Analysis of New Ideas from Dead Economists Essay

Todd G. Buchholz defines economics as the study of choice. Economists examine the consequences of the choices people make. The creation and evolution of economics over centuries came from the ideas of four economists: Adam Smith, Thomas Malthus, David Ricardo, John Stuart Mill, Karl Marx, Alfred Marshall and John Maynard Keynes. These well respected economists help the theory of economics grow and become what it is today. Economics started with the ideas of Adam Smith. He is credited as the first true economist. He had never taught nor took a class in economics. In his book The Wealth of Nations Smith alludes to the idea that self interest motives allows a nation to prosper entirely. People do something in order to gain something.†¦show more content†¦Smith advocated for free trade for a country. A country should export more than it imports. This stimulates the growth of the economy. Adam Smith was an optimist who sought the best for his country. On the other hand, Thomas Malthus had little hope for the future. He believed that the world’s population will increase faster than the production of food. The human race, he believed, would starve and there would be periods of chaos. Malthus said that the population increases at an exponential rate, nearly doubling amount. There is no way food growth would be able to catch up with population growth. Malthus’ solution was â€Å"War, Famine, and Plagues†. He believed that was the only way to decrease population and hopefully salvage the human race. These events would increase death rates liberating the world of disaster. Malthus tried to persuade lower classes form creating children and from marriage. At that time the lower classes were considered to be given higher wages, which would increase the makings of children and marriages. Thomas Malthus pleaded with everyone to make a change in order to decrease population. David Ricardo agreed with both the ideas of Malthus and Smith. Ricardo strongly argued for free trade. The idea of â€Å"cooperative advantage† emerged. The simply says that a nation should produce only the goods it best produces, rather than it producing every necessity. Then the nation will be able to buy the good that it needs for cheaper andShow MoreRelatedBook Report for Todd Buchholz’s â€Å"New Ideas from Dead Economists658 Words   |  3 PagesBook report for Todd Buchholz’s â€Å"New Ideas from Dead Economists This was a great read! Not only was it very informing on past and present economic thought, but it made economic issues seem exiting, ironic, and understandable. He connects economic principles with past and modern events like the fall of communism, global warming, overpopulation, and politics. Issues I didn’t even know existed were brought to life for me with his stories. I particularly enjoyed his chapter on the â€Å"doom and gloomers†Read MoreBusiness Strategy-Kfc Company Overview 11080 Words   |  5 PagesKentucky Fried Chicken by  Colonel  Harland Sanders  in 1952, though the idea of KFC s fried chicken actually goes back to 1930. The company adopted the abbreviated form of its name in 1991.[3]  Starting in April 2007, the company began using its original name, Kentucky Fried Chicken, for its signage, packaging and advertisements in the U.S. as part of a new corporate re-branding program;[4][5]  newer and remodeled restaurants will have the new logo and name while older stores will continue to use the 1980sRead MoreThe Keynesian Model Of Economics Essay897 Words   |  4 Pagesbrief explanation of how the Keynesian model of economics was applied to the economic crises of the 1970’s. Lastly, there will be an overview of how governments can create demand to correct market failure. Post government policies: AARA, DODD-FRANK- New Keynesian One post 1970 government policy was Passed by both the house and the Senate, the American Recovery and Reinvestment Act of 2009 (ARRA). The focus of this policy was to assist economic recovering, by offering assistance those who were mostRead MoreKeynes Theory of Income and Employment3130 Words   |  13 PagesEmployment:- The term ‘classical economists’ was firstly used by Karl Marx to describe economic thought of Ricardo and his predecessors including Adam Smith. However, by ‘classical economists’, Keynes meant the followers of David Ricardo including John Stuart Mill, Alfred Marshal and Pigou. According to Keynes, the term ‘classical economics’ refers to the traditional or orthodox principles of economics, which had come to be accepted, by and large, by the well known economists by then. Being the followerRead MoreThe Effects Of Increased Privatization Of Health Care On Africa As A Result Of Loan Conditionalities Imposed1583 Words   |  7 PagesThe World Bank (WB or Bank) has transformed from serving primarily to reconstruct post WWII Europe to the world’s largest external funder of health due to the globalization movement. To the global South, the Bank will primarily be known by its controversial Structural Adjustment Programs (SAPs). This essay wi ll examine the effects of increased privatization of health care in Africa as a result of loan conditionalities imposed by the Bank SAPs. Effects of SAPs on health and social determinants ofRead MoreInequality And Class Conflict : A Labor Theory Perspective3379 Words   |  14 PagesCollege of New Jersey November 19, 2014 Income inequality has reached a level of instability which has not been seen since the years leading up to the Great Depression. Income inequality refers to the difference of real income received by the varying socio-economic classes within an economy. There is no better example of this then the Great Depression in which greed sent twenty-five percent of the population into unemployment. Inequality.org defines income as â€Å"†¦the revenue streams from wagesRead MoreThe Death Of Horatio Alger1652 Words   |  7 Pageswhich is r g. This means the return on capital is higher than the economic growth. In The Death of Horatio Alger, Krugman explains the idea of income mobility in America is less reality now than it was in the 20th century. Also, it was believed to be more reality in the 20th century than it really was (Krugman). Income mobility means one s ability to go from one social economic class to another higher or lower class. The American dream seemed to be a reality as m ore and more people experiencedRead MoreWhy Aid Is Not Working And How There Is A Better Way For Africa Essay1834 Words   |  8 Pagesdeveloping countries. Over the past 50 years, more than $1 trillion development aid has been sent to Africa (xviii). In Dambisa Moyo’s book, Dead Aid: Why Aid is Not Working and How There is a Better Way For Africa, she claims that aid has only hindered Africa. Decreasing economic growth and producing an aid dependent country. In order for Africa to break away from this detrimental aid cycle, Moyo suggests a five to ten year solution where Africa is no longer given aid and is left to its own vices toRead MoreEssay about Adam Smith Father of Economics5633 Words   |  23 Pagescommonly cited as the father of modern economics. Smith studied moral philosophy at the University of Glasgow and Oxford University. After graduating, he delivered a successful series of public lectures at Edinburgh, leading him to collaborate with Economist, David Hume, during the Scottish Enlightenment. Smith obtained a professorship at Glasgow teaching moral philosophy. While teaching at Glasgow, Smith published The Theory of Moral Sentiments. In his later life, he took a tutoring position thatRead More Wall Street Essay2993 Words   |  12 Pagesowned America began to pour millions of Dollars into new plant and equipment as if there was no tomorrow. We don’t think much about it today, because it has been a long time since the United States has experienced a real bone jolting economic slowdown. The fact is, however, that the very best time for the industrialist to invest in new technologies is in the middle of a depression. This is because it is at such times that labor, raw materials, and new equipment can be purchase d at rock bottom prices

The Discovery Of Saudi Arabia - 1163 Words

I asked a friend of mine to come with me to visit the Asian Art Museum. I told him that the Museum is exhibiting pieces of recent archeological discoveries of Saudi Arabia. Since we were both Saudis, we felt curious to explore the museum for the first time. When we arrived to the museum, we paid 15 dollars each because we were adults. It was not until we finished our visit that we realized that we could have used our student identification cards to pay only 10 dollars each. However, we did not feel bad about it because we agreed that our visit was totally worth the price; if not, what we paid for the entrance was very little. Brief exploration of the Museum’s galleries: I was taking notes about my visit while exploring the content of the museum. The Asian Art Museum is exclusively exhibiting recent discoveries of Saudi Arabia, under the title of â€Å"Roads of Arabia.† The â€Å"Roads of Arabia† section is divided into four galleries. Each gallery contains objects that present a theme. For example, the first gallery, which takes place in the Ocher gallery, has the theme of â€Å"Prehistoric Arabia.† The gallery contains archeological objects and tools that date back to a million years ago. Some archeological discoveries such as tools and stones show the presence of prehistoric human settlements in today’s Saudi Arabia. The theme of the second gallery is â€Å" Incense Roads,† as it is held in the Hambrecht gallery. This gallery contains ancient objects that are associated with the incenseShow MoreRelatedSaudi Arabia And The Islamic World1648 Words   |  7 PagesWhen it comes to the Middle Eastern continent the mo st significant and popular country is known as Saudi Arabia. The fact following certain aspects and a shared history with Islamic religion makes it the most well known place in the world for Muslims as well as the entire Arab world. Saudi Arabia lies and covers most of the Arabian Peninsula, inclusive of the Red Sea. The first concrete evidence of human existence in the Arab world takes us back 15000 to 20000 years. Tribes of hunters and gatherersRead MoreThe Importance of Oil in Saudi Arabia Essay848 Words   |  4 Pagesalong with the ability to cut our supply in a moment’s notice. Therefore, the discovery of oil in Saudi Arabia caused a dramatic increase in the revenue of the country. Saudi Arabia’s newfound wealth was exploited to serve the political and economic needs of an opportunistic Islamic monarchy, while the concerns and rights of its subjects were consistently cast to the wayside. Through a global trade network, Saudi Arabia found great prosperity at the cost of sacrificing its founding principles. StabilityRead MoreThe Importance Of A Training Program For Women851 Words   |  4 PagesIntroduction In Saudi Arabia, there is a need to activate the participation the role of women in the