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

  • I just couldn’t leave your web site prior to suggesting that I really enjoyed the standard info an individual supply to your guests? Is going to be again continuously in order to inspect new posts

  • AmandaSkake says:

    Ребята, подскажите, пожалуйста.

    На смартфоне в последнее время всё ведёт себя странно.

    Я уже примерно 6 раз пробовал переустанавливать приложение и чистить кэш.

    Я говорю про приложении 1xbet azerbaycan mobile.

    Через браузер ситуация тоже неидеальная: веб-версия иногда тормозит.

    На icc-ccs.org уже видел похожие обсуждения.

    Даже в разделе этот попадаются похожие сообщения.

    Похожий случай видел в теме “”.

    Moderator, если тема знакома, буду благодарен за совет.

    Если знаете нормальное решение без лишних экспериментов, буду очень благодарен за помощь.

    Спасибо всем, кто откликнется.

  • metall_iqMr says:

    Для строительства качественных конструкций рекомендуется использовать профлист с21 высокого стандарта.
    Высокая проводимость делает металлы незаменимыми в электронике и энергетике.

  • We can see that we need to develop policies to deal with this trend.

  • ZOOLANDIA says:

    Heya i am for the first time here. I came across this board and
    I find It truly useful & it helped me out much.
    I hope to give something back and help others like you aided me.

    Take a look at my blog; ZOOLANDIA

  • AmandaSkake says:

    Ребята, подскажите, пожалуйста.

    Не могу нормально разобраться с одной ошибкой на Android.

    Кэш чистил и ставил заново уже 6 раз, но стабильного результата так и нет.

    Говорю про app 1xbet azerbaycan mobile.

    Через браузер ситуация тоже неидеальная: веб-версия иногда тормозит.

    На этом сайте уже встречал похожие жалобы.

    В этот уже встречал пару похожих вопросов.

    Меня особенно заинтересовала тема “”.

    Moderator, если у тебя был похожий сбой, подскажи, что в итоге сработало.

    Буду признателен за понятный совет без лишней теории.

    Спасибо всем, кто откликнется.

  • ZOOLANDIA says:

    Greetings from Idaho! I’m bored to death at work so I decided to check out your blog on my
    iphone during lunch break. I enjoy the info you provide here and can’t wait to take
    a look when I get home. I’m amazed at how quick your blog
    loaded on my cell phone .. I’m not even using WIFI, just 3G ..
    Anyways, great blog!

    Stop by my page: ZOOLANDIA

Leave a Reply

error: Content is protected !!