Effective	02APR2007
Filed	02APR2007
Filing Codes	I

1.     DEFINITIONS:
(a) CARRIER: means the carrier named on the face side
hereof, the ocean vessel named on the face of this bill
of lading, her owner, operator, demise charterer, and
the party for whom this bill of lading is signed.
(b) GOODS: includes the goods received from the Merchant
and any container not supplied by or on behalf of the
Carrier.
(c) MERCHANT:  includes the shipper, the consignee, the
receiver of the Goods, the holder of this Bill of
Lading, the lawful owner of the Goods or anyone acting
on behalf of any such persons.
(d) PORT TO PORT SHIPMENT: means that the carriage of
the Goods is from the named port of loading to the named
port of discharge as stated on the face of this Bill of
Lading.
(e) LINER IN: Shall mean, for the purposes of the Bill
of Lading, that the Carrier shall take responsibility
for the Goods upon the Goods coming under the carrying
vessel's hook. The Carrier shall be liable for the risk
and expense of loading the Goods from the time the Goods
come under the carrying vessel's hook.
(f) LINER OUT: Shall mean, for the purposes of this Bill
of Lading, that the Carrier shall cease to have
responsibility for the Goods upon coming to the first
point of rest under the carrying vessel's hook. The
Carrier shall be liable for the risk and expense of
discharging the Goods until the Goods come to the first
point of rest under the carrying vessel's hook ashore.
(g) FREE IN: Shall mean, for the purposes of this Bill
of Lading, that the Goods are received at the port of
loading by the Carrier when the Goods are stowed,
dunnaged, lashed and secured, as may be required for the
stability and seaworthiness of the carrying vessel, at
the last point of rest in the carrying vessel's hold(s)
at which time the Carrier becomes responsible for the
Goods. The loading of Goods under "Free In" (FI) terms
is entirely at the risk and expense of the Merchant and
the Goods.
(h) FREE OUT: Shall mean, for the purposes of the Bill
of Lading, that the Goods are delivered at the port of
discharging upon the commencement of the discharge
operation in the carrying vessel's hold(s) (upon
breaking bulk) which is deemed to commence at the time
removal of dunnage or unsecuring of the Goods commences,
whichever comes first.  The carrier's responsibility
will terminate at upon breaking bulk. The discharging of
the Goods under "Free Out" (FO) terms means the
discharge is entirely at the risk and expense of the
Merchant and the Goods.
(i) FREE IN, OUT, SECURED AND TRIMMED: Shall mean, for
the purposes of this Bill of Lading, that the Goods are
to be loaded, secured by dunnage or shifting boards or
whatever is reasonably required by the Master to insure
the cargo will not shift during the sea passage. The
cargo is sufficiently trimmed to meet the requirements
of SOLAS for shipments in bulk all of which is at the
risk and expense of the Merchant and the Goods. The
Goods are to be likewise discharged at the risk and
expense of the Merchant and the Goods.
(j) SUB-CONTRACTOR:  includes but is not limited to,
Owners and operators of Vessels (other than the
Carrier), the Master, officers and crew of the vessel,
and stevedores, terminal and groupage operators,
warehousemen, watchmen, crane operators, carpenters,
ship cleaners, surveyors, Underlying Carriers and all
other independent contractors employed by the Carrier in
performance of the carriage.
(k) MULTI-MODAL TRANSPORT: Multi-Modal Transport; arises
if the place of receipt and/or the place of delivery are
indicated on the face hereof in the relevant spaces.
 
(l) UNDERLYING CARRIER: includes any water, rail, motor,
air or other Carrier utilized by the Carrier for any
part of the transportation of the shipments covered by
this Bill of Lading.
2.     CARRIER'S TARIFF:
The terms of the Carrier's applicable Tariff are
incorporated herein including the rates, charges and
surcharges. Copies of the relevant provisions of the
applicable Tariff are obtainable upon request. In the
event of any inconsistency between this Bill of Lading
and the applicable Tariff, this Bill of Lading shall
prevail.
3.     WARRANTY:
The Merchant warrants that in accepting this Bill of
Lading he is agreeing to the terms hereof, and he is or
has the authority of the person owning or entitled to
the possession of the Goods and this Bill of Lading.
4.    CLAUSE PARAMOUNT:
(a) Port to Port Shipments:
(1) For shipments to or from ports of the United States
this Bill of Lading shall be deemed to incorporate and
shall have effect subject to the provisions of the
United States Carriage of Goods by Sea Act (COGSA). 
Carrier shall also have the benefit of Sections 181 to
189 inclusive, of Title 46 U.S. Code, and the benefits
of Sections 4281 to 4286, inclusive and Section 4269 of
the United States Revised Statutes, as amended, the same
as if it were the owner of the ship or other water craft
used to transport the Goods.  The Carrier shall have the
benefit of all other statutes of the United States which
may be applicable and which grant to the Carrier
exemption from or limitation of liability.
(2) For shipments between ports outside the United
States this Bill of Lading shall be deemed to
incorporate and shall have effect subject to any
national law making the provisions of the International
Brussels Convention for the Unification of Certain Rules
applicable Relating to Bills of Lading dated 25 August
1924, "the Hague Rules".  However, in circumstances
where the International Brussels Convention 1924 as
amended by the Protocol signed on 23 February 1968 --The
Hague-Visby Rules-- are compulsorily applicable to this
Bill of Lading the Hague-Visby Rules shall apply.   When
any such enactments are not in force in the country of
shipment or country of destination, the provisions of
the U.S. Carriage of Goods by Sea Act (COGSA), as well
as the U.S. Fire Statute, shall apply, provided however,
that a package limitation of USD500 per package as
provided in Clause 11 and elsewhere in this Bill of
Lading will apply and provided further that suit must be
commenced within six (6) months after delivery of the
Goods or the date when the Goods should have been
delivered, failing which the Carrier and the ship shall
be discharged from any loss or damage to the Goods or
with respect to freight, charges and expense, or the
refund thereof or any claim of whatsoever kind, nature
or description with respect to or in connection with the
Goods.
(3) In any event, the Carrier shall be under no
liability whatsoever for loss of, or damage to, the
Goods, howsoever occurring, if such loss or damage
arises prior to loading onto, or subsequent to the
discharge from, the vessel.  Notwithstanding the
foregoing, in the event that any applicable compulsory
law provides to the contrary, the Carrier shall have the
benefit of every right, defense, limitation and
liability set forth in COGSA or the Hague Rules as
applied by this Clause during such additional compulsory
period of responsibility.
(b)     Multi-Modal Transport.
 