development process in the community. The role of female in Saudi society is to be a good mother and a good wife. Women in any society like men, and they have the same right to work. Women are less than half of Saudi society, and the estimated proportion of women in Saudi society is about 45% of the population. They have not an important and active role in the renaissance of the community. EducationRead MoreSaudi Arabia And The Middle East Essay1579 Words   |  7 Pagesrelationship with Saudi Arabia is extremely important aspect in U.S. foreign policy in the Middle East. Saudi Arabia is a major power player within the Middle East due to its massive oil reserves and direct influence on Islam throughout the region. Various culture aspects of Saudi Arabia, its spread of Wahhabism and allegations of terrorist links has led to Saudi Arabia being under direct fire on the international stage. Scott Shane, author of the New York times article Saudi and Extremism: ‘BothRead MoreWomen s Education During The Middle East963 Words   |  4 Pages No area of Saudi society has been liable to a larger number of debates than the women and their role in the advancement process. Besides, women rights and obligations issues have been similarly controversial among both conservatives and progressives in Saudi society. Before tackling women education movement in Saudi Arabia, it is important to go over some of the social and political incidents that have shaped Saudi women position. In the previous 50 years the Middle East has faced some realRead MoreGlobalization And The Threat Of Cultural Imperialism1133 Words   |  5 PagesTelevision, Gender, and Authenticity in Saudi Arabia†. Kraidy examines how a culture strives to preserve their identity against the invading influences of Western culture. He argues that the controversy over the exposure to western influence may not only compromise cultural authenticity, but its popularity may prompt a redefinition of Saudi cultural authenticity. The popular reality show, Star Academy, is one example that addresses the negative effects of reality tv on Saudi Arabian politics and religionRead MoreSaudi Aramco : A Fully Integrated Global Enterprise1204 Words   |  5 PagesCompany: Saudi Aramco Headquarters: Saudi Aramco is headquartered in Dhahran, between the two cities Dammam and Al-Khobar in the Eastern province of Saudi Arabia on the coast of the Arabian Gulf. Number of Employees: Employs more than 61,000 employees worldwide from 77 countries. 2013 or 2014 Profit/Loss: Saudi Aramco is by far the biggest energy company in the world, generating more than $1 billion a day in revenues. Saudi Aramco s value has been estimated at anywhere between US$1.25 trillionRead MoreChallenges Market Analysis.. †¢The United States As Exporter1382 Words   |  6 PagesCHALLENGES MARKET ANALYSIS. †¢ The United States as exporter of oil. The United States has increased its oil production from 10 million to 15 million barrels per day between 2011 and 2015 surpassing both Saudi Arabia and Russia, and has perched at the list of the most productive oil countries (See figure.1) . This increase in the production of the United States due to the developments in techniques for extracting oil that called Hydraulic fracturing or fracking. Although the extraction of oilRead MoreOpec And The Price Of Oil873 Words   |  4 PagesOPEC and the price of oil The organization of the petroleum exporting countries or OPEC was created at Baghdad Conference in Iraq in September 1960. The founding members of organization were Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. These five states were later joined by nine other countries: Qatar (1961), Indonesia (1962), Libya (1962), United Arab Emirates (1967), Algeria (1969), Nigeria (1971), Ecuador (1973), Gabon (1975), and Angola (2007). Ecuador and Gabon withdrew from the organizationRead MoreDecision Making Skills For Arms Control And Trade1134 Words   |  5 PagesDecision making skills for arms control and trade cover the scientific discovery, ethical and philosophical decisions and politics. The scientific discovery (history) of arms trade has been around since the first crq eation of the cannon, but it has only been in the last century has the world seen an explosion in arms deals. The best way to categorize the history and politics of arms trade is during and after the Cold War, which be gan two years after World War II ended in 1945. During the Cold War

The Crafting of the Setting in a Text Is Crucial as It...

The crafting of the setting in a text is crucial as it provides a framework for the intended meaning of the composer. Explore the significance of setting in Blade Runner. Through the establishment of setting in Ridley Scotts Blade Runner (directors cut), a medium is provided by which the characters and message behind the text can develop by means of various cinematic techniques and diverse settings. Situated in the year 2019, Blade Runner is within the near future, no more than a generation for viewers in both our context, and the context in which it was released (originally 1892 then the directors cut released in 1992). In Blade Runner, the way in which characters engage with their setting acts as a representation of values and†¦show more content†¦She runs through deserted shop windows, a sign of urban degradation and abandonment. The effectiveness of the scene is established through the cutting between slow motion shots of Zhora and close up shots of Deckards face as he shoots the gun. This shooting directly involves the audience and embraces the viewers into the intimacy of the scene. The brutality of the killing is reflected within the s etting, it is gloomy, empty to suggest the absence of morals and values and filled with artificial lighting, evidence of consumerism. The non-digetic suspended jazz music builds on the feeling of life coming to an end. Through Zhora is the suspected Replicant, we see considerably more emotion expressed on her face as she runs from Deckard, than we do on Deckards face building a sense of empathy with the audience for Zhoras position. In conclusion, composers carefully craft particular settings in order to convey meaning and value. In Blade Runner, the setting is used as a warning, a warning that this is what the future could look like if we dont protect the environment around us. Through the use of various cinematic techniques Ridley Scotts interpretation of situations is represented in a way that connects with the audience on different levels both consciously and

The Casket Of Amontillado . Edgar Allan Poe’S “The Cask

The Casket of Amontillado Edgar Allan Poe’s â€Å"The Cask of Amontillado† is a short story illustrating how pride leads to the downfall of two men. At the story’s heart is the tale of Montresor, the protagonist, getting revenge on a former friend, Fortunato. Poe’s characterization of Montresor shows a sinister, proud man, obsessed not only with his revenge but also not getting punished himself. â€Å"It must be a perfect revenge, one in which Fortunato will know fully what is happening to him and in which Montresor will be forever undetected† (Morsberger 334). Poe’s portrayal of Montresor and his revenge depends mainly on his use of three artistic tools: a first-person narrative, dramatic irony, and symbolism. A brief examination of these three†¦show more content†¦At the carnival, when Montresor meets Fortunato and tells him about the amontillado, he states, â€Å"As you are engaged, I am on my way to Luchresi,† referring to Fortunato being inebriated. Fortunato insists that, â€Å"Luchresi cannot tell Amontillado from Sherry† (Poe 361). â€Å"Knowing his victim’s vanity, Montresor baits him by saying that some fools argue that Luchresi’s taste is as fine as Fortunato’s† (Morsberger 334). The use of the first-person narrative lets Poe change how readers view the characters. By telling the story through Montresor’s point of view, readers never get the chance to hear Fortunato’s side of the story, meaning one never discovers if Fortunato truly wronged Montresor. This prevents the reader from having sympathy for either character. Charles May says, â€Å"The reader has no way of knowing what these ‘thousand injuries’ and the mysterious insult are and thus can make no judgement about whether Montresor’s revenge is justifiable† (qtd. in Baraban para. 6). Third, and perhaps most importantly, the first-person point of view lets the rea der know ahead of time about Montresor’s plan for revenge, setting up the use of irony in the story. A second tool Poe used in â€Å"The Cask of Amontillado† is dramatic irony. Poe used irony multiple times in this story, largely due to using the first-person narrator. A â€Å"major plot dynamic of Poe’s great story† is â€Å"Montresor’s menacing irony, andShow MoreRelatedFor the Love of God, Poe! Essay1359 Words   |  6 PagesIt is not at all surprising that so many of Edgar Allan Poe’s works explore such themes as death, eyes, the power of the dead over the power of the living, retribution, the human conscience, and especially death and murder. From his disturbingly morbid short story â€Å"The Telltale Heart† to the mysteriously supernatural poem â€Å"The Raven†, Poe’s tales are a direct byproduct of the mayhem experienced in his life, as well as his (arguably) psychologically-tormented mind. Though all of this au thor’s piecesRead MoreEssay about Foreshadowing Fate in Cask Of Amontillado1508 Words   |  7 PagesForeshadowing the Fate in The Cask of Amontillado In Cask of Amontillado, Edgar Allan Poe presents a murderous tale of revenge revealed as the confession of a man who murdered another man over fifty years ago because of an insult. During a carnival festival, the murderer led his companion to the catacombs where he buried the man alive. The charter of Montresor lures his victim, Fortunato with the promise of a fine sherry, amontillado. As Poe’s character of Montresor guides the wine connoisseurRead MoreCask of Amontillado1545 Words   |  7 PagesForeshadowing the Fate in â€Å"The Cask of Amontillado† In â€Å"Cask of Amontillado,† Edgar Allan Poe presents a murderous tale of revenge revealed as the confession of a man who murdered another man over fifty years ago because of an â€Å"insult.† During a carnival festival, the murderer led his companion to the catacombs where he buried the man alive. The charter of Montresor lures his victim, Fortunato with the promise of a fine sherry, amontillado. As Poe’s character of Montresor guides the wine connoisseurRead MoreThe Cask Of Amontillado By Edgar Allan Poe1575 Words   |  7 Pages â€Å"The Cask of Amontillado.