A REAPPRAISAL OF THE CONTRACT FOR CARRIAGE OF GOODS BY SEA APPLICABLE TO NIGERIA AND THE GLOBAL COMMERCIAL COMMUNITY

Abstract

The concept of international trade is not new to man. It has evolved over time and takes place through several routes; it is the transportation of goods that makes trading a continuous activity without which there would be no movement of the goods concerned. It is necessary that the transportation or carriage of goods by whatever mode adopted must be done in a safe and efficient manner if the parties to the transaction are to be satisfied and retain their trade relations. The focus of this paper is directed on the transportation or carriage of goods by sea which represents nearly 80% of the mode of transportation of goods across continents, counties and even individual states. To this end it is therefore paramount to have in place binding agreements between the parties involved in the carriage contract as well as relevant laws that regulates the contract and sets out the rights and obligations of the parties in order to create a safe and smooth business environment.