(1)     With respect to Multi-Modal transport from, to
or within the United States, when the Goods are in the
custody of the Carrier, or any Underlying Carrier, such
Multi-Modal Transport will be governed by the provisions
of Clause 4(a).  In the event Clause 4(a) is held
inapplicable, then the Carrier's liability will be
governed by and be subject to the terms and conditions
of the Underlying Carrier's Bill of Lading and Tariff
which shall be incorporated herein as if set forth at
length.  Notwithstanding the foregoing, in the event
there is a private contract of carriage between the
Carrier and any Underlying Carrier, such Multi-Modal
Transportation will be governed by the terms and
conditions of said contract which shall be incorporated
herein as if set forth at length and copies of such
contract(s) shall be available to the Merchant at any
office of the Carrier upon request.  When the "Place of
Receipt": box overleaf has been utilized, any notation
on this Bill of Lading of "on board", "loaded on board",
"shipped on board" or words to like effect, shall be
deemed to mean on board the means of transportation
performing the carriage from the Place Of Receipt to the
Port of Lading set out overleaf.
(2)    With respect to Multi-Modal Transport outside the
United States, when the Goods are in the custody of the
Carrier, such transport shall be governed by the
provisions of Clause (4)(a).  Notwithstanding any other
provision to the contrary herein, with respect to
Multi-Modal Transport outside the United States, for
that part of the carriage for which an Underlying
Carrier has issued a Bill of Lading, the Carrier's
liability will be governed by and be subject to the
terms and conditions of the underlying Carrier's Bill of
Lading and Tariff which shall be incorporated herein as
if set forth at length.  However, in the event there is
a private contract of carriage between the Carrier and
any Underlying Carrier, such Multi-Modal transportation
shall be governed by the terms and conditions of said
contract which shall be incorporated herein as if set
forth at length.  For that part of the carriage
performed by an Underlying Carrier who has not issued a
bill of lading governing the carriage and with whom the
Carrier has no private contract, then the Carrier's
liability shall be governed by the law and tariffs
applicable to such part of the carriage, provided
however, that if such laws and tariffs permit it, the
Carrier's limit of liability shall be the lower of the
limit set forth by such laws and tariffs, or the limit
of liability of USD500 as provided in clause 11.  In
addition, and under all circumstances, the Carrier shall
have the benefit of any statute or provision limiting or
exempting the liability of the Underlying Carrier as if
the Carrier were the owner of the underlying vessel or
other means of conveyance.
(3)    With respect to loss/damage to Goods during the
portion of the Carriage as relates to road carriage
between countries in Europe, liability shall be
determined in accordance with the Convention on the
Contract for the International Carriage of Goods by Road
("CMR") dated 19th May 1956; and during rail carriage
between Countries in Europe according to the
International Agreement on Railway Transports ("CIM")
dated 25th February 1961.  With respect to loss/damage
to Goods during the portion of the Carriage as relates
to road or rail transportation within a State other than
the United States, then liability shall be determined in
accordance with the internal law of such State and/or
any international convention which is compulsorily
applicable by the laws of such State.  In the absence of
such laws or conventions then the provisions of Clause
4(b) (4) will apply.
 
(4)    In the event the provisions of this subsection
4(b) (1 to 3) are held inapplicable to any aspect of the
Carriage covered by local law or international
Convention or otherwise, the Carrier shall nevertheless
be relieved of liability for loss or damage occurring
during the Carriage if such loss or damage was caused by
any event which the Carrier could not avoid and the
consequences whereof he could not prevent by the
exercise of reasonable diligence.
(c)    Unknown Liability.  When it cannot be established
in whose custody the Goods were when the loss or damage
occurred, it shall be conclusively presumed to have
occurred during Sea carriage and any liability thereof
shall be governed as provided in Clause 4(a) hereof.
(d)    Subrogation.  When any claims are paid by the
Carrier to the Merchant, the Carrier shall be
automatically subrogated to all rights of the Merchant
against all others, including Underlying Carriers, on
account of such loss or damage.
5.    FORCE MAJEURE CLAUSE:
Without prejudice to any rights or privileges of the
Carrier, under this Bill of Lading or under applicable
provisions of law, in the event of war, hostilities,
warlike operations, embargoes, blockades, port
congestion, strikes or labor disturbances, regulations
of any governmental authority pertaining thereto, or any
other official interferences with commercial
intercourse, arising from one or more of the above
conditions and affecting the Carrier's operations, the
Carrier reserves the right to  cancel  any  outstanding
booking or contract of carriage, or to increase the
rates. The Master and the Carrier shall have the liberty
to comply with any order or directions or
recommendations in connection with the transport under
this Bill of Lading given by any government authority,
or anybody acting or purporting to act on behalf of such
government or authority, or having under the terms of
the insurance of the vessel the right to give such
orders or directions or recommendations. Should it
appear that the performance of the transport would
expose the vessel or any Goods on board to risk or
seizure or damage or delay resulting from war, warlike
operations, blockade, riots, civil commotion or piracy,
or any person on board to the risk or loss of life or
freedom, or that any such risk has increased, the Master
may discharge the cargo at port of loading or any other
safe and convenient port. Should it appear that
epidemic, quarantine, ice, labor obstructions, strikes,
lockouts, any of which occur either on board or on
shore, causing difficulties in loading or discharge or
where the discharge in the usual manner and leaving
again or so likely to be hindered or prevented, always
with safety and without delay, the Master may discharge
the cargo at port of loading or after sailing the load
port any other safe and convenient port. The discharge
under the provisions of this clause of any cargo for
which a Bill of Lading has been issued shall be deemed
due fulfillment of the contract. If any situation
referred to in this clause may be anticipated or if for
any such reason the vessel cannot safely and without
delay reach or enter the loading port or must undergo
repairs, the Carrier may cancel the contract before the
Bill of Lading is issued.
6.    EXTRA LENGTH CHARGES:
The Carrier will accept for transportation articles
measuring over 12 Meters in length, only upon prior
arrangement.  Extra Length Charges, when applicable,
shall be specified by the individual commodity item if
necessary, otherwise as mutually agreed.
7.    AD VALOREM:
 
