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

Dispatch money is a reward paid by the shipowner to the charterer when loading or discharging is completed in less than the allowed laytime.

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

A clean bill of lading indicates the carrier received the cargo in apparent good order and condition without any qualifying notations.

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

A freight pre-paid bill of lading indicates freight was collected at origin; the carrier retains it even if cargo is lost or damaged.

Question 4

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

Accepted Answer

1 year

Answer

COGSA provides a one-year statute of limitations for cargo damage or loss claims against carriers, running from delivery or the date delivery should have been made.

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

An LOI indemnifies the carrier for releasing cargo to a named party without surrender of the original bill of lading, which may be in transit.

Shipping Lawyer Practice Test

Shipping Lawyer Practice Test

Shipping Lawyer Maritime Contract Law 3