Stand-by Letter of Credit
Arlaw » Transport Law
by Anna Realmuto
3y ago
Definition A standby letter of credit, abbreviated as SBLC, refers to a legal document where a bank guarantees the payment of a specific amount of money to a seller if the buyer defaults on the agreement. An SBLC acts as a safety net for the payment of a shipment of physical goods or completed service to the seller, in the event something unforeseen prevents the buyer from making the scheduled payments to the seller. In such a case, the SBLC ensures the required payments are made to the seller after fulfillment of the required obligations. A standby letter of credit is used in international or ..read more
Visit website
Covid-19 and international contract management – force majeure
Arlaw » Transport Law
by Anna Realmuto
3y ago
The epidemic from Covid19, in addition to the economic damage, causes legal issues that undermine, above all, the soundness of trade agreements, including transnational. In fact, the number of cases of termination of contracts, cancellations, cancellation of flights, problems of compensation, restrictions on trade, blocks of supply of raw materials are increasing, delays or inability to deliver the goods through a slender very fashionable of these times which is the ‘major force’. For Italian law, force majeure is any cause not attributable to the debtor that makes it impossible to fulfill (ar ..read more
Visit website
Coronavirus, logistics in crisis: how companies can limit damage
Arlaw » Transport Law
by Anna Realmuto
3y ago
Home It is true that the coronavirus emergency has caused the slowdown or even the blocking of logistic and production activities, but this can become an opportunity for companies to rethink their supply chain model: Apple, for example, has already reported the risk of reduced iPhone availability.  The impact of coronavirus on the supply chain The global problem with supply chains is due, as is well known, to the fact that the coronavirus epidemic has exploded in wuhan, in hubei province, an important industrial and freight hub in central China. So in addition to the risk of contagion, th ..read more
Visit website
The airline compensates the damages caused from the overturning of a glass of hot coffee
Arlaw » Transport Law
by Anna Realmuto
3y ago
By its judgment of 19 December 2019 in Case C-532/18, the Court of Justice sentenced the airline for the burns caused by the overturning of a hot coffee which for unknown reasons occurred during a flight, specifying that liability does not imply that a flight-related risk has occurred. The Case In the present case, a minor, and for whom her father, applied to the Austrian airline Niki Luftfahrt GmbH (in liquidation) for compensation under Article 17(1) of the Montreal Convention in order to obtain from the carrier (which at the time became insolvent) the order for compensation for the damage c ..read more
Visit website
Administrative sanctions in customs matters: the disproportion to the European standard.
Arlaw » Transport Law
by Anna Realmuto
3y ago
Premise The Tax Court of Lombardy with the sentence of appeal n. 2129 of 15/03/2018 declared disproportionate and consequent has deemed to disapply, in the quantum, the sanctions imposed by the Customs and Monopoly Agency on the basis of article 303 of the Single Text of Customs Legislation, reiterating “how the infringement of a general principle of European law allows the national court to disregard the rule that may be found incompatible with European law“. The sanction applied in the case treated, proportionate to the infringement committed, was determined equal to half of the published mi ..read more
Visit website
Supply chain
Arlaw » Transport Law
by Anna Realmuto
3y ago
With this term it is traditionally defined the set of the contractual relationships that allow to a’enterprise to guarantee the supplying of raw materials, products, members, to receive logistic services, distributive, in order to realize own products and to distribute them. These contractual relationships may include contracts such as sale, administration, subcontracting, procurement, supply of works, warehousing, logistics, with the relevant specific rules on validity and liability form for each type of contract. This means that interruptions or delays in the distribution chain (think of com ..read more
Visit website

Follow Arlaw » Transport Law on FeedSpot

Continue with Google
Continue with Apple
OR