Unless otherwise agreed, neither the Carrier nor the
vessel shall in any event be or become liable for any
loss or damage to or in connection with the
transportation of Goods in an amount exceeding USD500
per package, or in the case of Goods not shipped in
packages, per customary freight unit, or the equivalent
of that sum in other currency.  Should the Merchant
elect to ship the Goods with a package or customary
freight unit limitation beyond USD500, the Merchant
shall declare the nature and value of the Goods at the
time of booking and in writing prior to delivery of the
Goods to the Carrier. The Merchant shall incorporate the
nature and value of Goods into the Bill of Lading. Ad
Valorem cargo is carried solely at the option of the
Carrier who will retain the option of refusing the Goods
being shipped under Ad Valorem terms.  The Carrier is to
notify the Merchant or his agent of the Carrier's
decision not to carry the Goods under Ad Valorem terms
in writing within 24 hours of the Merchant's tendering
the subject Goods for booking. The Carrier will not
accept any Goods under Ad Valorem terms unless booked 5
days prior to the vessel's arrival at the port of
loading.  It is understood that cargo for which there is
a published Ad Valorem rate in an applicable Tariff will
be accepted for shipment on the same basis as non-Ad
Valorem cargo.  The Carrier shall rate cargo being
shipped on Ad Valorem terms as follows:
The rate assessable to the Goods as per the Tariff Line
Item or agreement plus 10% of the declared value.
Should the Merchant fail to comply with the notices or
other conditions as required under this rule, the
Merchant will be considered to have declared that the
cargo is being shipped subject to the limitation of
liability of USD500 as provided in clause 11 of this
Bill of Lading, regardless of the inclusion of the value
of the Goods in the Bill of Lading.  The Carrier
reserves the right to delete any declaration or
reference to the value of the Goods from any Bill of
Lading covering Goods not being shipped under Ad Valorem
terms.
8.    DANGEROUS OR HAZARDOUS GOODS:
(a) No Goods which are or may become dangerous,
inflammable, damaging or injurious (including
radio-active materials), or which may become liable to
damage any property whatsoever or injure any person
whatsoever, shall be tendered to the Carrier for
Carriage without his express consent in writing, and
without the Container or other covering in which the
Goods are to be carried as well as the Goods themselves
being distinctly marked on the outside so as to indicate
the nature and character of any such Goods and so as to
comply with the IMCO Code and any other applicable
terms, regulations or requirements.  If any such Goods
are delivered to the Carrier without such written
consent and/or marking, or if in the opinion of the
Carrier the Goods are or are liable to become a
dangerous, inflammable or damaging nature, they may at
any time be destroyed, disposed of, abandoned, or
rendered harmless without compensation to the Merchant
and without prejudice to the Carrier's right to freight
and/or claim for damages.
(b) The Merchant undertakes that such Goods are packed
in a manner adequate to withstand the risks of Carriage
having regard to their nature and in compliance with all
laws or regulations which may be applicable during the
Carriage.
(c) Whether or not the Merchant was aware of the nature
of the Goods, the Merchant shall indemnify the Carrier
against all claims, losses, damages or expenses in
consequence of the Carriage of such Goods.
(d) The Carrier has no obligation to make any General
Average contribution in respect of undeclared or
unmarked dangerous Goods or Goods of a damaging nature.
(e) Nothing contained in this Clause shall deprive the
Carrier of any of his rights provided for elsewhere.
9.     MERCHANT'S RESPONSIBILITY:
(a) The Merchant warrants to the Carrier that the
particulars relating to the Goods as set out overleaf
have been checked by the Merchant on receipt of this
Bill of Lading and that such particulars and any other
particulars furnished by or on behalf of the Merchant
are correct.
 
(b) The Merchant shall indemnify the Carrier against all
loss, damage, fines and expenses arising or resulting
from inaccuracies in or inadequacy of such particulars
or from any other causes in connection with the Goods
for which the Carrier is not responsible.
(c) The Merchant shall comply with all regulations or
requirements of customs, port and other authorities, and
shall bear and pay all duties, taxes, fines, imports,
expenses or losses including without prejudice to the
generality of the foregoing, the full return Freight for
the Goods if returned, or if on-carried the full Freight
from the Port of Discharge or the Place of Delivery
nominated herein to the amended Port of Discharge or the
amended Place of Delivery incurred or suffered by reason
of any failure to comply or by reason of any illegal
income for insufficient marking, numbering or addressing
of the Goods and shall indemnify the Carrier in respect
thereof.  If return carriage or on carriage becomes
necessary it shall be at the risk and expense of the
Goods.
(d) The Merchant warrants that no illegal cargo or
unmanifested or improperly described cargo will be
shipped and that it is in compliance with the terms of
the National Customs Carrier Initiative Agreement, and
that the Merchant will be responsible and hold harmless
the Carrier and its respective agents and independent
contractors for any damages, fines, penalties, expenses,
detention and/or demurrage, arrests, attachments, and
other consequences arising out of the carriage of
unmanifested, illegal, or misdescribed cargo including
but not limited to drugs.
(e) With respect to loss and/or damage to the Goods,
liability for which the Carrier is exonerated by law or
the terms of this Bill of Lading, the Merchant shall be
liable for the Carrier's expense of fumigation and of
gathering and sorting loose cargo and of weighing and
expense incurred in repairing damage to and replacing
packing, including all extra handling expenses arising
therefrom.
10.    DELIVERY OF GOODS FOR SHIPMENT AND DEADFREIGHT:
  (a) Unless otherwise specifically agreed by the
Carrier in writing at the time the Goods are confirmed
fully booked on the Carrier's nominated vessel and the
Merchant having been advised of the date the vessel is
scheduled to arrive at the load port, the Merchant shall
be obligated to deliver the Goods so booked to the
Carrier's nominated loading facility not later than
09:00 hours on the day the nominated vessel is scheduled
to arrive and/or load. If the Goods are presented for
delivery after 1200 hours on the day the nominated
vessel is scheduled to arrive and/or load or at a time
later than that which has been agreed at the time of
booking the Goods, the Carrier can refuse the Goods, at
the Carrier's option.  The Merchant shall be assessed
deadfreight for the quantity of Goods that has been
refused due to late delivery.
   (b) Should the Merchant fail to deliver the Goods
booked, either in part or in full, for loading, the
Merchant shall pay deadfreight.
   (c) Deadfreight for the quantity of Goods not
delivered, or rejected by the carrier for late delivery,
is to be calculated on the base freight rate for the
Goods as per the applicable Tariff or agreement only
without any surcharges as may have been applicable had
the Goods actually been shipped.
11.    PACKAGE LIMITATION:
 
