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maritimeandcommerciallaw.co.uk
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Definitions (180)
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laycan
Range of dates within the hire contract must start.
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no cure no pay
No cure no pay is a form of salvage contract in which the salvor receives no payment if s/he fails to save any property. The payment will be made under this scheme only if the party makes a successful claim.
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accomplished bill of lading
An original copy of a bill of landing for an order that must be shipped.
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act of god
An event that directly and exclusively results from the occurrence of natural causes that could not have been prevented by the exercise of foresight or caution; an inevitable accident.
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adjustments
Any discrepancy between the actual shipment and what is stated on the bill of lading. These can result in additional charges from freight carriers.
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affreightment
Chartering or hiring vessel as freight carrier.
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agent
A person who transacts business on behalf of another person or company with full or limited decision.
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anchor
A heavy object attached to a vessel by a cable or rope and cast overboard to keep the vessel in place either by its weight or by its flukes, which grip the bottom.
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arbitrate
To settle or decide a dispute.
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arbitration
A mini-trial, which may be for a lawsuit ready to go to trial, held in an attempt to avoid a court trial and conducted by a person or a panel of people who are not judges.
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