A bill of lading is a document issued by the carrier or its agent to the shipper after the cargo is loaded onto the vessel for maritime transportation. It serves as proof that the carrier has undertaken the obligation to deliver the cargo to a specified port of destination and release it to the lawful consignee. The role of the bill of lading in maritime transportation is fundamental, as it performs several important functions. Three…
The purpose of this article is to provide a basic understanding of the term FOB (Free on Board), which is one of the key terms in international trade. We will also examine how FOB is applied and what responsibilities are placed on the parties to a contract. FOB remains one of the most popular and widely used delivery terms in maritime shipping. General Meaning of FOB FOB means that the seller is responsible for delivering…
This article is a general guide to LMAA (London Maritime Arbitrators Association) arbitration. What is LMAA? LMAA is an association of practising maritime arbitrators. It was founded in 1960 and is based in London. The Association adopts arbitration rules and brings together maritime arbitrators from around the world. Most maritime disputes are resolved under the Association’s rules. However, LMAA is not an arbitration institution: it does not participate in the resolution of disputes and does…
This article is a general guide to the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry (ICAC). ICAC Fundamentals at the Ukrainian Chamber of Commerce and Industry The ICAC at the Ukrainian Chamber of Commerce and Industry was established in 1992 to resolve international commercial disputes. It operates in accordance with the Law of Ukraine “On International Commercial Arbitration” and its own procedural rules (the Rules). ICAC provides services for the…
This is an introductory article on the LCIA (London Court of International Arbitration) arbitration. A brief history of the creation of the LCIA The first steps to establish the LCIA were taken as early as the end of the 19th century. In 1883 a committee was set up to draw up proposals for a tribunal to deal with cross-border commercial disputes. However, it was not until 1891 that the final scheme was approved, and a…
In this article, I answer the main questions about bareboat charters: What is a bareboat charter? Is a bareboat charter a lease agreement or a contract of carriage? What are the duties and responsibilities of the shipowner and charterer under a bareboat charter? How is a bareboat charter different from other charters? The nature of a bareboat charter For practical purposes, charters in shipping are classified into three types: Bareboat (demise) Time charter Voyage charter…
This is an introductory article on time charters and voyage charters. There are three main types of charters in shipping: Voyage charter Time charter. Bareboat charter (demise charter). Charters are often compared to taxis because it is the most straightforward analogy to understand. Voyage charter Let’s begin with an example: Sergey orders an Uber to get to work. Sergei pays the price based on distance and traffic jams. He does not pay for gas and…
This article is about the FOSFA Small Claims Single Tier Rules of Arbitration. The Federation has three sets of rules in total: Rules of Arbitration and Appeal (standard rules incorporated into most FOSFA proforma contracts) Rules of Arbitration for Brokerage Commission and Interest Small Claims Single Tier Rules of Arbitration (“the Small Claims Rules”) The Small Claims Rules are not incorporated into FOSFA pro forma contracts. They only apply when the parties have envisaged them…
FOSFA arbitration (The Federation of Oils, Seeds and Fats Associations Ltd) plays a key role in international trade of oils, seeds, and fats. In this guide, we will examine the main aspects of FOSFA arbitration, including the dispute resolution process, timelines, costs, and enforcement of decisions. It is important to understand how this process works to use it effectively in commercial activities. 📕 Free practitioner’s guide — FOSFA arbitration & appeal 2026 Print-quality 26-page PDF…
Gafta arbitration (Grain and Feed Trade Association) is a dispute resolution process conducted under the Gafta rules, primarily based on the association’s standard forms. Gafta, the International Grain and Feed Trade Association, was established to standardise and simplify the global trade of grain and feed. The association develops standard form contracts that include mandatory provisions for resolving disputes through Gafta arbitration. These contracts are widely used in international trade, and any disputes arising from them…