  The liability of the Carrier as to the value of
shipment at the rate herein provided shall be determined
in accordance with the value declared on the face of
this Bill of Lading. Should there be no such declaration
by the Merchant the limitation on the Carrier's
liability will be USD500 per package, or in the case of
Goods not shipped in packages, per customary freight
unit, or the equivalent of that sum in other currency.  
Without limitation to the definition of the term
"package" in this Bill of Lading, yachts, machinery
assemblies and other single items of equipment shall be
considered packages for the purposes of this Clause. If
the Merchant desires to be covered for a valuation in
excess USD500, the Merchant must so stipulate in this
Bill of Lading covering such shipments and such
additional liability will be assumed to be the Carrier's
only where the Merchant has made such a request and has
paid an additional charge in accordance with Clause 7
herein on the total declared valuation, in addition to
the stipulated rate on the Goods shipped as specified
herein.
12.    NOTICE OF CLAIM:
  Unless notice of loss or damage and the general nature
of such loss or damage is given in writing to the
Carrier or his representative at the Place of Delivery
(or the Port of Discharge if no Place of Delivery is
named on the face of this document) before or at the
time of delivery of the Goods, or, if the loss or damage
is not apparent, within three (3) days after delivery,
the Goods shall be deemed to have been delivered as
described in this Bill of Lading.
13.    TIME BAR:
  In any event, when COGSA, the Hague Rules or the
Hague-Visby Rules are compulsory applicable to this Bill
of Lading, the Carrier and the ship shall be discharged
from any loss or damage to the Goods or with respect to
freight, charges and expense, or the refund thereof or
any claim of whatsoever kind, nature or description with
respect to or in connection with the Goods, unless suit
is brought within twelve (12) months after delivery of
the Goods or the date when the Goods should have been
delivered. If this Bill of Lading shall be subject to
the Hamburg Rules, any action relating to the carriage
of Goods is time barred if judicial or arbitral
proceedings have not been instituted within a period of
two (2) years from the day of delivery of the Goods or
from the last day on which the Goods should have been
delivered.  When the Hague Rules are applicable to this
Bill of Lading by virtue of Clause 4(a)(2) hereinabove
then the Carrier and the ship shall be discharged from
any loss or damage to the Goods or with respect to
freight, charges and expense, or the refund thereof or
any claim of whatsoever kind, nature or description with
respect to or in connection with the Goods, unless suit
is brought within six (6) months after delivery of the
Goods or the date when the Goods should have been
delivered.  Suit shall not be considered to have been
brought within the time specified unless process shall
have been actually served and/or jurisdiction obtained
over the ship or Carrier within such time.
  A claim for loss and/or damage to Goods occurring
while in the possession of an inland carrier is subject
to the claims filing, notice and time for suit
requirements provided for in the tariff and/or terms and
conditions governing that inland Carrier=s
transportation.  The Merchant should take special notice
that such terms and conditions may prescribe periods
within which are either longer or shorter than that
which governs claims against the Carrier.
14.    SUBSTITUTION, TRANSHIPMENT AND LIGHTERAGE:
  The Carrier shall be entitled but not obliged to
substitute any vessel or other means of transport and to
sub-contract on any terms which are reasonable in the
circumstances the whole or any part of the carriage and
the duties undertaken by the Carrier in relation to the
Goods.  When agreed or customary the Carrier shall
arrange lighterage.
  If the choice of On-carrier or Sub-Contractor or
lighter owner is a reasonable choice in the
circumstances or if it is agreed or understood that this
option of substitution or sub-contraction or lighterage
will actually be used, the Carrier's responsibility
shall be limited to the part of the transport performed
in the vessel named on the face hereof and the Carrier
shall not be liable in respect of other parts of the
transport even if all freight has been collected by him.
15.    SUB-CONTRACTING AND INDEMNITY:
(a) The Carrier shall be entitled to sub-contract on any
terms the whole or any part of the carriage, loading,
unloading, storing, warehousing, handling and any or all
duties whatsoever undertaken by the Carrier in relation
to the Goods.
 
(b) It is hereby expressly agreed that no servant, agent
or Sub-Contractor of the Carrier shall in any
circumstances whatsoever be under any liability
whatsoever to the Merchant for any loss, damage or delay
of whatsoever kind arising or resulting directly or
indirectly from any act, neglect or default on his part
while acting in the course of or in connection with his
employment. Without prejudice to the generality of the
foregoing provisions in this clause, it is understood
and agreed that if it should be adjudged that any person
or entity other than or in addition to the Carrier is
under any responsibility with respect to the Goods or
any other goods, regardless of the port or place where
any loss or damage shall occur and without regard to
whether the Goods covered hereby or any other goods are
being handled or are being damaged directly or
indirectly during any handling, and even if the Goods or
other goods are transported on free in, stowed and/or
free out terms, then every exemption, limitation,
condition and liberty herein contained and every right,
exemption from liability, defence and immunity of
whatsoever nature applicable to the Carrier or to which
the Carrier is entitled hereunder shall also be
available and shall extend to protect every such
servant, agent or Sub-Contractor of the Carrier acting
as aforesaid, as well as to all independent contractors
and any and all persons providing any service whatsoever
regardless for whom acting or by who retained and paid
and for the purpose of all the foregoing provisions of
this clause the Carrier is or shall be deemed to be
acting as agent or trustee on behalf of and for the
benefit of all persons who are or might be his servants,
agents or Sub-Contractors as well as all independent
contractors and any and all persons providing any
service whatsoever regardless for whom acting or by who
retained and paid, and all such persons shall to this
extent be or be deemed to be parties to the contract in
or evidenced by this bill of lading.
 (c) The provisions of Clause 15 (b) including but not
limited to the undertakings of the Merchant contained
therein, shall extend to claims or allegations of
whatsoever nature against other persons chartering space
on the carrying vessel.
16.    INCURRED EXPENSES:
  Whenever it is required that the Carrier incurs
additional expenses for postage, communications and all
message services as a result of error or oversight
and/or negligence by Shipper, Broker or Receiver such
charges shall be paid by the Merchant.
17.    GENERAL DISCLAIMERS AND LIMITATION OF LIABILITY:
(a) All claims for which the Carrier may be liable shall
be adjusted and settled on the basis of the lesser of
the net invoice value of the Goods plus freight and
insurance (if paid), or the applicable market value at
the port of discharge or place of delivery.  In no event
shall the Carrier be liable for any loss of profit or
any consequential loss.  The Carrier has the option, but
not the obligation, to replace lost Goods or repair
damaged Goods.
(b) The Carrier does not undertake that the Goods shall
arrive at the Port of Discharge or Place of Delivery at
any particular time or to meet any particular market or
use, and the Carrier shall in no circumstances
whatsoever and howsoever arising be liable for direct,
indirect or consequential loss or damage caused by
delay. If this exemption from liability shall be invalid
under mandatory Law the liability of the Carrier shall
be limited to the value of the freight or in accordance
with Clause 16 (a) whichever is the lower.
(c) In the event of liability for delivery to the wrong
person the package limitation referred to under Clause
11 shall apply and time to institute suit against the
Carrier will expire one year from the date the Goods
should have been delivered.
18.    SCOPE OF APPLICATION:
(a) The exemptions from liability, defenses and limits
of liability provided for in this Bill of Lading shall
apply in any action against the Carrier for loss or
damage or delay, howsoever occurring and whether the
action be founded in contract or in tort and even if the
loss, damage or delay arose as a result of
unseaworthiness, negligence or fundamental breach of
contract.
(b) Save as is otherwise provided herein, the Carrier
shall, in no circumstances whatsoever or howsoever
arising, be liable for direct or indirect or
consequential loss or damage.
19.    MANDATORY INSPECTION BY AUTHORITIES:
 