† Montresor plots and kills an unwary friend/foe during carnival time for motives that are unclear. The author of this tale, Edgar Allan Poe, influenced by his somewhat tragic life and one of the most influential Gothic writers, uses symbolism and irony to show the multitude of complicated motives of the narrator in his famous horror story. Upon examining Edgar Allan Poe’s life, one is not surprised that he chooses to write such gloomy and sinister stories. Poe’s life isRead MoreEdgar Allan Poe Is A Well Known American Author. His Pieces2020 Words   |  9 PagesEdgar Allan Poe is a well known American author. His pieces are remembered by their innovative and ground breaking plots and characters that left readers more disturbed than previous works of literature did. Poe is often called a pioneer when it comes to his stylistic pessimism and darkness. The people and hardships that filled Edgar Allan Poe’s life leave their mark on many of his greatest works such as â€Å"The Oblong Box†, â€Å"The Tell-Tale Heart†, â€Å"The Cask of Amontillado†, and The Narrative of ArthurRead MoreEdgar Allan Poe Was A Master Of The Literary Elements And1092 Words   |  5 PagesEdgar Allan Poe was a master of the literary elements and used them greatly in all of his works. In the story, â€Å" The Cask of Amontillado,† Poe uses these literary devices to really grab the audience and keep them wanting more. This skillful building of suspense is what makes this story so interesting and easy to keep reading. Poe drops small hints throughout the story in order to give the reader a little glimpse of how the story will come to an exciting end. With all of these elements coming togetherRead MoreThe Cask of Amontialldo1026 Words   |  5 PagesNever Have Too Much Pride The insult had been done, and Montresor was out for revenge on Fortunato. Not a soul but Montresor knew what the insult may have been, but this is what makes the short story â€Å"The Cask of Amontillado† by Edgar Allan Poe. The story is about a man, Montresor, who receives a wine that Fortunato, the wine expert, is looking for. During a carnival, Montresor persuades Fortunato to take him to his personal wine cellars, located in the catacombs. Fortunato became impaired, MontresorRead MoreExamples of Irony and Symbolism in The Cask of Amontillado1334 Words   |  6 Pagesarm, there is nothing great in breaking an arm. In the short story â€Å"The Cask of Amontillado† Montresor who has been so humiliated by Fortunato that the only way Montresor can be satisfied is with revenge. So Montresor decides that Fortunato is going to get the worst punishment ever. Therefore the night of the Carnival Montresor invites Fortunato to this palazzo. He tells him that he needs help with an Amontillado (sherry wine) because he has doubts about it. Montresor decides to tease FortunatoRead MoreGothic Literature : The Dark Side Of Romanticism1518 Words   |  7 PagesGothic literature is the dark side of Romanticism. The theme of Gothic stories is either mysterious, horror, or even death. Nathaniel Hawthorne and Edgar Allan Poe are authors that demonstrate Gothic literature. Some of their work include, â€Å"The Cask of Amontillado† written by Edgar Allan Poe and â€Å"The Birthmark† by Nathaniel Hawthorne. The Cask of Amontillado tells how the narrator Montresor seeks revenge on his acqu aintance, Fortunato. Montresor to desperate measures and did not catch. However, in â€Å"TheRead MoreSituational Irony The Cask Of Amontillado Essay1034 Words   |  5 Pagesâ€Å"The Cask of Amontillado† is a unique story in many ways. There are many literary elements present throughout this story. One of these literary elements is irony. Irony can influence the portrayal of a character in a story. Irony can also add intrigue and excitement to the plot of the story. In Edgar Allen Poe’s story, he uses the literary element of irony to add to the plot and influence how the characters are portrayed throughout his story. One of the first examples of irony Poe utilizes in his

Business Operations Internal Controls

Question: Discuss about the Business Operations for Internal Controls. Answer: Introduction: The unauthorised use of purchasing systems could result in serious loss each year due to overspending on unnecessary resources. In addition, the misappropriation of products or services is another impact, which be used for personal benefits (Dumas et al., 2013). Therefore, the fairness of the purchase reports and invoices could not be maintained, which, in turn, would reduce the profitability of the organisation. In addition, the ineffective plans of supply chain management and project management lack in mechanism, which has lead to maverick spending. Thus, it clearly depicts the lack of completeness on the part of Fruito in managing its expenditure cycle. Acceptance of short delivery of products or services: Since the issue is concerned with the ordering and receiving portions of the expenditure cycle of Fruito, there is high chance that the inventory manager might place excess order of goods despite the available stock. The main reason identified behind such act is the outcome of collusion (Hull, 2012). Along with this, the receipts might not be confirmed for the goods purchased. As a result, the accounting manager of Fruito might not be able to pass the necessary transactions for such receipts, which would significantly affect the preparation of the financial statements. Hence, the accuracy in developing the accounting reports would be minimised. Acceptance of expanded orders or unsolicited goods: This is another major risk, as the inventory manager might adopt dodgy measures in accepting unsolicited products or expanded orders. The probable reason behind such risk is the monetary benefit of the individuals or gifts from the suppliers (Lam, 2014).Such act might increase the overall cost of sales for manufacturing its products. Moreover, the profit realisation would be abridged, as there is overspending on inventory. Thus, it violates the validity of the existing internal controls of Fruito in managing its purchases and orders. Recommendation of internal controls and application of the same to mitigate the identified risks: The following internal controls would be feasible for Fruito to mitigate the above-identified risks: Application of purchase order forms with sequential numbers: Fruito could apply purchase order forms, which are sequentially numbered, for conducting independent checks. This would help in ascertaining the validity and completeness of the purchase orders made (Lefcourt, 2013).The authorised signatories need to be identified with the limits of authorisation. Therefore, before providing the certification for a particular invoice, the authorisation and matching with the original order need to be conducted. The use of electronic inventory management system needs to be adopted to maintain up-to-date stock records and monitor orders and stock usage (McNeil, Frey Embrechts, 2015). The segregation of duties between receiving, ordering, approving and paying invoices is necessary, as it would help the supervisor of the Accounts Payable department of Fruito to monitor the work. Along with this, the supervisor of the above-mentioned department needs to ensure that the authorised staffs make necessary adjustments to the standing data like invoices of suppliers. Furthermore, the invoice coding is required to be checked to assure that the accurate budget has been debited (Sadgrove, 2016). Finally, the budget holders would match the expense items charged with the budgets. Henceforth, this internal control procedure would help in limiting the unauthorised access to the purchase system. As a result, it would conform to the completeness of the expenditure cycle of Fruito. Checking stock records and confirming receipts: It is the responsibility of the supervisor of Accounts Payable department of Fruito to verify the stock records to ensure that the deliveries have been accounted for in an effective manner. This would minimise the additional orders of products beyond the required level to save costs (Skaife, Veenman Wangerin, 2013). Moreover, the supervisor is required to ensure that no payments for goods are made without the confirmation of receipts. Such step would help the accounting manager of Fruito to keep a detailed record of the overall transactions, which would depict the accurate presentation of the financial statements of the organisation. Thus, this internal control process would wipe out the acceptance of short delivery of goods. Payment after confirmation of goods: In order to minimise the acceptance of spontaneous goods or expanded orders, the payments need to be made only after the confirmation that the goods have been ordered properly with necessary authorisation. Such step would reduce the acceptance of gifts or monetary benefits for the individuals involved in adopting unethical measures (Zikmund et al., 2013).As a result, it would help in saving excess costs on purchase orders, which would contribute to the validity of the expenditure cycle of Fruito. Summary of findings for the CFO: After careful examination of the current ordering and receiving part of the expenditure cycle of the organisation, it has been found that the major risks that confront the business operations include unauthorised access to purchase systems, acceptance of short delivery of goods and expanded orders. The first risk could incur huge losses for the organisation due to overspending on inventory. The second risk identified would lead to inaccuracy in recording transactions due to the absence of receipts. The final risk might reduce the profit recognition of the business due to adoption of unethical practices on the part of some personnel. Therefore, all these risks together would minimise the overall productivity and profitability of Fruito. However, the effective internal controls have been identified to eliminate each of the above-identified risks for ensuring the operational efficiency of the organisation. In order to eliminate the first risk, the purchase order forms could be sequentially numbered to maintain the daily stock records and usage. The second risk could be eliminated with the help of checking stock records, which would help in preparing accurate accounting reports. The final risk could be eradicated by making payments after receiving receipts to prevent the unethical practices. References: Dumas, M., La Rosa, M., Mendling, J., Reijers, H. A. (2013).Fundamentals of business process management(Vol. 1, p. 2). Heidelberg: Springer. Hull, J. (2012).Risk Management and Financial Institutions,+ Web Site(Vol. 733). John Wiley Sons. Lam, J. (2014).Enterprise risk management: from incentives to controls. John Wiley Sons. Lefcourt, H. M. (Ed.). (2013).Research with the locus of control construct: extensions and limitations. Elsevier. McNeil, A. J., Frey, R., Embrechts, P. (2015).Quantitative risk management: Concepts, techniques and tools. Princeton university press. Sadgrove, K. (2016).The complete guide to business risk management. Routledge. Skaife, H. A., Veenman, D., Wangerin, D. (2013). Internal control over financial reporting and managerial rent extraction: Evidence from the profitability of insider trading.Journal of Accounting and Economics,55(1), 91-110. Zikmund, W. G., Babin, B. J., Carr, J. C., Griffin, M. (2013).Business research methods. Cengage Learning.

