Prior to the Vilnius Protocol, the principal objective of OTIF was to develop uniform systems of law which could apply to the carriage of passengers and freight in international rail traffic. The membership of Iraq , Lebanon and Syria have been suspended until international railway traffic with these countries is restored. Jordan has been an associate member since 1 August The Secretary General provides the secretariat services.
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Rail consignment note confirms that the rail carrier has received the goods and that a contract of carriage exists between trader and carrier. Key details to be provided in the note include: a description of the goods; the number of packages and their weight; the names and addresses of the sender and recipient. Important Note 1 : Rail transport document is not a document title of goods, which means that rail transport document is a non-negotiable transport document.
As a result, rail carriers will be able to deliver goods to the consignee without obtaining one original copy of rail transport document. For this reason, exporters and banks issuing bank and confirming bank have to be very careful when working with a letter of credit demanding a rail transport document as a transport document, because neither exporters nor banks could secure goods as a collateral. The Intergovernmental Organisation for International Carriage by Rail OTIF has developed the uniform systems of law which apply to freight in international through traffic by rail.
In the absence of an indication on the transport document as to the number of originals issued, the number presented will be deemed to constitute a full set. For the purpose of this article, transhipment means unloading from one means of conveyance and reloading to another means of conveyance, within the same mode of transport, during the carriage from the place of shipment, dispatch or carriage to the place of destination stated in the credit.
If a credit requires presentation of a transport document covering movement by road, rail or inland waterway, UCP article 24 is applicable.
Friday, June 5, Homepage Letter of Credit Consultancy Contact. Shipper of a Bill of Lading. Payment Methods in International Trade 20 February Irrevocable Letter of Credit Sample 11 January Load more. Electronic Letters of Credit 26 November Swift Messages in Letters of Credit 5 October All Rights Reserved. The articles written on this website are not to be construed as being other than solely for benefit or guidance and there should be no legal imputation associated with the opinions offered.
Neither the owner nor any of its employees, nor any other person acting as a guest blogger, nor this website, shall be liable to any person for any loss or damage arising out of any act or omission in connection with the published articles. Shipping Documents 12 July Working with letters of credit is not easy. It requires high levels of experience and knowledge.
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Rail Transport Document (CIM)
Intergovernmental Organisation for International Carriage by Rail