 If by order of the authorities of any place, a
Container or package has to be   opened for the Goods to
be inspected, the Carrier will not be liable for any
loss or damage incurred as a result of any opening,
unpacking, inspection or repacking.  The Carrier shall
be entitled to recover the cost of such opening,
unpacking, inspection and repacking from the Merchant.
20.    CONTAINERS:
(A) Merchant Packed Containers:
(1) The Merchant is solely responsible for inspecting
the Container before packing to ascertain its soundness;
if necessary, cleaning the Container before packing and
properly packing, blocking and bracing the Goods inside
the Container.
(2) The Merchant warrants that the container meets all
ISO and/or other international safety standards and is
fit in all respects for the carriage by the Carrier.
(3) If a container has not been packed by or on behalf
of the Carrier, the Carrier shall not be liable for loss
of or damage to the Goods caused by:
(a) the manner in which the Container has been packed,
or
(b) the unsuitability of the Goods for carriage in the
Container supplied, or
(c) the unsuitability or defective condition of the
Container.
(4) The Merchant is to seal the container prior to
delivery of the container to the Carrier and the seal
number is to be included in the Bill of Lading.  If the
seal is intact at discharge or delivery, the Merchant
warrants there will be no claim for shortage or
slackage.
(5) The Merchant shall indemnify the Carrier against any
loss, damage, liability or expense whatsoever and
howsoever arising caused by one or more of the matters
referred to in Clause 20(a).
(B) Carrier Supplied Containers:
(1) If Containers supplied by or for the Carrier are
unpacked at the Merchant's premises, the Merchant is
responsible for returning the empty Containers, with
interiors brushed and cleaned and otherwise in like
condition as found at the time that the Merchant takes
custody of the Containers, to the point or place
designated by the Carrier, his servants or agents,
within the time prescribed, failing which the Merchant
will be liable for all resulting direct, incidental and
consequential demurrage, detention and per diem charges,
however designated, and the Carrier is entitled to take
such steps as it considers appropriate for the account
of the Merchant.
(2) The Merchant's use of a Carrier supplied container
shall be conclusive proof of its sound condition (except
as to latent defects) and its suitability for the Goods.
(3) The Carrier is not liable for any loss caused by any
defective condition of the Container (unless the
Container was supplied by the Carrier and the defect was
latent); the Merchant's failure to clean the Container
before packing or the manner in which the Container has
been packed.
(C) Special Container:
(1) The Carrier does not undertake to provide Goods with
any special care or to carry them in any special
Container.  Neither does the Carrier undertake to carry
any special Containers packed by or for the Merchant. 
Instead, the Carrier will treat such Goods as ordinary
Goods and such special Containers as standard dry cargo
shipping Containers.
 
(2) The Merchant's attention is drawn to the fact that
refrigerated Containers are not designed to freeze or to
chill down Goods which, at the time of packing into the
Container, are not at or below the temperature
designated for Carriage.  The Carrier is not responsible
for Goods which at packing are of a higher temperature
than that required for Carriage.
(3) In no case does the Carrier accept responsibility
for the proper functioning of special Containers
supplied by or for the Merchant.
(4) Any waiver or variation of this Clause 20(C) must be
noted on the face of this Bill of Lading.  Such a waiver
or variation will take effect only after all Freights
have been paid.
(D) Container Chassis:
Except in case of Carrier supplied chassis, it is, at
all times, the obligation of the Merchant, and not the
Carrier, to choose the proper platform, chassis or
trailer for any Container, and to properly place a
Container on a platform, chassis or trailer.  If any
person in the Carrier's control or employment undertakes
to engage in any such activities, they shall be
considered as agents or servants of the Merchant.
21.     INSPECTION OF GOODS:
 The Carrier or any person to whom the Carrier has
sub-contracted the Carriage or any person authorized by
the Carrier shall be entitled, but under no obligation,
to open any Container, package or shipping unit at any
time and to inspect, weigh and/or measure the Goods
and/or weigh the container. The Carrier is not liable
for any loss arising out of the opening or inspection of
the Goods.
22.    CARRIAGE AFFECTED BY CONDITION OF GOODS:
If it appears at any time that the Goods are tendered
for shipment that they cannot safely or properly be
carried or carried further, either at all or without
incurring any additional expense or taking any
measure(s) in relation to the Container or the Goods the
Carrier may without notice to the Merchant take any
measure(s) and/or incur any additional expense to carry
or to continue the Carriage thereof, and/or abandon the
Carriage and/or store them ashore or afloat, under cover
or in the open, at any place which abandonment or
storage shall be deemed to constitute due delivery under
this Bill of Lading.  The Merchant shall indemnify the
Carrier against any additional expense so incurred.
23.    DESCRIPTION OF GOODS:
(a) This Bill of Lading shall be prima facie evidence of
the receipt by the Carrier from the Shipper in apparent
good order and condition, except as otherwise noted, of
the total number of Containers, packages or other units
or weight of the Goods specified on the face hereof.  It
is understood that the Carrier lacks the means to verify
the contents, weights and other particulars supplied by
the Merchant.  The Carrier relies on said
representations as being true and correct, and if found
not to be true and correct, the Merchant is to indemnify
the Carrier for such misdescription or misdeclaration.
(b) Except as provided in Clause 23 (a), no
representation is made by the Carrier as to the weight,
contents, measure, quantity, quality, description,
condition, marks, numbers or value of the Goods and the
Carrier shall be under no responsibility whatsoever in
respect of such description or particulars which are
unknown to it.
 
