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1、Chapter Six International Cargo Transportation and InsuranceI. IntroductionII. Law of International Cargo TransportationIII. Bills of LadingIV. Law of International Cargo Insurance2021/6/41Key TermsCharter party: 租船契约Voyage charter: 行次租船/定程租船Time charter: 定期租船Bareboat charter: 光船租船Bills of lading: 提
2、单Straight bills of lading: 记名提单Bearer bills of lading: 不记名提单Order bills of lading: 指示提单Antedated bills of lading: 倒签提单Advanced bills of lading: 预借提单Through bills of lading: 联运提单2021/6/42I. IntroductionII. Law of International Cargo Transportation1. Law of International Carriage of Goods by Sea2021/6
3、/43Advantages and Disadvantages of Carriage of Goods by SeaAdvantages: large freight volume and lower cost. Disadvantages: influenced by the natural conditions and has great risks in transportation; slower comparing with the other transportations. 2021/6/44(1) Types of Contract of ShipmentThere are
4、two types of contract of shipment. One is the form of a charter party, the other is a bill of lading.(2) Charter Party2021/6/45(3) Classifications of Charter Party1) Voyage charter(定程租船/航次租船). The charterer hires the vessel for a single voyage.2) Time charter(定期租船). The vessel is hired for a specifi
5、c amount of time. 3) Demise or bareboat charter(光船租船). The charterer takes full control of the vessel along with the legal and financial responsibility for it. 2021/6/46(4) Law of International Carriage of Goods by Sea1) International conventions.The Hague Rules The Hague-Visby Rules The Hamburg Rul
6、es 2021/6/472) National provisions in the U.K. and USAIn the UK, In 1924, the Carriage of Goods by Sea Act. In 1971, the Carriage of Goods by Sea Act (COGSA), which made the Hague-Visby Rules statutory. In 1992, the Carriage of Goods by Sea to replace the Bill of Lading Act 1855.2021/6/48In United S
7、tates, The Federal Bill of Lading Act, governs the transfer of all bills of lading covering both the international and interstate shipments and all shipments. In 1893 the United States enacted the Harter Act, In 1936 enacted the Carriage of Goods by Sea Act. In 1999 the United States re-enacted the
8、Carriage of Goods by Sea Act.2021/6/492. Law of International Carriage of Goods by Railroad and Air(1) Law of International Carriage of Goods by RailroadThe important agreement about carriage of goods by railroad is the Agreement Concerning International Carriage of Goods by Rail(国际货协).2021/6/410(2)
9、 Law of International Carriage of Goods by AirThere are six conventions for the carriage of goods by air:the Warsaw Convention(华沙公约) the Hague Protocol (海牙议定书) the Guadalajara Convention(瓜达拉哈拉公约) the Guatemala City Protocol(危地马拉市公约）the Montreal Protocols (蒙特利尔议定书)the Montreal Convention(蒙特利尔公约) 2021
10、/6/411III. Bills of Lading1. Bills of Lading(1) Definition Under the Hamburg Rules, a bill of lading means a document which evidences a contract of carriage by sea and the taking over or loading of the goods by the carrier, and by which the carrier undertakes to deliver the goods against surrender o
11、f the document. 2021/6/412Items should be written in the B/LDescription of CommodityWeight/MeasurementNumber of PackagesMarks & NumbersPort of ShipmentPort of Destination2021/6/413Name of the Ship & NationalityName of the Master of VesselName of the ShipperName of the Consignee（收货人）Freight Amount（运费
12、额）Number of B/L IssuedPlace & Date of B/L Issued2021/6/414(2)Functions1) As evidence of the contract of carriage.2) As a receipt of goods received. 3) As a document of title to goods.2021/6/415(3) Classifications1) “Bearer”, “To Order” and “Straight” bill of lading.2) “Clean B/L” and “Unclean or Fou
13、l or Dirty B/L” 3) “Shipped on board B/L”（已装船提单） and “received for shipment B/L” （备运提单/收货待运提单）.4) Other bills of lading.2021/6/416Determination of Clean Bill of Lading在Kandla装港作业途中，发生了火灾，这导致已装上船的一部分货物（食糖）受损并要卸回岸上处理掉。这样，在全部货物装毕，船长签发了两张提单。提单1针对的是火灾后装上船的货物，对此，船长在提单上批注：“weight, quantity, condition, cont
14、ents and value unknown”;提单2针对火灾前装的损坏的货物，船长加批注说：“cargo covered by this Bill of Lading has been discharged Kandla view damaged by fire and/or water used to extinguish fire for which General Average declared.”在通过信用证付款(UCP600)的情况下，银行是否有权拒绝接受这两份提单？2021/6/417(4) Problems Relating to the Bill of Lading1) P
