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The Hague Rules of 1924 effectively codified, albeit in a diluted form, the English common law rules to protect the cargo owner against exploitation by the carrier. Nearly 50 years later, the Hague-Visby "update" made few changes, so that the newer Rules still applied only to "tackle to tackle" carriage (i.e. carriage by sea) and the container ...
The Hague Rules form the basis of national legislation in almost all of the world's major trading nations, and cover nearly all the present international shipping. The Hague Rules have been updated by two protocols, but neither addressed the basic liability provisions, which remain unchanged.
Laches is a form of estoppel for delay. A person fails to arrest the ship within a reasonable time may result in cancellation of the original claim. The time of delay will be determined on a case-by-case basis. The idea is that the holder must show diligence exercising the lien. Another method is an execution sale in a rem. This also removes ...
A bill of lading is a standard-form document which is transferable by endorsement (or by lawful transfer of possession). [7] Most shipments by sea are covered by the Hague Rules , the Hague-Visby Rules or the Hamburg Rules , which require the carrier to issue the shipper a bill of lading identifying the nature, quantity, quality and leading ...
There are some clauses under the sales form protecting the interest of the buyer of the ship. For example, clause 9 of Sale Form 1993 has provided some limited protection for the buyer. Under clause 9, the seller warrants that the vessel is free from all charters, encumbrances, mortgages maritime liens, or any other debts whatsoever at the time ...
Tax dumping: some tax haven states have lower corporate and personal tax rates. [citation needed] Social dumping: when a state reduces social contributions or maintains very low social standards (for example, in China, labour regulations are less restrictive for employers than elsewhere). [citation needed]
It is estimated that during the period 2005-2019, the global shipping industry as a whole paid taxes corresponding to an effective corporate income tax rate of 7%, compared to the OECD average corporate tax rate of 23.7%. One of the main reasons for the favorable tax treatment was the tonnage tax arrangements of several countries. [2]
The Merchant Marine Act of 1920 is a United States federal statute that provides for the promotion and maintenance of the American merchant marine. [1] Among other purposes, the law regulates maritime commerce in U.S. waters and between U.S. ports.