Rotterdam Rules free essay sample

United Nations Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea UNITED NATIONS UNITED NATIONS COMMISSION ON INTERNATIONAL TRADE LAW United Nations Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea UNITED NATIONS Vienna, 2009 UNITED NATIONS PUBLICATION Sales No. E. 09. V. 9 ISBN 978-92-1-133672-6 Contents Resolution adopted by the General Assembly . . . . . . . . . . . . . . . . . . . . . . . . . . . . . United Nations Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Chapter 1 . General provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 1 . Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 2 . Interpretation of this Convention . . . . . . . . . . . . . . . . . . . Article 3 . Form requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 4 . Applicability of defences and limits of liability . . . . . . . Chapter 2 . Scope of application . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 5 . General scope of application . . . . . . . . . . . . . . . . . . . . . . Article 6 . Specific exclusions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 7 . Application to certain parties . . . . . . . . . . . . . . . . . . . . . . Chapter 3 . Electronic transport records . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 8 . Use and effect of electronic transport records . . . . . . . . . Article 9 . Procedures for use of negotiable electronic transport records . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 10 . Replacement of negotiable transport document or negotiable electronic transport record . . . . . . . . . . . . . . . Chapter 4 . Obligations of the carrier . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 11 . Article 12 . Article 13 . Article 14 . Article 15 . Article 16 . Carriage and delivery of the goods . . . . . . . . . . . . . . . . Period of responsibility of the carrier . . . . . . . . . . . . . Specific obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . Specific obligations applicable to the voyage by sea . . . Goods that may become a danger . . . . . . . . . . . . . . . . . Sacrifice of the goods during the voyage by sea . . . . . . 1 4 5 5 8 8 9 9 9 10 10 10 10 11 11 12 12 12 13 13 13 14 iii Chapter 5 . Liability of the carrier for loss, damage or delay . . . . . . . . . . . . . . . . Article 17 . Article 18 . Article 19 . Article 20 . Article 21 . Article 22 . Article 23 . Basis of liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Liability of the carrier for other persons . . . . . . . . . . . . Liability of maritime performing parties . . . . . . . . . . . . J oint and several liability . . . . . . . . . . . . . . . . . . . . . . . . Delay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Calculation of compensation . . . . . . . . . . . . . . . . . . . . . Notice in case of loss, damage or delay . . . . . . . . . . . . 14 14 16 16 17 17 17 18 19 19 19 20 20 20 21 21 21 22 22 23 23 23 23 24 25 25 26 26 Chapter 6 . Additional provisions relating to particular stages of carriage . . . . . . Article 24 . Article 25 . Article 26 . Deviation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Deck cargo on ships . . . . . . . . . . . . . . . . . . . . . . . . . . . . Carriage preceding or subsequent to sea carriage . . . . . Chapter 7 . Obligations of the shipper to the carrier . . . . . . . . . . . . . . . . . . . . . . . Article 27 . Article 28 . Article 29 . Article 30 . Article 31 . Article 32 . Article 33 . Article 34 . Delivery for carriage . . . . . . . . . . . . . . . . . . . . . . . . . . Cooperation of the shipper and the carrier in providing information and instructions . . . . . . . . . . . . . . . . . . . . . Shipper’s obligation to provide information, instructions and documents . . . . . . . . . . . . . . . . . . . . . . Basis of shipper’s liability to the carrier . . . . . . . . . . . . Information for compilation of contract particulars . . . Speci al rules on dangerous goods . . . . . . . . . . . . . . . . . Assumption of shipper’s rights and obligations by the documentary shipper . . . . . . . . . . . . . . . . . . . . . . . Liability of the shipper for other persons . . . . . . . . . . . Chapter 8 . Transport documents and electronic transport records . . . . . . . . . . . . Article 35 . Article 36 . Article 37 . Article 38 . Article 39 . Article 40 . Issuance of the transport document or the electronic transport record . . . . . . . . . . . . . . . . . . . . Contract particulars . . . . . . . . . . . . . . . . . . . . . . . . . . . . Identity of the carrier . . . . . . . . . . . . . . . . . . . . . . . . . . . Signature . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Deficiencies in the contract particulars . . . . . . . . . . . . . Qualifying the information relating to the goods in the contract particulars . . . . . . . . . . . . . . . . . . . . . . . iv Article 41 . Article 42 . Chapter 9 . Evidentiary effect of the contract particulars . . . . . . . . â€Å"Freight prepaid† . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 28 28 28 29 29 30 30 32 33 34 34 34 35 36 36 37 37 37 37 38 38 38 39 39 Delivery of the goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 43 . Article 44 . Article 45 . Article 46 . Article 47 . Article 48 . Article 49 . Obligation to accept delivery . . . . . . . . . . . . . . . . . . . . . Obligation to acknowledge receipt . . . . . . . . . . . . . . . . Delivery when no negotiable transport document or negotiable electronic transport record is issued . . . . . . . Delivery when a non-negotiable transport document that requires surrender is issued . . . . . . . . . . . . . . . . . . Delivery when a negotiable transport document or negotiable electronic transport record is issued . . . . . . . Goods remaining undelivered . . . . . . . . . . . . . . . . . . . Retention of goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Chapter 10 . Rights of the controlling party . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 50 . Article 51 . Article 52 . Article 53 . Article 54 . Article 55 . Article 56 . Exercise and extent of right of control . . . . . . . . . . . . . Identity of the controlling part y and transfer of the right of control . . . . . . . . . . . . . . . . . . . . Carrier’s execution of instructions . . . . . . . . . . . . . . . . . Deemed delivery . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Variations to the contract of carriage . . . . . . . . . . . . . . . Providing additional information, instructions or documents to carrier . . . . . . . . . . . . . . . . . . . . . . . . . . . Variation by agreement . . . . . . . . . . . . . . . . . . . . . . . . . Chapter 11 . Transfer of rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 57 . Article 58 . When a negotiable transport document or negotiable electronic transport record is issued . . . . . . . Liability of holder . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Chapter 12 . Limits of liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 59 . Article 60 . Article 61 . Limits of liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Limits of liability for loss caused by delay . . . . . . . . . . Loss of the benefit of limitation of liability . . . . . . . . . . v Chapter 13 . Time for suit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 62 . Article 63 . Article 64 . Article 65 . Period of time for suit . . . . . . . . . . . . . . . . . . . . . . . . . . Extension of time for suit . . . . . . . . . . . . . . . . . . . . . . . Action for indemnity . . . . . . . . . . . . . . . . . . . . . . . . . . . Actions against the person identified as the carrier . . . . 40 40 40 41 41 41 41 42 42 43 43 43 44 44 44 44 44 46 46 46 46 46 47 48 49 49 49 49 50 50 Chapter 14 . J urisdiction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 66 . Article 67 . Article 68 . Article 69 . Article 70 . Article 71 . Article 72 . Article 73 . Article 74 . Actions against the carrier . . . . . . . . . . . . . . . . . . . . . . . Choice of court agreements . . . . . . . . . . . . . . . . . . . . . . Actions against the maritime performing party . . . . . . . No additional bases of jurisdiction . . . . . . . . . . . . . . . . Arrest and provisional or protective measures . . . . . . . Consolidation and removal of actions . . . . . . . . . . . . . . Agreement after a dispute has arisen and jurisdiction when the defendant has entered an appearance . . . . . . Recognition and enforcement . . . . . . . . . . . . . . . . . . . . Application of chapter 14 . . . . . . . . . . . . . . . . . . . . . . . Chapter 15 . Arbitration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 75 . Article 76 . Article 77 . Article 78 . Arbitration agreements . . . . . . . . . . . . . . . . . . . . . . . . . Arbitration agre ement in non-liner transportation . . . . . Agreement to arbitrate after a dispute has arisen . . . . . Application of chapter 15 . . . . . . . . . . . . . . . . . . . . . . Chapter 16 . Validity of contractual terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 79 . Article 80 . Article 81 . General provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Special rules for volume contracts . . . . . . . . . . . . . . . . . Special rules for live animals and certain other goods . Chapter 17 . Matters not governed by this Convention . . . . . . . . . . . . . . . . . . . . . . Article 82 . Article 83 . Article 84 . Article 85 . Article 86 . International conventions governing the carriage of goods by other modes of transport . . . . . . . . . . . . . . . . Global limitation of liability . . . . . . . . . . . . . . . . . . . . . General average . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Passengers and luggage . . . . . . . . . . . . . . . . . . . . . . . . . Damage caused by nuclear incident . . . . . . . . . . . . . . . vi Chapter 18 . Final clauses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 87 . Article 88 . Article 89 . Article 90 . Article 91 . Article 92 . Article 93 . Article 94 . Article 95 . Article 96 . Depositary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Signature, ratification, acceptance, approval or accession . . . . . . . . . . . . . . . . . . . . . . . . . . . Denunciation of other conventions . . . . . . . . . . . . . . . . Reservations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Procedure and effect of declarations . . . . . . . . . . . . . . . Effect in domestic territorial units . . . . . . . . . . . . . . . . Participation by regional economic integration organizations . . . . . . . . . . . . . . . . . . . . . . . . Entry into force . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Revision and amendment . . . . . . . . . . . . . . . . . . . . . . . . Denunciation of this Convention . . . . . . . . . . . . . . . . . . 