NMIMS APRIL 2020 ASSIGNMENT - CUSTOM SHIPPING AND INSURANCE

CUSTOM SHIPPING AND INSURANCE

1. There is a campus interview to select a prospective Manager for Import and Export Dept for a company. You have been shortlisted for the interview. The interviewer asks you to explain The Customs Act 1962. You have to inform the total number of chapters, no. of sections, and the section numbers for a Bill of Entry, b Shipping bill, c Tariff value d Public Warehouse.

2. Your company got a voluminous order to export iron pillars, girders, and accessories made of iron to construct a tower in Muscat. This is break bulk and all items have to be sent in loose condition. Your company decides to charter a ship for this and the selection of correct option of charter party agreement. Management informs you that the ship will go to Muscat and return and they need the ship for a specific period of 180 days. Kindly suggest a right type of charter with proper reasoning for your selection.

3. You have exported 2 x 20 feet containers from Chennai to Singapore by sea. You have received an information from the shipping company that your both containers have been thrown into the sea along with some more exporters containers to save the ship from sinking. Your company shocked to know this and asked you to find out whether the shipping company can take such action and asked the following queries:

a. Is there any clause under which goods can be thrown into the sea by the captain of the ship

b. Who will compensate the loss of these two containers