Skip to main content
NVOCC Articles

Corporate Fair Trade Community

By March 14, 2019October 1st, 202645,039 Comments

IMB launches initiative to curb B/L fraud

The International Maritime Bureau (IMB) has launched a new initiative aimed at curbing bills of lading (B/L) fraud carried out by non-vessel owning common carriers (NVOCCs).

News key points: 

1

B/Ls Key Documents

B/Ls are crucial documents relied upon by many stakeholders in the trading chain including banks, shipping companies, carriers and charterers.
2

IMB checks B/L for its members

While the vast majority of NVOCCs issue B/Ls correctly, there is a small minority that do not.
3

95% false B/Ls

IMB’s says that up to 95 percent of the false B/Ls identified by the Bureau are issued by NVOCCs.
4

An IMB spokesman said

“Incidents of ship owners/carriers or their agents issuing false B/Ls are uncommon because they take a big risk in doing so and open themselves to legal action.
5

However

unlike the carriers or their agents, the majority of NVOCCs do not have any assets which are at risk in these transactions except for their reputations.
6

Fraudulent Practices in B/Ls

This could lead to fraudulent practices, and banks that unwittingly process false B/Ls could discover that either there are no cargoes underlying the documents or that the shipments may be misrepresented.
7

IMB spokesman added

“The NVOCC Register therefore recognises participating NVOCCs who adhere to a minimum standard of anti-fraud measures in their operations,”
8

Inviting NVOCCs

IMB is inviting NVOCCs to sign up to its NVOCC Register. In doing so they will also have to sign up to a Code of Conduct for the issuance of B/Ls. Failure to comply with the Code of Conduct may result in removal of the NVOCC from the Register in certain circumstances.
9

The intention behind NVOCC Register

The intention is not to exclude defaulting NVOCCs but to help them improve the steps taken to issue bills of lading which is relied upon by a number of other stakeholders.
10

Advantage to Signup for NVOCC Register

IMB says an advantage of signing up to the Register is that banks may process the documents of NVOCCs on the Register faster than those that are not.
11

Backed by ICC Academy

The IMB NVOCC Register is backed by an online course designed by the IMB and run by the ICC Academy which specialises in trade related online training (https://icc.academy/).
12

IMB NVOCC Register Now in Singapore

The IMB NVOCC Register was officially launched in Singapore last month, attended by more than 100 representatives from banks, logistics companies and trading firms.

IMB NVOCC Register Now in Singapore

The IMB NVOCC Register was officially launched in Singapore last month, attended by more than 100 representatives from banks, logistics companies and trading firms.

45,039 Comments

  • rubber_ghKl says:

    Looking for a quick, professional impression? Check out rubber stamp online maker to design and order your custom stamp in minutes.
    Developing a rubber stamp maker online is simplified today thanks to intuitive web platforms and helpful design features.
    Designers and small businesses can quickly upload logos and choose styles that match their branding goals. Designers and small businesses can quickly upload logos and choose styles that match their branding goals.

    Customization options include size, shape, text font, and imprint details to ensure a perfect result. Tailoring choices cover measurements, outlines, lettering style, and impression particulars to guarantee satisfaction.
    Preview tools let users see realistic mockups before placing an order, reducing errors and returns. Interactive previews provide true-to-life images before purchase, lowering the chance of corrections and exchanges.

    Production workflows integrate automated verification and quality checks to maintain consistent results across batches. Production workflows integrate automated verification and quality checks to maintain consistent results across batches.
    Shipping options and lead times vary by provider, offering express or economy choices for different budgets. Delivery methods and turnaround times depend on the supplier, providing fast or standard services to fit various budgets.

    Customer support often includes template assistance and setup guides to help new users get professional results. Customer support often includes template assistance and setup guides to help new users get professional results.
    Security and payment systems are implemented to protect transactions and customer data when using an online rubber stamp maker. Secure checkout and encryption methods are in place to safeguard payments and personal information on rubber stamp maker platforms.

  • Для строительства уютного загородного жилья идеально подходит каркасные дома под ключ в спб цены.
    Основные преимущества каркасного строения — низкая стоимость и быстрый монтаж.

    Каркас служит каркасной основой, которую покрывают защитными и утепляющими слоями.

    Средства и время, затрачиваемые на каркасный дом, обычно меньше, чем при иных методах строительства.

    Перед началом строительства рекомендуется проконсультироваться со специалистами и составить проект.

  • Casino_2_Fou says:

    Thanks on your marvelous posting! I quite enjoyed reading it, you might be a great
    author. I will remember to bookmark your blog and will eventually come back later
    on. I want to encourage you to continue your great work, have a nice morning!

  • If liquidation penalties are too harsh, user retention suffers. Enosys Global needs balance.

  • Timothywag says:

    Bu arada, eger sevgili kombinleri esofman tak?m? adidas konusuyla ilgileniyorsan?z, suraya bir goz at?n. Kendiniz gorun: https://dinamikstil.com/articles/esofman-takimlari-sevgili-kombinleri-adidas/

  • https://superfightersunblocked.club/ says:

    Excellent job on this achievement. Your professionalism and responsibility are admirable. I sincerely appreciate your hard work.

    https://superfightersunblocked.club/

  • binance says:

    Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?

  • Timothywag says:

    ince uzun oda dekorasyonu hakk?ndaki bolumu tavsiye ederim. Iste link: https://evhobisi.com/articles/uzun-oda-dekorasyonu-etkili-kullanim/

  • Hi there to all, the contents existing at this site are truly amazing for people knowledge, well, keep up the good work fellows.

Leave a Reply

error: Content is protected !!