50 50 50 51 52 52 52 53 53 54 54 vii Resolution adopted by the General Assembly 63/122. Un ited Nations Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea The General Assembly, Recalling its resolution 2205 (XXI) of 17 December 1966, by which it established the United Nations Commission on International Trade Law with a mandate to further the progressive harmonization and unification of the law of international trade and in that respect to bear in mind the interests of all peoples, in particular those of developing countries, in the extensive development of international trade, Concerned that the current legal regime governing the international carriage of goods by sea lacks uniformity and fails to adequately take into account modern transport practices, including containerization, door-to-door transport contracts and the use of electronic transport documents, Noting that the development of international trade on the basis of equality and mutual benefit is an important element in promoting friendly relations among States, Convinced that the adoption of uniform rules to modernize and harmonize the rules that govern the international car riage of goods involving a sea leg would enhance legal certainty, improve efficiency and commercial predictability in the international carriage of goods and reduce legal obstacles to the flow of international trade among all States, Believing that the adoption of uniform rules to govern international contracts of carriage wholly or partly by sea will promote legal certainty, improve the efficiency of international carriage of goods and facilitate new access opportunities for previously remote parties and markets, thus playing a fundamental role in promoting trade and economic development, both domestically and internationally, Noting that shippers and carriers do not have the benefit of a binding and balanced universal regime to support the operation of contracts of carriage involving various modes of transport, 1 Recalling that, at its thirty-fourth and thirty-fifth sessions, in 2001 and 2002, the Commission decided to prepare an international legislative instrument governing door -to-door transport operations that involve a sea leg,1 Recognizing that all States and interested international organizations were invited to participate in the preparation of the draft Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea and in the fortyfirst session of the Commission, either as members or as observers, with a full opportunity to speak and make proposals, Noting with atisfaction that the text of the draft Convention was circulated for comment to all States Members of the United Nations and intergovernmental organizations invited to attend the meetings of the Commission as observers, and that the comments received were before the Commission at its forty-first session,2 Taking note with satisfaction of the decision of the Commission at its forty-first session to submit the draft Convention to the General Assembly for its consideration,3 Taking note of the draft Convention approved by the Commission,4 Expressing its appreciation to t he Government of the Netherlands for its offer to host a signing ceremony for the Convention in Rotterdam, 1 . Commends the United Nations Commission on International Trade Law for preparing the draft Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea; 2 . Adopts the United Nations Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea, contained in the annex to the present resolution; 1 Official Records of the General Assembly, Fifty-sixth Session, Supplement No. 17 and corrigendum (A/56/17 and Corr . 3), paras . 319–345; and ibid . , Fifty-seventh Session, Supplement No. 17 (A/57/17), paras . 210–224 . 2 A/CN . 9/658 and Add . –14 and Add . 14/Corr . 1 . 3 Official Records of the General Assembly, Sixty-third Session, Supplement No. 17 and corrigendum (A/63/17 and Corr . 1), para . 298 . 4 Ibid . , annex I . 2 3 . Authorizes a ceremony for the opening for signature to be held on 23 September 2009 in Rotterdam, the Netherlands, and recommends that the rules embodied in the Convention be known as the â€Å"Rotterdam Rules†; 4 . Calls upon all Governments to consider becoming party to the Convention . 67th plenary meeting 11 December 2008 3 UNITED NATIONS CONVENTION ON CONTRACTS FOR THE INTERNATIONAL CARRIAGE OF GOODS WHOLLY OR PARTLY BY SEA The States Parties to this Convention, Reaffirming their belief that international trade on the basis of equality and mutual benefit is an important element in promoting friendly relations among States, Convinced that the progressive harmonization and unification of international trade law, in reducing or removing legal obstacles to the flow of international trade, significantly contributes to universal economic cooperation among all States on a basis of equality, equity and common interest, and to the well-being of all peoples, Recognizing the significant contribution of the International Convention for the Unification of Certain Rules of Law relating to Bills of Lading, signed in Brussels on 25 August 1924, and its Protocols, and of the United Nations Convention on the Carriage of Goods by Sea, signed in Hamburg on 31 March 1978, to the harmonization of the law governing the carriage of goods by sea, Mindful of the technological and commercial developments that have taken place since the adoption of those conventions an d of the need to consolidate and modernize them, Noting that shippers and carriers do not have the benefit of a binding universal regime to support the operation of contracts of maritime carriage involving other modes of transport, Believing that the adoption of uniform rules to govern international contracts of carriage wholly or partly by sea will promote legal certainty, improve the efficiency of international carriage of goods and facilitate new access opportunities for previously remote parties and markets, thus playing a fundamental role in promoting trade and economic development, both domestically and internationally, Have agreed as follows: 4 Chapter 1 General provisions Article 1 Definitions For the purposes of this Convention: 1 . â€Å"Contract of carriage† means a contract in which a carrier, against the payment of freight, undertakes to carry goods from one place to another . The contract shall provide for carriage by sea and may provide for carriage by other mo des of transport in addition to the sea carriage . 2 . â€Å"Volume contract† means a contract of carriage that provides for the carriage of a specified quantity of goods in a series of shipments during an agreed period of time . The specification of the quantity may include a minimum, a maximum or a certain range . 3 . Liner transportation† means a transportation service that is offered to the public through publication or similar means and includes transportation by ships operating on a regular schedule between specified ports in accordance with publicly available timetables of sailing dates . 4 . â€Å"Non-liner transportation† means any transportation that is not liner transportation . 5 . â€Å"Carrier† means a person that enters into a contract of carriage with a shipper . 6 . (a) â€Å"Performing party† means a person other than the carrier that performs or undertakes to perform any of the carrier’s obligations under a contract of carr iage with respect to the receipt, loading, handling, stowage, carriage, care, unloading or delivery of the goods, to the extent that such person acts, either directly or indirectly, at the carrier’s request or under the carrier’s supervision or control . b) â€Å"Performing party† does not include any person that is retained, directly or indirectly, by a shipper, by a documentary shipper, by the controlling party or by the consignee instead of by the carrier . 5 7 . â€Å"Maritime performing party† means a performing party to the extent that it performs or undertakes to perform any of the carrier’s obligations during the period between the arrival of the goods at the port of loading of a ship and their departure from the port of discharge of a ship . An inland carrier is a maritime performing party only if it performs or undertakes to perform its services exclusively within a port area . 8 . â€Å"Shipper† means a person that enters into a c ontract of carriage with a carrier . 9 . Documentary shipper† means a person, other than the shipper, that accepts to be named as â€Å"shipper† in the transport document or electronic transport record . 10 . â€Å"Holder† means: (a) A person that is in possession of a negotiable transport document; and (i) if the document is an order document, is identified in it as the shipper or the consignee, or is the person to which the document is duly endorsed; or (ii) if the document is a blank endorsed order document or bearer document, is the bearer thereof; or (b) The person to which a negotiable electronic transport record has been issued or transferred in accordance with the procedures referred to in article 9, paragraph 1 . 11 . Consignee† means a person entitled to delivery of the goods under a contract of carriage or a transport document or electronic transport record . 12 . â€Å"Right of control† of the goods means the right under the contract of c arriage to give the carrier instructions in respect of the goods in accordance with chapter 10 . 13 . â€Å"Controlling party† means the person that pursuant to article 51 is entitled to exercise the right of control . 14 . â€Å"Transport document† means a document issued under a contract of carriage by the carrier that: (a) Evidences the carrier’s or a performing party’s receipt of goods under a contract of carriage; and (b) Evidences or contains a contract of carriage . 15 . Negotiable transport document† means a transport document that indicates, by wording such as â€Å"to order† or â€Å"negotiable† or other appropriate 6 wording recognized as having the same effect by the law applicable to the document, that the goods have been consigned to the order of the shipper, to the order of the consignee, or to bearer, and is not explicitly stated as being â€Å"nonnegotiable† or â€Å"not negotiable† . 16 . â€Å"Non-nego tiable transport document† means a transport document that is not a negotiable transport document . 17 . â€Å"Electronic communication† means information generated, sent, received or stored by electronic, optical, digital or similar means with the result that the information communicated is accessible so as to be usable for subsequent reference . 18 . Electronic transport record† means information in one or more messages issued by electronic communication under a contract of carriage by a carrier, including information logically associated with the electronic transport record by attachments or otherwise linked to the electronic transport record contemporaneously with or subsequent to its issue by the carrier, so as to become part of the electronic transport record, that: (a) Evidences the carrier’s or a performing party’s receipt of goods under a contract of carriage; and (b) Evidences or contains a contract of carriage . 19 . â€Å"Negotiable elec tronic transport record† means an electronic transport record: (a) That indicates, by wording such as â€Å"to order†, or â€Å"negotiable†, or other appropriate wording recognized as having the same effect by the law applicable to the record, that the goods have been consigned to the order of the shipper or to the order of the consignee, and is not explicitly stated as being â€Å"non-negotiable† or â€Å"not negotiable†; and (b) The use of which meets the requirements of article 9, paragraph 1 . 20 . Non-negotiable electronic transport record† means an electronic transport record that is not a negotiable electronic transport record . 21 . The â€Å"issuance† of a negotiable electronic transport record means the issuance of the record in accordance with procedures that ensure that the record is subject to exclusive control from its creation until it ceases to have any effect or validity . 22 . The â€Å"transfer† of a negotiable electronic transport record means the transfer of exclusive control over the record . 7 23 . â€Å"Contract particulars† means any information relating to the contract of carriage or to the goods (including terms, notations, signatures and endorsements) that is in a transport document or an electronic transport record . 24 . Goods† means the wares, merchandise, and articles of every kind whatsoever that a carrier undertakes to carry under a contract of carriage and includes the packing and any equipment and container not supplied by or on behalf of the carrier . 25 . â€Å"Ship† means any vessel used to carry goods by sea . 26 . â€Å"Container† means any type of container, transportable tank or flat, swapbody, or any similar unit load used to consolidate goods, and any equipment ancillary to such unit load . 27 . â€Å"Vehicle† means a road or railroad cargo vehicle . 28 . â€Å"Freight† means the remuneration payable to the carrier for the carriage of goods under a contract of carriage . 29 . Domicile† means (a) a place where a company or other legal person or association of natural or legal persons has its (i) statutory seat or place of incorporation or central registered office, whichever is applicable, (ii) central administration or (iii) principal place of business, and (b) the habitual residence of a natural person . 30 . â€Å"Competent court† means a court in a Contracting State that, according to the rules on the internal allocation of jurisdiction among the courts of that State, may exercise jurisdiction over the dispute . Article 2 Interpretation of this Convention In the interpretation of this Convention, regard is to be had to its international character and to the need to promote uniformity in its application and the observance of good faith in international trade . Article 3 Form requirements The notices, confirmation, consent, agreement, declaration and other communications referred to in articles 19, paragraph 2; 23, paragraphs 1 to 4; 36, subparagraphs 1 (b), (c) and (d); 40, subparagraph 4 (b); 44; 48, paragraph 3; 51, subparagraph 1 (b); 59, paragraph 1; 63; 66; 67, paragraph 2; 75, paragraph 4; and 80, paragraphs 2 and 5, shall be in writing . Electronic communications 8 may be used for these purposes, provided that the use of such means is with the consent of the person by which it is communicated and of the person to which it is communicated . Article 4 Applicability of defences and limits of liability 1 . Any provision of this Convention that may provide a defence for, or limit the liability of, the carrier applies in any judicial or arbitral proceeding, whether founded in contract, in tort, or otherwise, that is instituted in respect of loss of, damage to, or delay in delivery of goods covered by a contract of carriage or for the breach of any other obligation under this Convention against: (a) The carrier or a maritime performing party; (b) The master, crew or any other person that performs services on board the ship; or (c) Employees of the carrier or a maritime performing party . 