Shipping Lawyer Maritime Contract Law 3

Question 1

What is 'dispatch' money in a voyage charter?

Accepted Answer

A reward paid to the charterer for completing loading/discharge ahead of schedule

Answer

A payment for early cargo delivery

Answer

Advance freight payment

Answer

A canal transit fee

Question 2

Which type of bill of lading clause states goods were received in apparent good order and condition?

Accepted Answer

Clean bill of lading

Answer

Claused bill

Answer

Order bill

Answer

Straight bill

Question 3

What is 'freight pre-paid' on a bill of lading?

Accepted Answer

Freight has already been paid and cannot be recovered even if cargo is lost

Answer

Cargo insurance included

Answer

A discounted freight rate

Answer

Port charges included

Question 4

Under U.S. maritime law, what is the time limit for filing cargo claims under COGSA?

Accepted Answer

1 year

Answer

6 months

Answer

2 years

Answer

3 years

Question 5

What is a 'letter of indemnity' (LOI) in shipping?

Accepted Answer

A document indemnifying a carrier for releasing cargo without presentation of the original bill of lading

Answer

A cargo insurance certificate

Answer

A customs bond

Answer

A charterer's guarantee of freight payment

Question 6

Which charter party term means the charterer must pay hire continuously, including during vessel breakdowns?

Accepted Answer

Absolute hire

Answer

Off-hire clause

Answer

On-hire clause

Answer

Continuous hire obligation