Contract of Carriage of Goods
In the carriage of goods by sea, air or land, goods may be lost, damaged or deteriorated. The bill of lading ( transport document used almost exclusively for carriage of goods by sea) is a contract of carriage between the consignor, the carrier and consignee that acts as a receipt of transfer of goods and as a negotiable instrument. The bill of lading also determines rights and liabilities agreed between parties to an international sale contract. Also reservations as to the quality and quantity of the goods are marked on the bill when accepting goods so as to stifle any accusations from the consignee of damage in transit. The consignor retains ownership of the goods until the bill of lading is transferred to the consignee. Most bills of lading today are governed by international conventions such as the Hague Rules, Hague-Visby Rules and Hamburg Rules. These rules impose minimum responsibilities and liabilities that cannot be softened by contract.
Read more about this topic: International Commercial Law
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