(c) If any particulars of any Letter of Credit and/or
Import License and/or Sales Contract and/or invoice or
Order Number and/or details of any contract to which the
Carrier is not a signatory and are shown on the face of
this Bill of Lading such particulars are included solely
at the request of the Merchant for his convenience.  The
Merchant agrees that the inclusion of such particulars
shall not be regarded as a declaration of value and in
no way affects the Carrier's liability under this Bill
of Lading.  The Merchant further agrees to indemnify the
Carrier against all consequences of including such
particulars in this Bill of Lading.  The Merchant
acknowledges that, except when the provisions of Clauses
7  (Ad Valorem Carriage) apply, the value of the Goods
is unknown to the Carrier.
24.     ARBITRATION:
Any dispute arising under this Bill of Lading shall be
referred exclusively to three persons at New York, one
to be appointed by each of the parties hereto, and the
third by the two so chosen; their decision or that of
any two of them shall be final, and for the purpose of
enforcing any award, this agreement may be made a rule
of the Court. The arbitrators shall be members of the
Society of Maritime Arbitrators, Inc. of New York and
the proceedings shall be conducted in accordance with
the Rules of the Society.
25.    FREIGHT:
(a) Freight shall be deemed fully earned on receipt of
the Goods by the Carrier and shall be paid discountless
and nonreturnable, vessel and/or cargo lost or not lost.
(b) The Merchant's attention is drawn to the
stipulations concerning currency in which the freight is
to be paid irrespective of the rate of exchange,
devaluation and other contingencies relative to the
agreed freight payment.
(c) Freight has been calculated on the basis of
particulars furnished by or on behalf of the Merchant.
The Carrier may at any time open any Container or other
package or unit in order to identify, weigh, measure or
value the contents and if the particulars furnished by
or on behalf of the Merchant are inaccurate it is agreed
that a sum equal to double the correct freight less the
freight charged shall be payable as liquidated damages
to the Carrier.
(d) All freight shall be paid without any set-off,
counter-claim, deduction or stay of execution before
delivery of the Goods.  Freight not to be recoverable in
or contribute to cargo claims howsoever arising except
proven shortages, in the case of shortage damages to be
limited to a refund of freight unless caused by personal
act or default of the Carrier or its agents.
(e) The persons falling within the definition of
Merchant in Clause 1 shall be jointly and severally
liable for the payment of freight and liquidated damages
as provided above.
26.     LIEN:
 
The Carrier shall have a lien on Goods and any documents
relating thereto for all sums payable to the Carrier for
freight, deadfreight, demurrage and/or detention,
damages, and for all other amounts whatsoever due under
this contract, or any other contract, by any of the
persons defined as Merchants in Clause 1 and for general
average contributions, to whomsoever due.  The Carrier
may exercise his lien at any time and in any place at
his sole discretion whether the contractual voyage is
completed or not.  The lien shall survive delivery of
the Goods.  The Carrier has the right to sell the Goods
at public or private sale without notice to Merchant to
satisfy the lien in whole or in part and the costs of
sale, including reasonable attorneys fees, may be
deducted from the proceeds by Carrier. If the proceeds
of this sale fail to cover the whole amount due, the
Carrier is entitled to recover the deficit from the
Merchant.
Notwithstanding the fact that the Bill of Lading may be
marked "Freight Prepaid", the Carrier's rights to lien
the Goods are preserved if, in fact, the freight has not
been paid.
27.     DECK CARGO:
(a) The Goods may be packed by the Carrier in Containers
at the Carrier's cost and for his convenience.
(b) Goods, including Goods packed in Containers by the
Carrier or the Merchant, may be carried on deck without
notice to the Merchant.  Goods other than livestock,
stowed in any covered-in-space, or packed in a Container
carried on deck shall be deemed to be stowed under deck
for all purposes including, where applicable, COGSA and
the Hague Rules.
(c) If Goods not shipped in Containers are shipped on
deck according to the custom of carrying such Goods, or
if the on deck carriage is stated on the face of this
Bill Lading, then the Carrier is not liable for Loss
and/or damage resulting from any cause incidental to on
deck stowage.
(d) To the extent that Clause 27(a) is adjudged to be
inapplicable or unenforceable, the Carrier shall have
all defenses available under this Bill of Lading or any
other law including COGSA and the Hague Rules.
28.    METHODS AND ROUTE OF CARRIAGE:
(a) The Carrier may at any time and without notice to
the Merchant:
(1) Use any means of carriage whatsoever.
(2) Transfer the Goods from one conveyance to another,
including but not limited to transshipping or carrying
the Goods on another vessel than that named on the face
hereof.
(3) Unpack and remove the Goods which have been packed
into a Container and forward the same in a different
Container or otherwise.
(4) Proceed by any route in its discretion (whether or
not the nearest or most direct or customary or
advertised route) at any speed and proceed to or stay at
any place or port whatsoever, once or more often and in
any order.
(5) Load or unload the Goods at any place or port
(whether or not such port is named on the overleaf as a
Port of Loading or Port of Discharge) and store the
Goods at any such place or port.
(6) Comply with any order or recommendations given by
any government or authority or any person or body acting
or purporting to act as on behalf of such government or
authority or having under the terms of insurance on the
conveyance employed by the Carrier the right to give
orders or directions.
(7) Permit the vessel to proceed with or without pilots,
to tow or be towed, or dry-docked with or without cargo.
 
