Shipping Contract
A shipping contract in the maritime context is a legally binding agreement between two or more parties that outlines the terms and conditions for the transportation of goods by sea. This contract typically includes details such as the type of goods to be transported, the expected delivery date, the agreed-upon price for the shipping service, and the responsibilities of each party. It also stipulates the procedures to be followed in case of loss or damage to the goods during transit. The shipping contract is crucial in international trade as it provides a framework for the resolution of disputes that may arise during the shipping process. It is governed by various international laws and regulations to ensure fair trade practices and the safety of goods and personnel involved in the shipping process. The two main types of shipping contracts are the charter party contract, which is a contract of hire of the ship, and the bill of lading, which is a contract of carriage of goods.
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