What is fcr date

Any consideration moving from the Company to such other person, firm or company shall be deemed to be consideration moving from the Customer to such other person, firm or company. The Customer undertakes not seek to impose upon any such person, firm or company any liability greater than that accepted by the Company under these conditions, and if, in breach of this undertaking, he should seek to do so, he shall indemnify the Company for any resulting liability or expense which the Company may thereby incur to such person, firm or company.

The Company is not a carrier and does not make or purport to make as principal or carrier any contract for the carriage, storage, packing or handing of Goods with the Customer. In particular, the Company is not a common carrier. From and after the delivery by the Company to a carrier in accordance with the instructions of the Customer, the Customer agrees that the sole responsibility and liability for the care, custody, carriage and delivery of the Goods shall be that of said carrier and not that of the Company.

The Company is hereby authorized to, and the Company undertakes only to, forward the Goods and otherwise arrange for the shipment and transportation of the Goods by water or air carriers as the agent of the customer. The customer acknowledges that they shall be bound by the terms and conditions of the transportation agreements of the carriers into whose custody the Goods may be forwarded.

The responsibility and liability of the Company shall be limited to that period of time in which Company has exclusive custody of the Goods.

To secure a due proportion between the charges it earns and the amount for which it may be responsible in the event of loss or damage to the Goods, the Company has established its regular, lower rates and charges for Goods limited in value as hereinafter agreed. The Customer shall defend, indemnify and hold harmless the Company in respect of any injury or death of any person, or damage to cargo or any other property, or any expenses, including legal fees, caused by breach of any of the foregoing warranties.

To avoid this possibility, they should consider engaging a financial intermediary:. The understanding of these deficiencies will help all parties concerned proactively manage related risks—especially in a new business relationship—without missing out on business opportunities.

Printed version. Actionable Insights on Trade and Finance. Right in your inbox. FCR vs. Warehouse Receipt Contrary to a warehouse receipt, whose release mechanism makes a warehouseman exclusively liable to the warehouse receipt holder, the FCR creates a situation whereby the forwarding agent assumes obligations to two principals.

Managing the risk A party making a payment against the FCR should consider the following: An FCR is not a Warehouse Receipt The FCR should not be confused with the Warehouse Receipt, which is a document of title in some but not all jurisdictions and whose flow is generally well regulated.

Validate the FCR with a relevant authority When the FCR is issued at a port of loading or another transit point, nothing prevents the FCR holder from establishing direct contact with the relevant warehousing authority to confirm the availability of subject goods. Make title to goods transferable upon payment A related sales contract should have a clear provision that title to goods is transferred from the seller to the buyer upon payment.

Search for:. EV Cargo Global Forwarding shall have no liability whatsoever howsoever arising for or in connection with the goods. The Owner on behalf of itself and its assigns and any party acquiring title to the cargo under or though it, hereby waives any claim against EV Cargo Global Forwarding arising out of or in connection with the issuance of the Cargo Receipt by EV Cargo Global Forwarding unless such claim arise out of a misdeclaration in the said Cargo Receipt of the number of packages or shipping units received by EV Cargo Global Forwarding or the apparent order and conditions.

Investigating, negotiating or otherwise dealing with claims by EV Cargo Global Forwarding or its legal advisers or representatives shall not be deemed a waiver of any of the foregoing provisions. EV Cargo uses cookies and other tracking technology to improve the performance of our site, analyse your use of it and measure our marketing efforts. For more information and to read more about our privacy policy, please visit our Privacy Policy. FCR Conditions Forwarder cargo receipt terms and conditions.

Unlike a bill of lading, the FCR is not a document of title to the goods under any legal system — a major defect in the event of disputes.

The freight forwarder can only vary the instructions in the FCR if they are able to do so e. An important use is for letter of credit transactions where the buyer is responsible for main transport — e. The letter of credit will call for this instead of a transport document such as bill of lading.