15、roblems relating to the date.In respect of the date prior to or subsequent we can classify it into advanced B/L and antedated B/L.2) Problems of incorrect description of cargo.3) Problems of misdelivery of goods.2021/6/4182. The Carriers Obligations(1) The Seaworthiness（适航性） of the ShipSeaworthiness
16、 means the ship is fit to under take the particular voyage and to carry the particular cargo.On the one hand, the ship is reasonably fit to encounter the “perils of the sea”(海险).On the other hand, the carrier should properly man, equip and supply the ship and make the holds(货仓) and all other parts o
17、f the ship in which goods are carried, fit and safe for their reception.2021/6/419关于船舶是否适航的典型案例1953年5月17日，“Muncaster Castle”号轮运载原告150箱牛舌罐头由澳大利亚前往英国。1953年7月16日，即在伦敦卸货后的第四天，原告发现其中113箱牛舌罐头被海水浸湿。双方约定采用海牙规则处理其争端。法庭查明，该轮在出航澳洲前，曾入坞进行特别检查，以及例行载重线年检。检验完毕后，由于该坞一名有经验的钳工未将第五舱防浪阀螺丝拧紧，所以在从澳洲到英国的航程中海水进入船舱，致使原告货物受损
18、。法院认为，第五舱防浪阀螺丝松动的情况发生在开航前，使货舱、不适宜并安全地收受、运送和保管货物，属于典型的货舱不适航。113箱牛舌罐头被海水浸湿的原因是由于货舱不适航所引起，货舱的不适航与货物损坏之间存在因果关系，根据海牙规则第4.1条，承运人应赔偿因不适航所造成的损失。2021/6/420(2) The Management of the GoodsThe carrier should exercise due diligence to properly and carefully load, handle, stow, carry, keep, care for, and discharg
19、e the goods carried.2021/6/421案例2000年2月20日，我国甲公司向日本乙公司发出要约:愿以每台400美元的价格按照CIF天津价格条件购买电冰箱3000台，总价值120万美元。2000年2月22日，日本乙公司接到我国甲公司发出的要约，2月23日，日本乙公司将3000台电冰箱交给日本环球货运公司装船运输，但日本环球货运公司发现其中有500台电冰箱包装破损，准备签发不清洁提单。但日本乙公司为从日本环球货运公司处拿到清洁提单，在其签发提单前，向日本环球货运公司出具了承担赔偿责任的保函，承运人日本环球货运公司遂给乙公司签发了清洁提单。乙公司持清洁提单按信用证结汇，中国甲公
20、司于2001年3月1日收到货物，发现500台电冰箱有严重质量问题，于是向承运人日本环球货运公司索赔。问题：（1）承运人应否承担责任？（2）如果甲公司向乙公司索赔，你认为索赔能否成立？ 2021/6/422(3) Commencement of Voyage(4) Non-deviation of Voyage(5) Dangerous Goods not to be Shipped2021/6/4233. International Conventions Comparison(1) Scope of ApplicationThe Hague Rules and the Hague-Visby
21、 Rules provide the provisions shall apply to all bills of lading issued in any of the contracting states. The Hamburger Rules further extends the application. It provides the provisions are applicable to all contracts of carriage by sea between two different states, if:2021/6/4241) the port of loadi
22、ng as provided for in the contract of carriage by sea is located in a contracting state;2) the port of discharge as provided for in the contract of carriage by sea is located in a contracting state;3) one of the optional ports of discharge provided for in the contract of carriage by sea is the actua
23、l port of discharge and such port is located in a contracting state;2021/6/4254) the bill of lading or other document evidencing the contract of carriage by sea is issued in a contracting state;5) the bill of lading or other document evidencing the contract of carriage by sea provides that the provi
24、sions of this Convention or the legislation of any state giving effect to them are to govern the contract.2021/6/426(2) Period of ResponsibilityIn respect to the Hague Rules and the Hague-Visby Rules, “Carriage of goods” covers the period from the time when the goods are located on to the time they
25、are discharged from the ship. Under the Hamburger Rules the responsibility of the carrier for the goods covers the period during which the carrier is in charge of the goods at the port of loading, during the carriage and at the port of discharge.2021/6/427(3) Basis of LiabilityUnder the Hague Rules
26、and the Hague-Visby Rules neither the carrier nor the shipper shall be liable for loss or damage arising or resulting from unseaworthiness.In respect to the Hamburg Rules, the carrier is liable for loss resulting from loss of or damage to the goods, as well as from delay in delivery, if the occurren
27、ce which caused the loss, damage or delay took place while the goods were in his charge.2021/6/428(4) GoodsUnder the Hague Rules and the Hague-Visby Rules, “Goods” includes goods, wares, merchandise and articles of every kind whatsoever except live animals and cargo which by the contract of carriage
28、 in stated as being carried on deck and is so carried.In respect to the Hamburg Rules, “Goods” includes live animals; where the goods are consolidated in a container, pallet or similar article of transport or where they are packed, goods includes such article of transport or packaging if supplied by
