How to register a ship in India Which ships require registration Every Indian ship, unless its NT ≤ 15 tons and is employed solely in navigation on the coasts of India, shall be registered with the Principal Officer of MMD. Sea going ships fitted with mechanical means of propulsion of 15 tons net and above…
Difference Between Mates Receipt And Bill Of Lading S.No MATES RECEIPT BILL OF LADING 1 Mate’s receipt is issued when goods are placed on board ship after verification of quantity and condition. Bill of Lading is prepared & issued based on Mate’s receipt. 2 Mate’s Receipt is prepared and issued by chief officer. B/L…
Classification of Bill of Lading Classification of Bill of Lading By method of execution Open B/L Straight B/L Bearer B/L Ordered B/L Classification of Bill of Lading By method of operation Received for shipment B/L Shipped B/L Through B/L Combined transport B/L By method of execution Open B/L Unless otherwise expressly provided, the B/L is a freely…
Obligations of the Bill Of Lading The holder of the Bill of Lading (Buyer, Endorsee, Assignee) is bound by same condition as the consignee himself. Ex. If the consignee is required to pay the freight on delivery, the general average contribution to be paid or difference of freight, the holder has to do the…
Bill Of Lading (BOL) Bill Of Lading Definition: Section 6 of Bill of lading act 1856 defines Bill of lading as the document, which acknowledges the receipt of goods for shipment, received onboard a particular ship for carriage by sea and delivery to shippers order. Halls Bury Law Of England (Legal Dictionary) According to Halls Bury…
Marine Insurance Mixed Policy (Voyage & Time) This policy is a combination of time and voyage policies. It covers the risks during a period of time within which several voyages could be completed. The policy would cover the risks when the ship is at the harbor & during the voyages and the cover would be…
Marine insurance Time policy Marine insurance Time policy which is issued for a fixed period of time is known as time policy. A marine insurance policy is valid for a specified time period generally valid for a year. All the marine perils during that period are insured. This type of policy is suitable for full…
MARINE INSURANCE Definition: Marine insurance is a contract in which the insurer undertakes to indemnify the insured against the future marine losses incidental to the marine adventure as per the agreed terms of contract. What is Contract? Offer = acceptance = Promise Promise + consideration = Agreement Agreement + Legal enforce-ability = contract Insurance…
What are Statutory Certificates? & Mandatory Certificates? – Those certificates which are required by the law with respect to safety and environment protection that the vessel is required to comply with, are called statutory certificates. E.g-SOLAS, MARPOL, STCW, MLC 2006 What are Mandatory Certificates? 1 . Certificates which are required for trading purpose. Ship’s registry certificate is a…
Total quality management Total quality management is a management technique which entails a continuous effort by the management as well as employees of a particular organization to ensure customer satisfaction, acquire their loyalty for future business opportunities, as well as attract other prospective clients. This type of management approach has been in use in other…