2 . Any provision of this Convention that may provide a defence for the shipper or the documentary shipper applies in any judicial or arbitral proceeding, whether founded in contract, in tort, or otherwise, that is instituted against the shipper, the documentary shipper, or their subcontractors, agents or employees . Chapter 2 Scope of application Article 5 General scope of application 1 . Subject to arti cle 6, this Convention applies to contracts of carriage in hich the place of receipt and the place of delivery are in different States, and the port of loading of a sea carriage and the port of discharge of the same sea carriage are in different States, if, according to the contract of carriage, any one of the following places is located in a Contracting State: (a) (b) (c) (d) The place of receipt; The port of loading; The place of delivery; or The port of discharge . 9 2 . This Convention applies without regard to the nationality of the vessel, the carrier, the performing parties, the shipper, the consignee, or any other interested parties . Article 6 Specific exclusions 1 . This Convention does not apply to the following contracts in liner transportation: (a) (b) Charter parties; and Other contracts for the use of a ship or of any space thereon . 2 . This Convention does not apply to contracts of carriage in non-liner transportation except when: (a) There is no charter party or other contract between the parties for the use of a ship or of any space thereon; and (b) A transport document or an electronic transport record is issued . Article 7 Application to certain parties Notwithstanding article 6, this Convention applies as between the carrier and the consignee, controlling party or holder that is not an original party to the charter party or other contract of carriage excluded from the application of this Convention . However, this Convention does not apply as between the original parties to a contract of carriage excluded pursuant to article 6 . Chapter 3 Electronic transport records Article 8 Use and effect of electronic transport records Subject to the requirements set out in this Convention: (a) Anything that is to be in or on a transport document under this Convention may be recorded in an electronic transport record, provided the issuance and subsequent use of an electronic transport record is with the consent of the carrier and the shipper; and 10 (b) The issuance, exclusive control, or transfer of an electronic transport record has the same effect as the issuance, possession, or transfer of a transport document . Article 9 Procedures for use of negotiable electronic transport records 1 . The use of a negotiable electronic transport record shall be subject to procedures that provide for: (a) The method for the issuance and the transfer of that record to an intended holder; (b) An assurance that the negotiable electronic transport record retains its integrity; (c) The manner in which the holder is able to demonstrate that it is the holder; and (d) The manner of providing confirmation that delivery to the holder has been effected, or that, pursuant to articles 10, paragraph 2, or 47, subparagraphs 1 (a) (ii) and (c), the electronic transport record has ceased to have any effect or validity . 2 . The procedures in paragraph 1 of this article shall be referred to in the contract particulars and be readily ascertainable . Article 10 Replacement of negotiable transport document or negotiable electronic transport record 1 . If a negotiable transport document has been issued and the carrier and the holder agree to replace that document by a negotiable electronic transport record: (a) The holder shall surrender the negotiable transport document, or all of them if more than one has been issued, to the carrier; (b) The carrier shall issue to the holder a negotiable electronic transport record that includes a statement that it replaces the negotiable transport document; and (c) The negotiable transport document ceases thereafter to have any effect or validity . 11 2 . If a negotiable electronic transport record has been issued and the carrier and the holder agree to replace that electronic transport record by a negotiable transport document: (a) The carrier shall issue to the holder, in place of the electronic transport record, a negotiable transport document that includes a statement that it replaces the negotiable electronic transport record; and (b) The electronic transport record ceases thereafter to have any effect or validity . Chapter 4 Obligations of the carrier Article 11 Carriage and delivery of the goods The carrier shall, subject to this Convention and in accordance with the terms of the contract of carriage, carry the goods to the place of destination and deliver them to the consignee . Article 12 Period of responsibility of the carrier 1 . The period of responsibility of the carrier for the goods under this Convention begins when the carrier or a performing party receives the goods for carriage and ends when the goods are delivered . 2 . a) If the law or regulations of the place of receipt require the goods to be handed over to an authority or other third party from which the carrier may collect them, the period of responsibility of the carrier begins when the carrier collects the goods from the authority or other third party . (b) If the law or regulations of the place of delivery require the carrier to hand over the goods to an authority or other third party from which the consignee may collect them, the period of responsibility of the carrier ends when the carrier hands the goods over to the authority or other third party . 3 . For the purpose of determining the carrier’s period of responsibility, the parties may agree on the time and location of receipt and delivery of the goods, but a provision in a contract of carriage is void to the extent that it provides that: 12 a) The time of receipt of the goods is subsequent to the beginning of their initial loading under the contract of carriage; or (b) The time of delivery of the goods is prior to the completion of their final unloading under the contract of carriage . Article 13 Specific obligations 1 . The carrier shall during the period of its responsibility as defined in article 12, and subject to article 26, properly and carefully receive, load, handle, stow, carry, keep, care for, unload and deliver the goods . 2 . Notwithstanding paragraph 1 of this article, and without prejudice to the other provisions in chapter 4 and to chapters 5 to 7, the carrier and the shipper may agree that the loading, handling, stowing or unloading of the goods is to be performed by the shipper, the documentary shipper or the consignee . Such an agreement shall be referred to in the contract particulars . Article 14 Specific obligations applicable to the voyage by sea The carrier is bound before, at the beginning of, and during the voyage by sea to exercise due diligence to: (a) Make and keep the ship seaworthy; (b) Properly crew, equip and supply the ship and keep the ship so crewed, equipped and supplied throughout the voyage; and (c) Make and keep the holds and all other parts of the ship in which the goods are carried, and any containers supplied by the carrier in or upon which the goods are carried, fit and safe for their reception, carriage and preservation . Article 15 Goods that may become a danger Notwithstanding articles 11 and 13, the carrier or a performing party may decline to receive or to load, and may take such other measures as are reasonable, including unloading, destroying, or rendering goods harmless, if the goods are, or reasonably appear likely to become during the carrier’s period of responsibility, an actual danger to persons, property or the environment . 13 Article 16 Sacrifice of the goods during the voyage by sea Notwithstanding articles 11, 13, and 14, the carrier or a performing party may sacrifice goods at sea when the sacrifice is reasonably made for the common safety or for the purpose of preserving from peril human life or other property involved in the common adventure . Chapter 5 Liability of the carrier for loss, damage or delay Article 17 Basis of liability 1 . The carrier is liable for loss of or damage to the goods, as well as for delay in delivery, if the claimant proves that the loss, damage, or delay, or the event or circumstance that caused or contributed to it took place during the period of the carrier’s responsibility as defined in chapter 4 . 2 . The carrier is relieved of all or part of its liability pursuant to paragraph 1 of this article if it proves that the cause or one of the causes of the loss, damage, or delay is not attributable to its fault or to the fault of any person referred to in article 18 . 3 . The carrier is also relieved of all or part of its liability pursuant to paragraph 1 of this article if, alternatively to proving the absence of fault as provided in paragraph 2 of this article, it proves that one or more of the following events or circumstances caused or contributed to the loss, damage, or delay: (a) (b) Act of God; Perils, dangers, and accidents of the sea or other navigable waters; (c) War, hostilities, armed conflict, piracy, terrorism, riots, and civil commotions; (d) Quarantine restrictions; interference by or impediments created by governments, public authorities, rulers, or people including detention, arrest, or seizure not attributable to the carrier or any person referred to in article 18; (e) (f) (g) 14 Strikes, lockouts, stoppages, or restraints of labour; Fire on the ship; Latent defects not discoverable by due diligence; h) Act or omission of the shipper, the documentary shipper, the controlling party, or any other person for whose acts the shipper or t he documentary shipper is liable pursuant to article 33 or 34; (i) Loading, handling, stowing, or unloading of the goods performed pursuant to an agreement in accordance with article 13, paragraph 2, unless the carrier or a performing party performs such activity on behalf of the shipper, the documentary shipper or the consignee; (j) Wastage in bulk or weight or any other loss or damage arising from inherent defect, quality, or vice of the goods; (k) Insufficiency or defective condition of packing or marking not performed by or on behalf of the carrier; (l) Saving or attempting to save life at sea; (m) Reasonable measures to save or attempt to save property at sea; (n) Reasonable measures to avoid or attempt to avoid damage to the environment; or (o) and 16 . Acts of the carrier in pursuance of the powers conferred by articles 15 4 . Notwithstanding paragraph 3 of this article, the carrier is liable for all or part of the loss, damage, or delay: (a) If the claimant proves that the fault of the carrier or of a person referred to in article 18 caused or contributed to the event or circumstance on which the carrier relies; or (b) If the claimant proves that an event or circumstance not listed in paragraph 3 of this article contributed to the loss, damage, or delay, and the carrier cannot prove that this event or circumstance is not attributable to its fault or to the fault of any person referred to in article 18 . 5 . The carrier is also liable, notwithstanding paragraph 3 of this article, for all or part of the loss, damage, or delay if: (a) The claimant proves that the loss, damage, or delay was or was probably caused by or contributed to by (i) the unseaworthiness of the ship; (ii) the improper crewing, equipping, and supplying of the ship; or (iii) the fact that the holds or other parts of the ship in which the goods are carried, or any containers supplied by the carrier in or upon which the goods are carried, were not fit and safe for reception, carriage, and preservation of the goods; and 15 (b) The carrier is unable to prove either that: (i) none of the events or circumstances referred to in subparagraph 5 (a) of this article caused the loss, damage, or delay; or (ii) it complied with its obligation to exercise due diligence pursuant to article 14 . 