Liability in Case of Canal Closure

Quelle: https://iccwbo.org/resources-for-business/incoterms-rules/incoterms-2020/

TL;DR

A contractual and legal framework in logistics that specifies when a carrier, shipper, or consignee is liable for losses or damages caused by the closure of a major shipping canal (such as the Suez or Panama Canal). It addresses consequences for delays, rerouting, and extra costs, typically governed by contract terms, Incoterms, and applicable law, with exceptions for force majeure …

Related Terms

You might also be interested in these terms

liability limit

Maximum amount of liability that a carrier or logistics provider may be required to compensate for damages, loss, or delay under contract, law, or tar...

Learn more

liability cap

A contractual or legal limit on the amount recoverable for loss, damage, or delay of goods, capping the liable amount that a party (such as a carrier ...

Learn more

liability cap

The liability cap is the maximum amount or value for which a carrier or shipper is liable for damages, losses, or delays, unless a higher amount is pr...

Learn more

Liability limit

In logistics, a liability limit refers to the contractually agreed maximum amount for which a carrier or freight forwarder is liable for loss or damag...

Learn more

liability cap

The liability cap is the legally or contractually fixed maximum amount that a person or entity, typically the carrier, can be held responsible for dam...

Learn more

duty liability

Duty liability denotes the contractual or statutory obligation of a party (often the importer, carrier, or party responsible for customs) to pay or en...

Learn more

⚖️ ICC Incoterms 2020

Incoterms 2020 Simulator: Who bears costs & risk?

Analyze all 11 Incoterms 2020: cost matrix, risk timeline, insurance gap detector and customs responsibility – free, no login required.

Incoterms Simulator →