Professional Documents
Culture Documents
Admiralty Or
Law of the sea or body of law applied to maritime cases.
Maritime Law
Constructive Total
Loss although not actually total, is of such a character that
Loss/ Technical
insured is entitled, to treat it as total by abandonment.
Total Loss
Damages that the shipper has to pay when he keeps the ship
beyond her lay days or the provision of demurrage beyond
period. Also referred to as demurrage. But in reality they are
Detention Damages
different because in demurrage there is no breach of contract
at all for the charterer has simply bargained for an option to
keep the vessel waiting for an additional period.
Signifies all the benefits derived by the owner either from the
Freightage chartering of the ship or its employment for the carriage of his
own goods or those of others.
It includes all the damages and expenses which are deliberately
General Or Gross
caused in order to save the vessel, its cargo, or both at the same
Average
time, from a real and known risk.
The owner of a ship has in all cases insurable interest in it, even
Insurable Interest if it has been chartered by one who covenants to pay him its
value in case of loss.
Loan made on the goods laden on board, the ship and which are
Loan On to be sold or exchanged in the course of the voyage, the
Respondentia borrower’s personal responsibility is deemed the principal
security for the performance of the contract.
One who is vested with the exclusive authority over the: The
registration and documentation of Philippine vessels; the
issuance of all certificates, licenses and other documents
MARINA necessary or incident to such registration and documentation;
and the approval of any contracts or transactions which directly
or indirectly affect the title of registered vessels such as sale,
mortgages, and charter.
Principle Of “No Without the salvage property, there can be no salvage; without
Cure, No Pay” success there can be no reward.
Pro Tanto It is a partial payment made on delay.
Real And
Liability of agent or shipowner in connection with maritime
Hypothecary
contracts is confined or limited to the res.
Nature
Right Of It occurs before the execution of the sale and the action is
Pre-Emption against the seller.
Right Of It occurs after the sale is made and the action is against the
Redemption purchaser.
Time Policy A policy which limits the risks to a specified period of time.
Value Policy Is one in which the parties have agreed on the value of the
subject matter of the insurance.
Vessels When the mercantile law speak of vessels, they refer solely and
Contemplated In exclusively to merchant ships, as they do not include warships;
Maritime they almost always refer to craft which are not accessory to
Commerce another, as in this case of launches and lifeboats.
Occurs when the charterer hires the vessel for a single voyage;
vessel manned and navigated by the owner; adaptable to any
Voyage Charter
commercial situation the object of which is the moving of a
shipload of cargo from one point to another.
Voyage Policy Is one which covers loss on a trip between designated termini.