charter party

[richemon24]

hi,

a bill of lading is not acceptable if it contains an indication that it is subject to a charter party (sub-article 20 (a)(vi)).

anyone can please further explain?

thanks

[Negotiator]

Dear richemon,

I'm not sure at what point you are curious exactly, however, I can briefly explain like this :
1) When a credit requires or permits Charter Party B/L and a Charter Party B/L is presented, it should be examined according to UCP 600 Article 22.
2) Otherwise, for example, if a credit requires just "Multimodal Transport Document", "Bill of lading" or "Non-negotiable Sea Waybill", the transport document which bears any reference to "charter party" will not be acceptable.

Thanks and regards.
Lee

[vivian]

hi,

a bill of lading is not acceptable if it contains an indication that it is subject to a charter party (sub-article 20 (a)(vi)).

anyone can please further explain?

thanks

I dont know what is your problem and what is your doubts? UCP is very clear, thus, if you examinate a B/L with such indication, that means not acceptable .
so what is your actual question, you may give us an example.
tks

vivian

[Jackie]

Hi

Unless stated that it is acceptable, l/cs will normally not accept charter party b/lading.

This is incase that the shipper cannot pay for the freight charges, the owner of the vessel may sieze the cargo in lieu of payment for the freight charges.

Some banks do not like to accept charter party b/lading for this reason.

Jackie

[richemon24]

thanks Jackie and negotiator.... i appreciate the way you explained....

[ahmad]

1. Charterer can sell the goods to recover freight if not paid to him.
2. The rights conferred by a bill of lading takes second place to any rights of ship owner.
3. It is also uncertain how the clauses of the charter affect the legal rights of the holder of such a transport document.
4. A charter may be applicant (in an FOB) or the beneficiary (in case of CFR or CIF contract)