(b) The liberties set out in Clause 28 (a) may be
invoked by the Carrier for any purpose whatsoever,
whether or not connected with the Carriage of the Goods
including, but not limited to, loading or unloading
other Goods, bunkering, undergoing repairs, adjusting
instruments, picking up or landing any persons,
including but not limited to persons involved with the
operation or maintenance of the vessel and assisting
vessels in all situations. Anything done in accordance
with Clause 28 or any delay arising therefrom shall be
deemed to be within the contractual Carriage and shall
not be a deviation.
(c) By tendering the Goods for carriage without any
written request to the Carrier for a specialized
Container or for carriage other than Break bulk shipment
Merchant accepts that the Carriage may properly be
undertaken with break bulk stowage or in a general
purpose Container at the Carrier's option.
29.     MATTERS AFFECTING PERFORMANCE:
(a) If at any time the Carriage is or is likely to be
affected by any hindrance, risk, delay, difficulty or
disadvantage of any kind (other than the inability to
effect safe, proper or further Carriage of the Goods),
the Carrier may either:
(1) Without notice to the Merchant, abandon Carriage of
the Goods and place the Goods at the Merchant's disposal
at any place or port which the Carrier deems safe and
convenient, whereupon the responsibility of the Carrier
in respect of such Goods shall cease. The Carrier shall
nonetheless be entitled to full freight on the Goods
received for Carriage, and the Merchant shall pay any
additional costs of the Carriage to, and delivery and
storage at, such place or port, or
(2) Upon notice to the Merchant, suspend Carriage of the
Goods and stow them ashore or afloat.  The Carrier will
try to forward the Goods as soon as possible after the
cause of the suspension has been removed, but the
Carrier makes no representation or warranties as to the
maximum period of time between removal of the cause of
suspension and forwarding of the Goods. The Carrier
shall be entitled to payment of such additional freight
as the Carrier may determine, including, but not
restricted to charges for storage, handling and any
other services to the Goods, and for freight from the
Place of Suspension to the Port of Discharge or Place of
Delivery, whichever is applicable, without giving credit
for freight already paid in respect of the Carriage.
(b) The Carrier's abandonment or suspension of Carriage
shall not end or suspend any of its defenses.  The
Carrier's suspension of Carriage shall not affect its
right to subsequently abandon Carriage.
30.    NOTIFICATION AND DELIVERY:
(a) Any mention herein of parties to be notified of the
arrival of the Goods is solely for information of the
Carrier, and failure to give such notifications shall
not expose the Carrier to any liability nor relieve the
Merchant of any obligations hereunder.
(b) If there is no Place of Delivery named on the face
hereof, the Carrier shall be at liberty to discharge the
Goods at the Port of Discharge without notice, directly
as they come to hand, at or on any wharf, quay or place
on any day and at any time whereupon the liability of
the Carrier (if any) in respect of the Goods discharge
as aforesaid shall wholly cease, notwithstanding any
custom of the port to the contrary and notwithstanding
any charges, dues or other expenses that may be or
become payable. The Merchant shall take delivery of the
Goods upon discharge.
 
(c) If there is a Place of Delivery named on the face
hereof, the Merchant shall take delivery of the Goods in
accordance with the Bill of Lading Contract and/or the
Tariff registered and published with the appropriate
maritime authority (see Clause 2).
(d) If the delivery of the Goods is not taken by the
Merchant at the time and place set forth in 30(b) or (c)
, the Carrier is entitled to call upon the Merchant to
take immediate delivery thereof, failing which the
Carrier shall be entitled, without further notice, to
unpack the Goods if packed in Containers and/or store
the Goods ashore, afloat, in the open or under cover, at
the sole risk and expense of the Merchant. Such storage
shall constitute due delivery hereunder, and thereupon
the liability of the Carrier in respect of the Goods
stored as aforesaid shall wholly cease, and the costs of
such storage (if paid or payable by the Carrier or any
agent or sub-contractor of the Carrier) shall forthwith
upon demand be paid by the Merchant to the Carrier or
the Carrier's assign.
(e) If the Merchant fails to take delivery of the Goods
within thirty (30) days of delivery becoming due under
Clause 30 (b) or (c), or sooner if in the opinion of the
Carrier they are likely to deteriorate, decay, become
worthless or incur charges whether for storage or
otherwise in excess of their value, the Carrier may,
without prejudice to any other rights which he may have
against the Merchant, without notice, and without any
responsibility whatsoever affecting him sell or dispose
of the Goods and apply the proceeds of the sale in
reduction of the sums due to the Carrier from the
Merchants in respect to this Bill of Lading.
(f)If, at the place where the Carrier is entitled to
call upon the Merchant to take delivery of the Goods
under Clause 30 (b) or (c) the Carrier is obliged to
hand over the Goods into the custody of any customs,
port or other authority, such hand over shall constitute
due delivery to the Merchant under this Bill of Lading.
(g) Refusal by the Merchant to take delivery of Goods,
including damaged Goods, in accordance with the terms of
this Clause shall constitute a waiver by the Merchant to
the Carrier of any claim whatsoever relating to the
Goods or the Carriage thereof.
(h) In the event of the Carrier agreeing, at the request
of the Merchant, to any change of destination, the terms
of this Bill of Lading shall continue to apply until the
Goods are delivered by the Carrier to the Merchant at
the amended Port of Discharge or Place of Delivery,
whichever is applicable unless the Carrier specifically
agrees in writing to the contrary.
31.    FULL CONTAINER LOAD ("FCL") MULTIPLE BILLS OF
LADING:
(a) Goods will only be delivered in a Container to the
Merchant if all Bills of Lading in respect to the
contents of the Container have been surrendered
authorizing delivery to a single Merchant at a single
Place of Delivery. In the event that this requirement is
not fulfilled, the Carrier may unpack the Container and,
in respect of the Goods for which Bills of Lading have
been surrendered, deliver these to the Merchant on an
Less Than Container Load ("LCL") basis. Such delivery
shall constitute due delivery hereunder, but will only
be effected against payment by the Merchant of LCL
service charges and any charges appropriate to LCL goods
together with actual costs incurred for additional
services rendered.
(b) If this Bill of Lading forms part of an FCL shipment
for which multiple Bills of Lading have been issued (as
evidenced by the qualification of the tally acknowledged
on the overleaf) then the following is to be remarked on
page 2 hereof:
 
