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Cover note. A contract of marine insurance concluded when the proposal of the assured is accepted by the insurer, whether the policy is then issued or not. For the purpose of showing when the proposal was accepted, reference may be made to the slip or cover note or other customary memorandum of the contract, although it may be unstamped.

Cartel. This is a price-fixing body formed of providers or suppliers of goods or services. A liner conference can be considered to be a cartel to fix the freight rates.

 

Consol. This expression is an abbreviation found in sailing schedules and advertisements of liner services.

Paramount clause. (Also termed Clause Paramount.) This clause is generally found in a bill of lading but can also be found in a charterparty. The main purpose of such a clause is to incorporate the terms and conditions of the Hague or Hague-Visby Rules (or the Hamburg Rules) into the document which is (or which evidences) the contract of carriage of goods by sea. The Paramount clause can also incorporate particular legislation, such as the United States Carriage of Goods by Sea Act 1936.

 

Charter. The contract to carry goods by sea or to hire or lease or use a ship. "To charter" means to enter into the contract. The contract can be for a period of time ("time charter" or "bareboat charter") or for one or more voyages ("voyage charter").

 

Charterer. The person or corporation hiring a ship for the carriage of goods or passengers (either a "time Charterer" or a "voyage Charterer") or leasing the ship for his own management and control (a "bareboat/demise Charterer").

 

Consignment clause. A charterparty may stipulate the vessel will be consigned to owners' agents or charterers' agents for inward or outward business. If charterers are entitled to appoint agents at port of loading or discharge the owner must use the services of the charterers' agent and pay for those services.

 

Colliery scale. Scale rates can be incorporated into a charterparty depending on the place of loading. These are rates, which are set by organisations, which publish standard-form- charterparties after discussion with shipowners and collieries at the ports of loading. The scale rates also contain rates for demurrage.

 

Continuation clause. Hull Time policies can contain a “continuation” clause. As a rule, time policies are made for a maximum of 12 months, but obviously it is impossible to judge in advance whether the vessel will be at sea or not on expiration of the policy.

Costs and expenses. Legal, technical or otherwise, incurred in investigating, defending, or pursuing a claim against which a member is covered by the club may also be payable by the club.

Collision and dock damage. Excess collision liability. Proportion of collision liability relating to wreck removal, dock damage or oil pollution caused by the other ship.

 

Calls or Premiums. Some mutual associations term the payments for cover as “calls” while others term them as “premiums”. The concept of mutuality is that each member protects the others and this is done by levying “calls” rather than the businessman’s “premium”.

Calendar month. A vessel may be fixed on a time charter basis, either for the period occupied by a certain voyage; e.g., "for one voyage from the UK and/or Continent to Australia via port or ports in charterers' option" or for the term of ". . . calendar months, commencing from time of delivery at . . ." the port agreed upon.

Concentrates. This is a material in small particle form which results from a processing of natural ore. The main hazard associated with concentrates is that moisture entrained in the particles may settle out and the surface reach a nearly fluid state which will affect the ship’s stability if the cargo shifts. Moreover, some concentrates, such as iron concentrates produced when iron is crushed dry, contain sulphur so that if concentrates become damp the sulphur reacts with the oxygen in the surrounding air to produce heat. Compartments containing concentrates should not be ventilated in order to reduce the oxygen content.

 

Centre of buoyancy (B). This is the geometric centre of the under water shape or volume of a floating object. The buoyancy force provided by the liquid in which the object floats acts vertically upwards through B.

 

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