Printer Friendly

Standardization of cargo liability limits.

Summary: The International Air Transport Association (IATA) announced the standardization of cargo liability limits.

The International Air Transport Association (IATA) announced the standardization of cargo liability limits. With regulatory approval and with effect from 1 July 2010, the Air Waybill (AWB) Conditions of Contract (IATA Resolution 600b) have been changed to harmonize the application of the Montreal Convention liability limit for all air cargo across all routes. This simplified approach improves efficiency for shippers and forwarders. It is also consistent with industry efforts to improve competitiveness by simplifying global processes with projects including IATA e-freight. The amendment to Resolution 600b standardizes the application of the 19 Special Drawing Rights (SDRs) per kilogram Montreal Convention liability limit to all routes worldwide.

Copyright EMBIN (Emerging Markets Business Information News)

Provided by Syndigate.info an Albawaba.com company

COPYRIGHT 2010 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2010 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:EMBIN (Emerging Markets Business Information News)
Date:Jul 18, 2010
Words:135
Previous Article:Market for 30,900 New Commercial Airplanes Valued at $3.6 Trillion Over Next 20 Years.
Next Article:TourMedEau project.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters