A Concise Guide to INCOTERMS 2020 in International Transactions

INCOTERMS, an abbreviation for International Commercial Terms, constitute a standardized set of international trade terminology employed within international contracts and commercial dealings. These terms were initially introduced by the International Chamber of Commerce (ICC) in 1936 and have subsequently undergone multiple revisions. The most recent version is INCOTERMS 2020. They serve to establish a common […]

Posted by Niloofar Foroozanfar
On 28 November 2023

The Changing Dynamics of the Yachting Industry: Impact of Russian Sanctions

Before Russia’s attack on Ukraine, the pandemic played an important role in increasing yacht sales among the ultra-wealthy. As individuals sought greater privacy and isolation, yachts provided a means to escape and enjoy exclusive experiences. The desire for seclusion and theability to control their environment contributed to the heightened demand for yachts among this affluent […]

Posted by Lorenzo Macchi
On 21 June 2023

Recovery of maritime claims and ship arrest – Overview

Ship arrest is a powerful tool in the hands of ship suppliers and other companies working in the shipping industry. Shipowners generally manage risks and limit liability by placing vessels of their fleet under the ownership of “single ships companies”. Credit recovery is likely to be a difficult exercise for small medium enterprises who may […]

Posted by Federico Serra
On 2 July 2021

SUEZ CANAL CASUALTY HOTLINE

As the grounding of the M/V EVER GIVEN has placed an incredible burden on the global trade and the maritime cluster, MEPLAW has set up an emergency hotline to provide quick response to the operators seeking assistance in relation to the Suez Canal casualty. General average has been declared and cargo owners may be required […]

Posted by Lorenzo Macchi
On 13 April 2021

CONTAINER DEMURRAGE AND DETENTION UNDER ITALIAN LAW

Container demurrage and detention can be defined as the sum payable to the carrier on account failing to redeliver the containers – emptied and cleaned – within the agreed free time period. Specifically, the term demurrage refers to the charge to be paid for the use of the container within the terminal, whilst the term detention refers […]

Posted by Lorenzo Macchi
On 13 April 2021

TRANSPORTATION BY ROAD AFTER THE TCA

How the transportation by road is going to change after the Trade and Cooperation Agreement (TCA) between the United Kingdom and the European Union.ù On 1 January, the Trade and Cooperation Agreement (TCA) came into force, governing the commercial relationship between the United Kingdom and the European Union. It introduces new rules for the carriage […]

Posted by Lorenzo Macchi
On 24 March 2021

THE LIABILITY OF THE CLASSIFICATION SOCIETIES

The sinking of the Al-Salam Boccaccio ‘98: a pivotal ruling of the European Court of Justice followed by the Italian Supreme Court denying state immunity to the classification societies. Factual Background The Al-Salam Boccaccio ‘98, a Panama flagged Ro-Ro passenger ferry en route from Saudi Arabia to Egypt sunk in the Red Sea on the […]

Posted by Lorenzo Macchi
On 12 March 2021

FORCE MAJEURE AND HARDSHIP IN COMMERCIAL CONTRACTS

I – INTRODUCTION Both force majeure and hardship have as a common ground the problem of changed circumstances after the parties entered into a contract. Thus, the parties are asked to face a fundamental change of equilibrium of the contract: either because it renders the performances totally impracticable or because the performances have become excessively […]

Posted by Lorenzo Macchi
On 24 September 2019

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