6 . When the carrier is relieved of part of its liability pursuant to this article, the carrier is liable only for that part of the loss, damage or delay that is attributable to the event or circumstance for which it is liable pursuant to this article . Article 18 Liability of the carrier for other persons The carrier is liable for the breach of its obligations under this Convention caused by the acts or omissions of: (a) (b) (c) Any performing party; The master or crew of the ship; Employees of the carrier or a performing party; or (d) Any other person that performs or undertakes to perform any of the carrier’s obligations under the contract of carriage, to the extent that the person acts, either directly or indirectly, at the carrier’s request or under the carrier’s supervision or control . Article 19 Liability of maritime performing parties 1 . A maritime performing party is subject to the obligations and liabilities imposed on the carrier under this Convention and is entitled to the carrier’s defences and limits of liability as provided for in this Convention if: (a) The maritime performing party received the goods for carriage in a Contracting State, or delivered them in a Contracting State, or performed its activities with respect to the goods in a port in a Contracting State; and (b) The occurrence that caused the loss, damage or delay took place: (i) during the period between the arrival of the goods at the port of loading of the ship and their departure from the port of discharge from the ship; (ii) while the maritime performing party had custody of the goods; or (iii) at any other time to the extent that it was participating in the performance of any of the activities contemplated by the contract of carriage . 16 2 . If the carrier agrees to assume obligations other than those imposed on the carrier under this Convention, or agrees that the limits of its liability are higher than the limits specified under this Convention, a maritime performing party is not bound by this agreement unless it expressly agrees to accept such obligations or such higher limits . 3 . A maritime performing party is liable for the breach of its obligations under this Convention caused by the acts or omissions of any person to which it has entrusted the performance of any of the carrier’s obligations under the contract of carriage under the conditions set out in paragraph 1 of this article . 4 . Nothing in this Convention imposes liability on the master or crew of the ship or on an employee of the carrier or of a maritime performing party . Article 20 Joint and several liability 1 . If the carrier and one or more maritime performing parties are liable for the loss of, damage to, or delay in delivery of the goods, their liability is joint and several but only up to the limits provided for under this Convention . 2 . Without prejudice to article 61, the aggregate liability of all such persons shall not exceed the overall limits of liability under this Convention . Article 21 Delay Delay in delivery occurs when the goods are not delivered at the place of destination provided for in the contract of carriage within the time agreed . Article 22 Calculation of compensation 1 . Subject to article 59, the compensation payable by the carrier for loss of or damage to the goods is calculated by reference to the value of such goods at the place and time of delivery established in accordance with article 43 . 2 . The value of the goods is fixed according to the commodity exchange price or, if there is no such price, according to their market price or, if there is no commodity exchange price or market price, by reference to the normal value of the goods of the same kind and quality at the place of delivery . 17 3 . In case of loss of or damage to the goods, the carrier is not liable for payment of any compensation beyond what is provided for in paragraphs 1 and 2 of this article except when the carrier and the shipper have agreed to calculate compensation in a different manner within the limits of chapter 16 . Article 23 Notice in case of loss, damage or delay 1 . The carrier is presumed, in absence of proof to the contrary, to have delivered the goods according to their description in the contract particulars unless notice of loss of or damage to the goods, indicating the general nature of such loss or damage, was given to the carrier or the performing party that delivered the goods before or at the time of the delivery, or, if the loss or damage is not apparent, within seven working days at the place of delivery after the delivery of the goods . 2 . Failure to provide the notice referred to in this article to the carrier or the performing party shall not affect the right to claim compensation for loss of or damage to the goods under this Convention, nor shall it affect the allocation of the burden of proof set out in article 17 . 3 . The notice referred to in this article is not required in respect of loss or damage that is ascertained in a joint inspection of the goods by the person to which they have been delivered and the carrier or the m aritime performing party against which liability is being asserted . 4 . No compensation in respect of delay is payable unless notice of loss due to delay was given to the carrier within twenty-one consecutive days of delivery of the goods . 5 . When the notice referred to in this article is given to the performing party that delivered the goods, it has the same effect as if that notice was given to the carrier, and notice given to the carrier has the same effect as a notice given to a maritime performing party . 6 . In the case of any actual or apprehended loss or damage, the parties to the dispute shall give all reasonable facilities to each other for inspecting and tallying the goods and shall provide access to records and documents relevant to the carriage of the goods . 18 Chapter 6 Additional provisions relating to particular stages of carriage Article 24 Deviation When pursuant to applicable law a deviation constitutes a breach of the carrier’s obligations, such deviation of itself shall not deprive the carrier or a maritime performing party of any defence or limitation of this Convention, except to the extent provided in article 61 . Article 25 Deck cargo on ships 1 . Goods may be carried on the deck of a ship only if: (a) Such carriage is required by law; (b) They are carried in or on containers or vehicles that are fit for deck carriage, and the decks are specially fitted to carry such containers or vehicles; or (c) The carriage on deck is in accordance with the contract of carriage, or the customs, usages or practices of the trade in question . 2 . The provisions of this Convention relating to the liability of the carrier apply to the loss of, damage to or delay in the delivery of goods carried on deck pursuant to paragraph 1 of this article, but the carrier is not liable for loss of or damage to such goods, or delay in their delivery, caused by the special risks involved in their carriage on deck when the goods are carried in accordance with subparagraphs 1 (a) or (c) of this article . 3 . If the goods have been carried on deck in cases other than those permitted pursuant to paragraph 1 of this article, the carrier is liable for loss of or damage to the goods or delay in their delivery that is exclusively caused by their carriage on deck, and is not entitled to the defences provided for in article 17 . 4 . The carrier is not entitled to invoke subparagraph 1 (c) of this article against a third party that has acquired a negotiable transport document or a negotiable electronic transport record in good faith, unless the contract particulars state that the goods may be carried on deck . 19 5 . If the carrier and shipper expressly agreed that the goods would be carried under deck, the carrier is not entitled to the benefit of the limitation of liability for any loss of, damage to or delay in the delivery of the goods to the extent that such loss, damage, or delay resulted from their carriage on deck . Article 26 Carriage preceding or subsequent to sea carriage When loss of or damage to goods, or an event or circumstance causing a delay in their delivery, occurs during the carrier’s period of responsibility but solely before their loading onto the ship or solely after their discharge from the ship, the provisions of this Convention do not prevail over those provisions of another international instrument that, at the time of such loss, damage or event or circumstance causing delay: (a) Pursuant to the provisions of such international instrument would have applied to all or any of the carrier’s activities if the shipper had made a separate and direct contract with the carrier in respect of the particular stage of carriage where the loss of, or damage to goods, or an event or circumstance causing delay in their delivery occurred; (b) Specifically provide for the carrier’s liability, limitation of liability, or time for suit; and (c) Cannot be departed from by contract either at all or to the detriment of the shipper under that instrument . Chapter 7 Obligations of the shipper to the carrier Article 27 Delivery for carriage 1 . Unless otherwise agreed in the contract of carriage, the shipper shall deliver the goods ready for carriage . In any event, the shipper shall deliver the goods in such condition that they will withstand the intended carriage, including their loading, handling, stowing, lashing and securing, and unloading, and that they will not cause harm to persons or property . 2 . The shipper shall properly and carefully perform any obligation assumed under an agreement made pursuant to article 13, paragraph 2 . 20 3 . When a container is packed or a vehicle is loaded by the shipper, the shipper shall properly and carefully stow, lash and secure the contents in or on the container or vehicle, and in such a way that they will not cause harm to persons or property . Article 28 Cooperation of the shipper and the carrier in providing information and instructions The carrier and the shipper shall respond to requests from each other to provide information and instructions required for the proper handling and carriage of the goods if the information is in the requested party’s possession or the instructions are within the requested party’s reasonable ability to provide and they are not otherwise reasonably available to the requesting party . Article 29 Shipper’s obligation to provide information, instructions and documents 1 . The shipper shall provide to the carrier in a timely manner such information, instructions and documents relating to the goods that are not otherwise reasonably available to the carrier, and that are reasonably necessary: (a) For the proper handling and carriage of the goods, including precautions to be taken by the carrier or a performing party; and (b) For the carrier to comply with law, regulations or other requirements of public authorities in connection with the intended carriage, provided that the carrier notifies the shipper in a timely manner of the information, instructions and documents it requires . 2 . Nothing in this article affects any specific obligation to provide certain information, instructions and documents related to the goods pursuant to law, regulations or other requirements of public authorities in connection with the intended carriage . Article 30 Basis of shipper’s liability to the carrier 1 . The shipper is liable for loss or damage sustained by the carrier if the carrier proves that such loss or damage was caused by a breach of the shipper’s obligations under this Convention . 1 2 . Except in respect of loss or damage caused by a breach by the shipper of its obligations pursuant to articles 31, paragraph 2, and 32, the shipper is relieved of all or part of its liability if the cause or one of the causes of the loss or damage is not attributable to its fault or to the fault of any person referred to in article 34 . 