29、 the shipper.2021/6/429(5) The limit of Indemnity(赔偿的限额)Under the Hague Rules the carrier shall be liable for any loss or damage to or in connection with goods in an amount exceeding 100 pounds sterling per package or unit, or the equivalent of that sum in other currency unless the nature and value
30、of such goods have been declared by the shipper before shipment and inserted in the bill of lading.2021/6/430The Hague-Visby Rules increased the maximum liability amount of the carrier for loss or damage to 666.67 SDRs per package or 2 SDRs per kilo of gross weight of the goods loss or damaged.2021/
31、6/431The limit of liability for carriers under the Hamburg Rules was raised to 835 SDRs per package or 2.5 SDRs per kilo of gross weight of goods lost or damaged, whichever is greater. There was a 25% elevation in it comparison with the Hague-Visby Rules.2021/6/432(6) Guarantees by the ShipperGuaran
32、tees are not mentioned clearly under the Hague Rules and the Hague-Visby Rules.Under the Hamburg Rules article 17, a letter of guarantee or agreement may be valid. The shipper is deemed to have guaranteed to the carrier the accuracy of particulars relating to the general nature of the goods, their m
33、arks, number, weight and quantity as furnished by him for insertion in the bill of lading. 2021/6/433The letter of guarantee or agreement without a reservation relating to particulars furnished by the shipper for insertion in the bill of lading, or to the apparent condition of the goods, is void and
34、 of no effect as against any third party, including a consignee, to whom the bill of lading has been transferred.2021/6/434(7) Notice of Loss, Damage or Delay and Limitation of ActionsUnder the Hague Rules notice of loss or damage is given in writing to the carrier or his agent at the port of discha
35、rge before or at the time of the removal of the goods into the custody of the person entitled to delivery under the contract of carriage, or if the loss or damage be not apparent, within three days, such removal shall be prima facie evidence of the delivery by the carrier of the goods as described i
36、n the bill of lading. 2021/6/435Under the Hague-Visby Rules the carrier shall be discharged from all liability if the suit is not brought within one year of their delivery or of the date when they should have been delivered.2021/6/436Under the Hamburg Rules the time is prolonged. The convention requ
37、ires the notice of loss or damage is given in writing by the consignee to the carrier not later than the working day after the day when the goods were handed over to the consignee. Where the loss or damage is not apparent, the notice in writing is given within 15 consecutive days after the day when
38、the goods were handed over to the consignee.2021/6/437(8) Carriers Immunities(豁免权)(9) Jurisdiction(管辖权)The Hague Rules and the Hague-Visby Rules provide nothing relating to the jurisdiction.Under the Hamburg Rules the competent courts within jurisdiction is situated one of the following places:2021/
39、6/4381) The principal place of business or, in the absence thereof, the habitual residence of the defendant; or2) The place where the contract was made, provided that the defendant has there a place of business, branch or agency through which the contract was made; or3) The port of loading or the po
40、rt of discharge; or 4) Any additional place designated for that purpose in the contract of carriage by sea.2021/6/4394. Waybill(运货单，乘客名单)A waybill is a document issued by a carrier giving details and instructions relating to the shipment of goods. Unlike a bill of lading, a waybill is not a document
41、 of title. The waybill is a receipt and not negotiable. It has the virtue of convenience, lower cost and it avoids some frauds.2021/6/440IV. Law of International Cargo Insurance1. Introduction(1) Definition of InsuranceA policy of insurance is a contract under which one party (the insurer) agrees, i
42、n return for a consideration, to indemnify another (the insured) for loss suffered as a result of the occurrence of a specified event.2021/6/441(2) Related Terms1) Applicant/Policy holder 投保人2) Insurer（保险人）3) Assured（被保险人）4) Insurable interest（保险利益）5)Premium （保险费）6)Beneficiary 受益人7）Insurance agent 保
43、险代理人8）Insurance broker 保险经纪人2021/6/442(3) Conventions and Customs1) Agreement on Establishing the Asian Reinsurance Corporation.2) Convention on Limitation of Liability for Marine Claims 1976.3) Institute Marine Cargo Clauses.4) York-Antwerp Rules 2004.2021/6/4432. Insurance Contract(1) DefinitionA
