Freight Contracts Pt 3 of 3

Freight Contracts Pt 3 of 3

8/26/2014 Umut Türker 2367 Times Read

Continues from Part 2…

10. Risk of loss, liability: the transportation company usually assumes this risk once they have the goods

11. Indemnification by the transportation logistics company: if the company does or does not do anything then they will hold the goods company harmless.

12. Confidential information: no disclosures to third parties

13. Severability: if any clause is deemed illegal or unenforceable, either now or in the future, then that clause will not affect the remainder of the contract.

14. Applicable law: of the locality, state, province or nation

15. Arbitration: (Especially in the United States) If there are disputes then the resolution will be determined not by the costly and time-consuming court system but by an agreed-upon arbitrator

16. Year 2000 compliance: Apparently I came across an old contract. At one time, this was a predominant concern and issue.

17. Right of offset: timely and accurate processing of invoices, taking into consideration any disputed money

18. Assignment: Things that need prior written consent

19. Force majeure: what to do in case of anything beyond the control of one or both parties

20. Trademarks: the use of them

21. Entire agreement

22. Amendments

23. Authorization: the parties signing are authorized to act and perform the duties involved

24. Non-waiver: certain actions or inactions will not be deemed a waiver of the contract

25. Notices: in writing, and describing how delivered.

There are also many good and generic contracts in PDF formats so that you can see a better and clearer version of such a contract and the specific wording used.

Again, I am not a lawyer and you may not necessarily need to know this information. However, if you are negotiating a freight contract or are authorized to be acting on the company's behalf then it can be very helpful to keep these things in mind.

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