INSURERS ITIC (International Transport Intermediaries Club) is warning shipping intermediaries to beware of forged documents which could result in them being liable for substantial claims by cargo owners.
It has never been easier for documents to be forged, said ITIC in its warning to shipping agents to ensure they check details on bills of lading and other documentation to ensure they are genuine.
In the latest issue of its Claims Review, ITIC tells of the case of a Belgian shipping agent which released six containers of castor oil valued at USUS$270,000 against a fraudulent bill of lading.
Containers were to be shipped from India to Belgium and released into the wrong hands because of a forged bill of lading, reports Lloyd's Loading List.
The aggrieved shipper, who held the original bills of lading, had one of the carrier's vessels arrested in India until a bank guarantee was secured at which point the carrier turned on shipping agent for compensation.
ITIC said these forged bills had incorrect details, such as the name of the loading port, and also spelling errors, including the name of the carrier, showing that the agent had been negligent.
The claim brought against the carrier by the shipper was for the cargo value plus costs and interest. The case was fought in the Indian courts, which is usually a slow process.
After almost four years of negotiation, a settlement of $160,000 was agreed - $100,000 less than the original amount claimed. ITIC also reimbursed the carrier's legal costs and bank charges.
WORLD SHIPPING
04 November 2013 - 22:53
Insurer ITIC warns agents of liability accepting forged bills of lading
INSURERS ITIC (International Transport Intermediaries Club) is warning shipping intermediaries to beware of forged documents which could result in them being liable for substantial claims by cargo owners.
WORLD SHIPPING
04 November 2013 - 22:53
Insurer ITIC warns agents of liability accepting forged bills of lading
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