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.
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|Publication:||EMBIN (Emerging Markets Business Information News)|
|Date:||Jul 18, 2010|
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