44、contract is which an insurer agrees, in consideration of money paid to the insurer by the assured, to indemnity the latter against loss resulting from the happening of specified events.(2) Insurance Policy（保险单，保险契约）.1) Valued policy（定值保险）.Valued policy means that the insurer pays a specified amount
45、irrespective of the extent of loss and without making any allowance for appreciation or depreciation.2021/6/4442) Voyage policy（航程保险） and time policy（期限/定期保险）.Voyage policy covers risks that arise during an entire transit period irrespective of how long it takes. Time policy covers risks arising dur
46、ing a specified period.2021/6/4453) Floating policy（流动保险）.Insurance cover for situations where the total insurable amount can be reasonably estimated but cannot be determined accurately-enough for computing correct premium, until the insurance policy comes to an end.2021/6/4464) Open policy（开口保险/预约保
47、险）.Open policy is a marine cargo insurance policy in which the insurer agrees to cover any voyage undertaken by the policyholders vessel(s) or any cargo shipped by a particular shipper.2021/6/4473. Basic Concept Underlying Cargo Insurance Law(1) Insurable interestA person has an insurable interest i
48、n something when loss or damage to it would cause that person to suffer a financial loss or certain other kinds of losses. A basic requirement for all types of insurance is that the person who buys a policy must have an insurable interest in the subject of the insurance.2021/6/448(2) The Principle o
49、f Indemnity（赔偿原则）/Principle of Subrogation(代位求偿原则)The value of the interest of the damaged subject matter determines the amount of the indemnity recoverable. The value is usually the market value, and the insured is not entitled to profit from the loss.2021/6/449(3) Principle of Utmost Good Faith（诚实
50、信用原则）The doctrine of disclosure is the most important consequence of the principle of utmost good faith. During the negotiations for a contract of insurance both parties are under a duty to disclose all facts of which they are aware and which are material to the proposed insurance. An insurer is to
51、disclose its knowledge. Warranty is an important content of this principle. It means the assured guaranteed to do or not to something.2021/6/450(4) The Principle of Proximate Cause(近因原则)Proximate cause is the primary cause of an injury. It is not necessarily the closest cause in time or space or the
52、 first event. It is approximate to the effect and exerts a deciding and dominates function leading to an injury. It is also known as legal cause.The determination of principle of proximate cause turned from time standard to effect standard.2021/6/451Determination of the principle of proximate cause案
53、情介绍：在“一战”期间，一艘名为Ikaria的船被德国潜水艇的鱼雷击中，致使船体受损而进水，但该船在拖轮的协助下进了法国的勒阿弗尔港，并停泊在该港的码头边上。可是，该港的港务局担心该船会沉没从而阻碍这个码头的使用，因此，港务局就命令该船到港外抢滩或移泊到防波堤外。最终，该船选择停靠在防波堤外。但是，由于停靠处的风浪较大和Ikaria号被鱼雷击中后头重脚轻的共同作用，致使该船随退潮而搁浅，随涨潮又起伏，直至最终沉没。在该案中，Ikaria号投保的是“海上危险”，“敌对行为和类似战争行为的一切后果”是除外责任。问题：保险人是否应对Ikaria号的损失负赔偿责任？2021/6/4524. Risks
54、 and Losses(1) Perils of the Sea（海上风险）It includes natural calamities and fortuitous accidents.(2) Extraneous Risks（外来风险）(3) Losses2021/6/453(4) Total LossIt means that destruction of an asset or property is to the extent that nothing of value is left, and the item cannot be repaired or rebuilt to it
55、s pre-destruction state. Act loss includes Actual Total Loss（实际全损） (ATL) and Constructive Total Loss（推定全损） (CTL).2021/6/454(5) Partial LossIn maritime law, losses or damages, less than total, to maritime property are caused by the perils of the sea.1) Particular average(单独海损). Its one that is borne
56、by the owner(s) of the lost or damaged property and not all of the cargo owners.2) General average(共同海损). 2021/6/455General average requires a general average act when, and only when, any extraordinary sacrifice or expenditure is intentionally and reasonably made or incurred for the common safety fo
57、r the purpose of preserving from peril the property involved in a common maritime adventure.General average requires all cargo owners to contribute to compensate the losses caused to those whose cargo has been lost or damaged. 2021/6/456General average is in use when:(a) A general average loss is a
