Revamping India’s Maritime Law: The Merchant Shipping Bill

 

Parliament has recently passed two significant pieces of legislation: the Merchant Shipping Bill, 2024, and the Carriage of Goods by Sea Bill, 2025, aimed at modernizing India’s maritime laws and aligning them with international standards. These reforms are crucial for enhancing India’s role in global shipping and trade.

Modernization of Maritime Law

Previously, India’s maritime sector was primarily governed by the Merchant Shipping Act of 1958 and the Indian Carriage of Goods by Sea Act of 1925. These laws were outdated and ill-equipped to address contemporary maritime challenges. The newly introduced bills aim to replace these colonial-era legislations with comprehensive, forward-thinking legal frameworks that promote clarity and efficiency in maritime operations.

Merchant Shipping Bill, 2024

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EL TRANSPORTE MARÍTIMO: NORMAS DE TRÁFICO Y DE SEGURIDAD

https://www.europarl.europa.eu/erpl-app-public/factsheets/pdf/es/FTU_3.4.11.pdf

Ship Mortgage Explained: Certificate, Types, Sale, Discharge

 

 

 

 

Marine Public

How ship mortgage certificates, conventions, and types shape maritime financing


Q: What exactly is a ship mortgage?
A: A ship mortgage represents a secured loan where the vessel itself serves as collateral, giving the lender rights to the ship if payments aren't made, ensuring repayment through potential vessel seizure and sale.


CERTIFICATE OF MORTGAGE

Navigating the world of ship mortgages begins with understanding the certificate that formalizes this financial arrangement. This document transforms a simple loan into a powerful security instrument, protecting both lender and borrower in the unpredictable maritime environment.

The certificate establishes the vessel as collateral, creating a legal framework where the ship becomes the lender's guarantee. Without this formal documentation, lenders face significant risks in an industry where vessels can vanish

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Foreign Corrupt Practices Act (FCPA): Anti-Bribery Provisions Explained

 

 

 

https://www.investopedia.com/terms/f/foreign-corrupt-practices-act.asp

 By 
 
7 Reasons You Haven’t Received Your Tax Refund

KEY TAKEAWAYS

  • The FCPA prohibits U.S. companies from bribing foreign officials to gain business advantages.
  • The law applies to both publicly traded and privately held U.S. companies worldwide.
  • SEC and DOJ enforce the FCPA, with potential penalties including heavy fines and imprisonment.
  • The FCPA's accounting provisions require companies to maintain transparent financial records.
  • Notable companies, including Ericsson and Microsoft, have faced significant penalties for FCPA violations.

What Is the Foreign Corrupt Practices Act (FCPA)?

The Foreign Corrupt Practices Act (FCPA, the Act) is a United States law that prohibits U.S. firms and individuals from paying bribes to foreign officials to further business deals. The FCPA contains

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The Medieval Law Merchant: The Tyranny of a Construct Open Access

https://academic.oup.com/jla/article/7/2/251/1751833

Journal of Legal Analysis, Volume 7, Issue 2, Winter 2015, Pages 251–289, https://doi.org/10.1093/jla/lav004
Published:
 
26 June 2015