06
Sat, Jun
0 New Articles
 

Straight bill of lading.  This is defined in the United States Pomerene Bills of Lading Act 1916, section 2 of which states that such a bill of lading is “A bill in which it is stated that the goods are consigned to a specified person . . .“.

Shipbroker. The shipbroker acts as an intermediary between charterers, shippers and consignees of cargo on one side and the shipowners or carriers by sea on the other. The principal functions of a shipbroker are:

Subject to insurance. This is one restriction in a charterparty that is not really relevant to the making of the formal contract in the same way that the other "subjects" are.

Subject approval of relevant authority. This affects the enforceability of a charter if the ship's certification and cargo handling capabilities are required to meet with official approval. For example, if a vessel is not provided with a valid "document of authorisation" it may not be allowed to load grain and the charter may depend on permission being granted to load.

 

Statement of facts (SOF). This is the document attached to a record of calculation of laytime used (the "Timesheet") and is a record of the events that can affect the counting of laytime.

Stability. The stability of a ship is the tendency she possesses to return to her original position after she has heeled because of external forces. The stability of a ship mainly depends upon the metacentric height.

 

Subject to licence being granted. This term is used in negotiations as regards the chartering of a vessel at a time when owners are not free to commit their vessel for a certain employment without having obtained the approval of competent authorities. Consequently, a charterparty issued under such condition is not effective until such licence has been definitely granted.

 

Subject managers' approval. For the shipowner this can be a somewhat troublesome qualification because it indicates that the charterer's negotiator has to refer all the issues to a third party to make a final decision.

Salvage costs. This expression includes all expenses properly incurred by the salvor in the performance of the salvage services.

 

Subject to contract. In this situation, a formal contract has yet to be signed. However, the main provisions have probably been agreed during negotiations.

Subject to Government permission. This is another example, similar to "subject to shippers' approval", for a party other than the two negotiating parties, the owner and the charterer, influencing whether the parties can enter into the charter.

Subject to signing charterparty. This expression is similar to "subject to contract". The formal document has not been signed (or "executed") and the entire contract and its terms are held in abeyance until the signing.

 

SPONSORED: Amber For Sale - Loose Amber, Amber Gemstones on Sale -  https://ambersale.com 

Do you like Natural Baltic Amber?