inn, London, WC1V 7QH, United Kingdom, and at www.iccwbo.org. The Incoterms® 2020 rules took effect on 1 January 2020, revising the Incoterms® 2010 rules to reflect market developments over the last decade. For the FCA Incoterm that applied until then, see Practice Note: Incoterms® 2010 Rules—FCA Free Carrier [Archived]. FCA (insert named place of delivery) Incoterms® 2020 Explanatory notes for users 1. Delivery and risk ‘Free Carrier (named place)’ indicates that the seller provides the goods to the buyer in one of two ways: First, where the named place is the seller’s premises, delivery takes place when the goods are loaded onto the means of transport arranged by...

Practice Note This Practice Note reviews how arbitration agreements are incorporated into contracts governed by English and Welsh law (using England and English as shorthand). Further materials on arbitration agreements appear on the right-hand side of the page, including Practice Note: Arbitration agreements—the in writing requirement. An oral understanding does not, however, strip a party of access to the courts, since either party may cancel the authority of the arbitrator appointed pursuant to such an arrangement. For an arbitration clause to have legal effect, it must be duly incorporated into the contract it concerns. Under section 6(2) of the Arbitration Act 1996 (AA 1996), a reference in a contract to a written arbitration clause, or to another document that contains such a clause, will itself amount to an arbitration agreement where the reference is expressed in terms that make the clause part of the contract. In short, effectiveness depends on clear incorporation by reference...

This Practice Note outlines the purpose and functions of sea carriage documents in relation to the delivery of cargo, with particular attention to bills of lading and sea waybills. It explains that a bill of lading may be issued as a charterers’ bill or an owner’s bill, and that such documents operate both as evidence of the contract of carriage and as security for finance. Sea carriage documents A sea carriage document is produced to obtain release of goods, either at the port of discharge or at the nominated place of delivery, depending on the form issued by the carrier to the shipper. That document will be either: a bill of lading a sea waybill For more detail on bills of lading and sea waybills, see the Practice Note: Bills of lading and sea waybills. Bill of lading A bill of lading may be: bearer bill of lading: goods covered...

1 Payment by letter of credit 1.1 Within [ insert figure, eg 21 ] days, the Buyer shall establish an irrevocable letter of credit with [ insert name of issuing bank ], confirmed by [ insert name of secondary bank ], in favour of [ insert legal name of seller's bank ], payable at sight upon presentation of: 1.1.1 a signed commercial invoice for the Goods; 1.1.2 [ a clean on board bill of lading for the Goods OR [ insert details of transport document or airway bill ] ]; 1.1.3 [ an inspection certification; ] 1.1.4 [ a packing list for the Goods; ] 1.1.5 an insurance certificate [ insert details eg all risks ]; 1.1.6 [ an export licence for the Goods; ] 1.1.7 [ [ insert details of other documents or certificates that must be produced ]. ] ...