3 . When the shipper is relieved of part of its liability pursuant to this article, the shipper is liable only for that part of the loss or damage that is attributable to its fault or to the fault of any person referred to in article 34 . Article 31 Information for compilation of contract particulars 1 . The shipper shall provide to the carrier, in a timely manner, accurate information required for the compilation of the contract particulars and the issuance of the transport documents or electronic transport records, including the particulars referred to in article 36, paragraph 1; the name of the party to be identified as the shipper in the contract particulars; the name of the consignee, if any; and the name of the person to whose order the transport document or electronic transport record is to be issued, if any . 2 . The shipper is deemed to have guaranteed the accuracy at the time of receipt by the carrier of the information that is provided according to paragraph 1 of this article . The shipper shall indemnify the carrier against loss or damage resulting from the inaccuracy of such information . Article 32 Special rules on dangerous goods When goods by their nature or character are, or reasonably appear likely to become, a danger to persons, property or the environment: (a) The shipper shall inform the carrier of the dangerous nature or character of the goods in a timely manner before they are delivered to the carrier or a performing party . If the shipper fails to do so and the carrier or performing party does not otherwise have knowledge of their dangerous nature or character, the shipper is liable to the carrier for loss or damage resulting from such failure to inform; and (b) The shipper shall mark or label dangerous goods in accordance with any law, regulations or other requirements of public authorities that apply during any stage of the intended carriage of the goods . If the shipper fails to do so, it is liable to the carrier for loss or damage resulting from such failure . 22 Article 33 Assumption of shipper’s rights and obligations by the documentary shipper 1 . A documentary shipper is subject to the obligations and liabilities imposed on the shipper pursuant to this chapter and pursuant to article 55, and is entitled to the shipper’s rights and defences provided by this chapter and by chapter 13 . 2 . Paragraph 1 of this article does not affect the obligations, liabilities, rights or defences of the shipper . Article 34 Liability of the shipper for other persons The shipper is liable for the breach of its obligations under this Convention caused by the acts or omissions of any person, including employees, agents and subcontractors, to which it has entrusted the performance of any of its obligations, but the shipper is not liable for acts or omissions of the carrier or a performing party acting on behalf of the carrier, to which the shipper has entrusted the performance of its obligations . Chapter 8 Transport documents and electronic transport records Article 35 Issuance of the transport document or the electronic transport record Unless the shipper and the carrier have agreed not to use a transport document or an electronic transport record, or it is the custom, usage or practice of the trade not to use one, upon delivery of the goods for carriage to the carrier or performing party, the shipper or, if the shipper consents, the documentary shipper, is entitled to obtain from the carrier, at the shipper’s option: (a) A non-negotiable transport document or, subject to article 8, subparagraph (a), a non-negotiable electronic transport record; or (b) An appropriate negotiable transport document or, subject to article 8, subparagraph (a), a negotiable electronic transport record, unless the shipper and the carrier have agreed not to use a negotiable transport document or negotiable electronic transport record, or it is the custom, usage or practice of the trade not t o use one . 23 Article 36 Contract particulars 1 . The contract particulars in the transport document or electronic ransport record referred to in article 35 shall include the following information, as furnished by the shipper: (a) (b) (c) (d) A description of the goods as appropriate for the transport; The leading marks necessary for identification of the goods; The number of packages or pieces, or the quantity of goods; and The weight of the goods, if furnished by the shipper . 2 . The contract particulars in the transport document or electronic transport record referred to in article 35 shall also include: (a) A statement of the apparent order and condition of the goods at the time the carrier or a performing party receives them for carriage; (b) The name and address of the carrier; c) The date on which the carrier or a performing party received the goods, or on which the goods were loaded on board the ship, or on which the transport document or electronic transport record was is sued; and (d) If the transport document is negotiable, the number of originals of the negotiable transport document, when more than one original is issued . 3 . The contract particulars in the transport document or electronic transport record referred to in article 35 shall further include: (a) (b) (c) and (d) The port of loading and the port of discharge, if specified in the contract of carriage . 4 . For the purposes of this article, the phrase â€Å"apparent order and condition of the goods† in subparagraph 2 (a) of this article refers to the order and condition of the goods based on: 24 The name and address of the consignee, if named by the shipper; The name of a ship, if specified in the contract of carriage; The place of receipt and, if known to the carrier, the place of delivery; (a) A reasonable external inspection of the goods as packaged at the time the shipper delivers them to the carrier or a performing party; and (b) Any additional inspection that the carrier or a performing party actually performs before issuing the transport document or electronic transport record . Article 37 Identity of the carrier 1 . If a carrier is identified by name in the contract particulars, any other information in the transport document or electronic transport record relating to the identity of the carrier shall have no effect to the extent that it is inconsistent with that identification . 2 . If no person is identified in the contract particulars as the carrier as required pursuant to article 36, subparagraph 2 (b), but the contract particulars indicate that the goods have been loaded on board a named ship, the registered owner of that ship is presumed to be the carrier, unless it proves that the ship was under a bareboat charter at the time of the carriage and it identifies this bareboat charterer and indicates its address, in which case this bareboat charterer is presumed to be the carrier . Alternatively, the registered owner may rebut the presumption of being the carrier by identifying the carrier and indicating its address . The bareboat charterer may rebut any presumption of being the carrier in the same manner . 3 . Nothing in this article prevents the claimant from proving that any person other than a person identified in the contract particulars or pursuant to paragraph 2 of this article is the carrier . Article 38 Signature 1 . A transport document shall be signed by the carrier or a person acting on its behalf . 2 . An electronic transport record shall include the electronic signature of the carrier or a person acting on its behalf . Such electronic signature shall identify the signatory in relation to the electronic transport record and indicate the carrier’s authorization of the electronic transport record . 25 Article 39 Deficiencies in the contract particulars 1 . The absence or inaccuracy of one or more of the contract particulars referred to in article 36, paragraphs 1, 2 or 3, does not of itself affect the legal character or validity of the transport document or of the electronic transport record . 2 . If the contract particulars include the date but fail to indicate its significance, the date is deemed to be: (a) The date on which all of the goods indicated in the transport document or electronic transport record were loaded on board the ship, if the contract particulars indicate that the goods have been loaded on board a ship; or (b) The date on which the carrier or a performing party received the goods, if the contract particulars do not indicate that the goods have been loaded on board a ship . 3 . If the contract particulars fail to state the apparent order and condition of the goods at the time the carrier or a performing party receives them, the contract particulars are deemed to have stated that the goods were in apparent good order and condition at the time the carrier or a performing party received them . Article 40 Qualifying the information relating to the goods in the contract particulars 1 . The carrier shall qualify the information referred to in article 36, paragraph 1, to indicate that the carrier does not assume responsibility for the accuracy of the information furnished by the shipper if: (a) The carrier has actual knowledge that any material statement in the transport document or electronic transport record is false or misleading; or (b) The carrier has reasonable grounds to believe that a material statement in the transport document or electronic transport record is false or misleading . 2 . Without prejudice to paragraph 1 of this article, the carrier may qualify the information referred to in article 36, paragraph 1, in the circumstances and in the manner set out in paragraphs 3 and 4 of this article to indicate that the carrier does not assume responsibility for the accuracy of the information furnished by the shipper . 26 3 . When the goods are not delivered for carriage to the carrier or a performing party in a closed container or vehicle, or when they are delivered in a closed container or vehicle and the carrier or a performing party actually inspects them, the carrier may qualify the information referred to in article 36, paragraph 1, if: (a) The carrier had no physically practicable or commercially reasonable means of checking the information furnished by the shipper, in which case it may indicate which information it was unable to check; or (b) The carrier has reasonable grounds to believe the information furnished by the shipper to be inaccurate, in which case it may include a clause providing what it reasonably considers accurate information . 4 . When the goods are delivered for carriage to the carrier or a performing party in a closed container or vehicle, the carrier may qualify the information referred to in: (a) Article 36, subparagraphs 1 (a), (b), or (c), if: (i) The goods inside the contai ner or vehicle have not actually been inspected by the carrier or a performing party; and (ii) Neither the carrier nor a performing party otherwise has actual knowledge of its contents before issuing the transport document or the electronic transport record; and (b) Article 36, subparagraph 1 (d), if: i) Neither the carrier nor a performing party weighed the container or vehicle, and the shipper and the carrier had not agreed prior to the shipment that the container or vehicle would be weighed and the weight would be included in the contract particulars; or (ii) There was no physically practicable or commercially reasonable means of checking the weight of the container or vehicle . Article 41 Evidentiary effect of the contract particulars Except to the extent that the contract particulars have been qualified in the circumstances and in the manner set out in article 40: (a) A transport document or an electronic transport record is prima facie evidence of the carrier’s receipt of the goods as stated in the contract particulars; 27 b) Proof to the contrary by the carrier in respect of any contract particulars shall not be admissible, when such contract particulars are included in: (i) A negotiable transport document or a negotiable electronic transport record that is transferred to a third party acting in good faith; or (ii) A non-negotiable transport document that indicates that it must be surrendered in order to obtain delivery of the goods and is transferred to the consignee acting in good faith; (c) Proof to the contrary by the carrier shall not be admissible against a consignee that in good faith has acted in reliance on any of the following contract particulars included in a non-negotiable transport document or a non negotiable electronic transport record: (i) The contract particulars referred to in article 36, paragraph 1, when such contract particulars are furnished by the carrier; (ii) The number, type and identifying numbers of the containers, bu t not the identifying numbers of the con