58、loss caused by or directly consequential on a general average act.(b) There is a general average act where any extraordinary sacrifice or expenditure is voluntarily and reasonably made or incurred in time of peril for the purpose of preserving the property imperiled in the common adventure.2021/6/45
59、7(c) Where there is a general average loss, the party on whom it falls is entitled, subject to the conditions imposed by maritime law, to a ratable contribution from the other parties interested, and such contribution is called a general average contribution.2021/6/458(6) Expenses1) Sue and labor ex
60、pense（施救费用）. Sue and labor expenses are made by the insured or his agent to prevent them from suffering further losses.2) Salvage charges（救助费）. Salvage charges are made to those other than the insured, the carrier and the insurer who come to the salvage of the ship and the consignment.2021/6/4595. C
61、hina Insurance Clauses (C.I.C.)(1) China Insurance Clauses (C.I.C.)Under C.I.C., basic risks coverage falls into three groups: Free from Particular Average (F.P.A.) (平安险), With (Particular) Average (W.A. or W.P.A.)(水渍险) and All Risks(一切险).(2) FPA (Free from Particular Average)A clause which exempts
62、the company insuring cargo from partial losses, usually limited to apply only if the amount is less than an agreed sum, or if some other described condition exists. 2021/6/460(3) WPA (With Particular Average)WPA also covers partial losses of the insured goods caused by heavy weather, lightning, tsun
63、ami, earthquake and/ or flood.(4) All RisksAll Risks provide the broadest form of insurance cover, generally excludes losses due to bad packaging, delay, inherent vice(固有缺陷), loss of market, etc.2021/6/461(5) Additional Risks(附加险)Under C.I.C. additional risks fall into general additional risks(一般附加险
64、) and special additional risks(特别附加险). General additional risks are covered by All Risks in basic insurance coverage and fall into 11 types.(6) Exclusions2021/6/4621) Loss or damage caused by the intentional act or fault of the insured.2) Loss or damage falling under the liability of the consignor.3
65、) Loss or damage arising from the inferior quality or shortage of the insured goods prior to the attachment of this insurance.2021/6/4634) Loss or damage arising from normal loss, inherent vice or nature of the insured goods loss of market and/or delay in transit and any expenses arising there from.
66、5) Risks and liabilities covered and excluded by the ocean marine (cargo) war risks clauses and strike, riot and civil commotion clauses of this Company.(7) Warehouse to Warehouse Clause2021/6/4646. Institutes Cargo Clauses (I.C.C.)(协会货运保险条款)Under the I.C.C., the insurance coverage falls into 6 clau
67、ses: Institute Cargo Clauses A (ICC A); Institute Cargo Clauses B (ICC B); Institute Cargo Clauses C (ICC C); Institute War Clauses; Institute Strikes Clauses; Malicious Damage Clauses.2021/6/465(1) A ClausesThis insurance covers all risks of loss or damage to the subject-matter insured except exclu
68、sions. The exclusions include:1) General Exclusion Clause.2) Unseaworthiness and Unfitness Exclusion Clause.3) War Exclusion Clause.4) Strike Exclusion Clause.(2) B Clauses(3) C Clauses2021/6/466Exercises1. Please state the differences between a voyage charter and a time charter.2. Under the bill of
69、 lading, what are the carriers obligations?3. Compare the Hague Rules and the Hague-Visby Rules with Hamburg Rules and tell the differences between them.2021/6/467Chapter Seven Finance of International TradeI. Bills of ExchangeII. Collection（托收） and URC522 III. Letters of Credit2021/6/468I. Bills of
70、 Exchange1. DefinitionA bill of exchange is a written order directing a specified sum of money be paid to a specified person.2. Parties to a Bill of Exchange(1) Acceptor（承兑人）, the party to whom a bill of exchange is addressed and who accepts a bill of exchange drawn on him.2021/6/469(2) Drawee（付款人）,
71、 the party to whom the bill of exchange is addressed, who is required to pay the stipulated sum of money (the face value of the bill) at a specified future date to the payee named on the bill or to bearer.(3) Drawer（出票人）, the party who issues the bill, who makes the order for the bill to be accepted
