Contract Of Affreightment

Summary of Contract Of Affreightment

A contract, between the shipper of goods and a transport company, specifying the terms and conditions under which a given lot of merchandise is to be moved. The contract is usually evidenced by a bill of lading containing the terms of carriage, including the carrier's liability for loss and damage in transit, as well as a description of the merchandise, destination, consignee, and other relevant details of the shipment. In some cases, the bill of lading will carry the full particulars of the contract; in other cases, particularly when a short form bill of lading is used, the document will summarize the terms of the contract, referring the holder of the bill to a separate source (usually the carrier's tariff or a charter party),which is incorporated by references, for the full terms and conditions of the agreement.

(Main Author: William J. Miller)

Contract of Affreightment

Resources

See Also

• Affreightment