"One of ______ part cargoes in Container No. _____. The
Goods detailed on this Bill of Lading are said to
comprise part of the contents of the Container
indicated.  If the Carrier is required to deliver the
Goods to more than one Merchant and if all or part of
the total Goods within the Container consists of bulk
Goods or non-segregated Goods, or is or becomes mixed or
unmarked or indefinable, the holders of the Bill of
Lading relating to the Goods within the Container shall
take delivery thereof (including any damaged portion)
and bear any shortage in such proportion as the Carrier
shall in his absolute discretion determine, and such
delivery shall constitute due delivery hereunder."
32.    GENERAL AVERAGE:
(a) In the event of accident, danger, damage or disaster
before or after the commencement of the voyage resulting
from any cause whatsoever, due to negligence or not, for
which, or for the consequence of which, the Carrier is
not responsible by statute, contract or otherwise, the
Merchant shall contribute with the Carrier in general
average the payment of any sacrifices, losses or
expenses of a general average nature that may be made or
incurred and shall pay salvage and special charges
incurred in respect of the Goods.
(b) General average shall be adjusted according to the
York/Antwerp Rules of  1994 as amended , at London or
New York or any other port or place, at the option of
the Carrier, whether declared by the Carrier, or a
Sub-contractor or Underlying Carrier. The Merchant shall
give such cash deposit or other security as the Carrier
may deem sufficient to cover the estimated general
average contribution of the Goods and any salvage and
special charges thereon before delivery, if the Carrier
so requires, or if the Carrier does not so require,
within three (3) months of the delivery of the Goods
whether or not at the time of delivery the Merchant had
notice of the Carrier's lien. The Carrier shall be under
no obligation to exercise any lien for general average
contribution due to the Merchant. In the event of any
general average credit balances due to Merchants still
being unclaimed five (5) years after the date of issue
of the adjustment, these shall be paid to the owner or
disponent owner of the vessel, who will hold such credit
balances pending application by the Merchants entitled
thereto. The Merchant expressly renounces Article 70 of
the Dutch Commercial Code and Article 148 Chapter 2 of
the Belgian Commercial Code as void as any similar
provisions of any other legislation.
(c) If a salving vessel is owned or operated by the
Carrier, salvage shall be paid as fully as if the saving
vessel or vessels belonged to strangers.
33.    VARIATION OF THE CONTRACT:
No servant or agent of the Carrier shall have the power
to waive or vary any of the items of this Bill of Lading
unless such waiver or variation is in writing and is
specifically authorized or ratified in writing by the
Carrier.
34.    VALIDITY:
 In the event that anything herein contained is
inconsistent with any applicable international
convention or national law which cannot be departed from
by private contract, the provisions hereof shall, to the
extent of such inconsistency but no further, be null and
void.
35.    ROLL-ON/ROLL-OFF SHIPS:
 
 When the carrying ship is a vessel intended for the
carriage of roll-on/roll-off cargo, it is a term of this
contract that the parties agree that the ship is
designed for the purpose and designed to accommodate
cargo on deck. Accordingly, it is agreed that the Goods
or cargo shipped under this Bill of Lading, including
any vehicles, trailers or containers, may be carried
either on or under deck without notice to the shipper or
to any other party unless otherwise specifically
requested by the shipper in writing. Cargoes carried on
deck shall be subject to all provisions of the COGSA as
applicable, unless otherwise mandated by the National
law at the port and/or point of delivery, and shall be
treated for all purposes, including General Average, as
if stowed under deck.
36.    HEAVY LIFT:
The Carrier in his sole discretion shall accept Goods
weighing in excess of 20 metric tons.  If as a result of
carrying these Goods a container and/or other Goods are
damaged the Merchant hereby agrees to indemnify the
Carrier for any and all losses for which the Carrier may
be found liable.  The Carrier reserves the right to
charge additional freight if the weight is greater than
that which the Merchant declares, and the Merchant shall
be strictly liable for any and all consequences of such
misdeclaration.
37.    FOR IRON AND STEEL CARGOES:
The term, apparent good order and condition, when used
in this Bill of Lading with reference to iron, steel or
any metal products does not mean that the Goods, when
received were free of visible rust or moisture.  If the
Merchant so requests, a substitute Bill of Lading will
be issued omitting this definition and setting forth any
notations as to rust or moisture which may appear on the
mates or tally clerks receipts.  Further the Carrier
shall in no circumstances whatsoever be responsible or
liable for atmospheric rust or superficial oxidation,
white rust or any other alteration due to unavoidable
sweat or moisture which may affect the external aspects
of the iron, steel or other metal products, nor will the
Carrier be responsible or liable for the internal sweat
or moisture within the packages supplied by the
Merchant.
38.    FRAGILE GOODS:
 Articles of glass or contained in glass or any other
article(s) of a fragile nature is accepted for carriage
entirely at the Merchants' risk and the Merchants
acknowledge and agree by accepting this Bill of Lading
that the Carrier shall no be liable for any damage or
breakage or other loss to the Goods.
39.    SPECIAL GOODS:
 The Carrier shall not be liable for the theft and or
loss of gold, silver, other precious metals, gems and
stones in a manufactured state or not, specie,
ornaments, watches, furs, loose gems or stones,
securities, paper or coined currency, documents or other
papers of value, silk, paintings, porcelain, glassware
or other precious and/or valuable objects nor shall the
Carrier for damage to the aforesaid unless the value and
nature of Goods is declared to the Carrier at the time
of fixing the carriage of the Goods, latest prior to
loading of such Goods.  The value and nature of the
Goods are to be inserted into the Bill of Lading and
freight is to be calculated according to the Ad Valorem
terms stated herein.  This clause is to also apply to
containers or packages said to contain personal effects
or household Goods.  All such items are to be packed in
double bags with inside seams and/or in sealed boxes
whose seams have been sealed with wax.  The seal is to
be reproduced in the Bill of Lading and all other
shipping documents and orders arising therefrom.
 
40.    ADDITIONAL BILL OF LADING CLAUSES: The following
clauses are  incorporated into this Bill of Lading and
are made applicable to the carriage of the Goods: BOTH
TO BLAMECOLLISION, NEW JASON CLAUSE, P AND I BUNKERING
CLAUSE, VOYWAR 1993 clauses as printed by the Baltic and
International Marine Conference (BIMCO) are incorporated
as if fully written in this Bill of Lading.  A copy of
the referenced clauses can be obtained from the Carrier
or BIMCO.

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