72、 and paid.2021/6/470(4) Endorser（背书人） (sometimes written indorser), the party signing on the reverse of the bill as confirmation of purchase and title to the bill.(5) Payee（收款人）, the person to whom the face value of a bill of exchange is to be paid (as with a cheque).2021/6/471II. Collection（托收） and
73、 URC522 1. Basics of Collection(1) DefinitionAccording to URC522, collection means the handling by banks of documents as defined in sub-Article 2(b), in accordance with received, in order to: 1) obtain payment and/or acceptance, or 2) deliver documents against payment and/or against acceptance, or 3
74、) deliver documents on other terms and conditions.2021/6/472(2) Types“Clean collection”(光票托收) means collection of financial documents not accompanied by commercial documents; “documentary collection”(跟单托收) means collection of (a) financial documents accompanied by commercial documents（商业单证）; (b) com
75、mercial documents not accompanied by financial documents(金融单据).2021/6/473(3) Parties Involved under Collection1) Principal（委托人）, the one who draws the bill of exchange and authorizes his bank to effect the collection.2) Remitting Bank（开证行）, the bank authorized by the drawer of the draft to effect co
76、llection from the buyer.2021/6/4743) Collecting Bank（代收行）, the bank authorized by the remitting bank to collect the payment from the drawee, or the buyer of the goods.4) Presenting Bank（提示行）, the bank authorized by the collecting bank to present the draft and shipping documents to the drawee.5) Draw
77、ee（付款人）, usually the buyer of the goods who should make payment of the goods in time.2021/6/4752. Documentary CollectionDocumentary Collection is a process, in which the seller instructs his bank to forward documents related to the export of goods to the buyers bank with a request to present these d
78、ocuments to the buyer for payment, indicating when and on what conditions these documents can be released to the buyer.2021/6/476(1) Document against Payment (D/P)（付款交单）1) Under D/P, the buyer can receive the documents only after he has duly made the payment of the goods.2) It can further be of two
79、types: D/P at sight （即期付款交单） and D/P after sight（远期付款交单）.2021/6/477(2) Document against Payment at Sight (D/P at Sight)1) Under D/P at sight, the seller hands over the shipping documents to the remitting bank.2) The buyer, upon sight, should then make the payment and get the shipping documents.3) Wh
80、en the collecting bank has thus finished the collection, it should immediately notify the remitting bank which will then make payment to the seller.2021/6/478(3) Documents against Payment after Sight (D/P after Sight)1) D/P after sight, the seller hands over the shipping documents together with the
81、time draft(远期/定期汇票) to the remitting bank.2) The buyer, upon sight, should first make acceptance to the draft and make the payment at the maturity of the bill in exchange for the shipping documents.2021/6/479(4) D/P. T/R(信托收据)1) Under the D/P after sight, in order to avoid possible delay and get the
82、 goods as soon as possible, the buyer can present a trust receipt and borrow the shipping documents from the collecting bank upon the maturity of the draft, and effect the payment of the goods.2021/6/4802) Trust receipt is a written document presented by the buyer to the collecting bank by which he
83、expresses his wish to take delivery of the goods, make customs clearance, effect storing and make sales of the goods on behalf of the collecting bank.2021/6/4813) This financing convenience is often offered to the buyer by the collecting bank and the collecting bank is then to hold itself responsibl
84、e to the remitting bank and the principal for the payment of the goods upon the maturity of the draft.4) Should the principal agree that the drawee gets the shipping documents with trust receipt, the risks will be borne by the principal.2021/6/482(5) Documents against Acceptance (D/A)(承兑交单)1) Under
85、D/A, the buyer can get the shipping documents from the collecting bank after he has duly accepted the draft.2) This is only applicable to time draft.3) This will greatly convenience the buyer, but it means much more risks for the seller, for once he has delivered the shipping documents, he will have lost his title over the goods.2021/6/483部分资料从网络收集整理而来，供大家参考，感谢您的关注！
