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Sunday, 19 June 2016

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ICC develops transport guide

Masakorala, member of expert group:

Contracts of sale and transport can be tricky even for the most experienced professionals.

The slightest of errors may cause substantial repercussions such as detained shipments, spoiled supply chain planning, wrong cost allocation and delayed payments.

The ICC (International Chamber of Commerce) Guide on Transport and the Incoterms - 2010 Rules was developed by the ICC expert group to bridge the gap between expectations and execution. CEO, Shippers' Academy Colombo, Rohan Masakorala was one of the members of the expert group on the new ICC guide 2016 on Transport and the Incoterms - 2010 Rules, Understanding contracts for carriage.

Masakorala is one of the first Sri Lankans to be part of this global team that developed the rules of law.

"This book was designed subsequent to the Incoterms 2010, as a guide to international transport companies to understand the real liability and the responsibility of the contracts.

We first had a dialogue with ICC when I was the Secretary General of the Asian Shippers' Council in 2010 and subsequently I represented the London-based Global Shippers' Forum (GSF) as well at the ICC as a working group on surcharges. This was a very long walk as we had to consider complication of global transportation and various views," Masakorala said.

"I am glad to be part of this new book that will add value to international trade/transport and would be a good guidance in reviving national laws etc. which would help Sri Lanka too. At ICC we also believe that bad things happen when contracts do not align, and the parties to one do not necessarily understand the obligations set forth in the other, Sri Lanka too had this experience until few years ago," he said.

In fact, two contracts should be utilized: a sales contract to outline the responsibilities that the seller and buyer have to one another; and a transportation contract that states the commitments between the carrier and the party contracting for carriage.

This division must be made as a contract of carriage involves separate parties and has to adhere to an entirely different set of obligations.

According to an ICC official, the guide provides parties contracting for carriage and related services and those providing them, a clearer understanding of each other's intentions and concerns. Each of the various buyer-seller Incoterms rules is explained to help simplify what is needed of the shipping providers and relevant shipping practices are outlined where possible.

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