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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

  • MarlonLox says:

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  • single_fgOt says:

    Right — been using this thing for about six months now and it’s basically bookmarked at this point, reckon I’d write something up since a mate asked me a few days back. Am in the UK, mostly stick to footie and the horses, a fiver here and there, so take it how you like.

    The reason I started using it was actually embarrassing — I could never figure out what an each way payout actually came to once you get five places instead of three. I’d just guess and get a shock. Now I stick my stake in before every slip, even the boring singles.

    The single bet calculator is the bit I’m on daily — you put in the price and your stake and you get the return with no faffing, fractions or decimals. Same tool covers the multiples — trebles maths, lucky 15s, a yankee, honestly that’s where I always mess it up. If you fancy a poke about, it lives at single returns calculator — free, no signup.

    What actually shifted things for me was the geekier bits. The probability calculator which shows you the overround, and there’s the kelly criterion tool — I stick to fractional kelly as the full version is terrifying. Dutching calculator is handy too if I’m splitting a race.

    Couple of gripes. The layout is very functional, let’s say — not much polish, which honestly I don’t mind but some will. Phone-wise it’s fine although the acca grid make you pinch and zoom. And no proper app, it’s a website and that’s it — fine by me but you asked.

    So yeah. Costs nowt, no ads shoved in your face, works. If you honestly works out returns on a calculator app, give it a go — saved me a load of “wait, that’s it?” moments.

  • single_jopr says:

    Right — have been messing about with this thing for about six months now and I keep coming back, reckon I’d say something since someone asked me a few days back. I’m in the UK, generally do football and horses, small stakes, so take it how you like.

    The reason I started using it was actually embarrassing — I never could work out what an e/w return actually was once you get five places instead of three. I’d just wing it and get a shock. These days I type the odds in before every slip, even the boring singles.

    The single bet calculator tool is the part I use most — type in stake and odds and you get the return with no faffing, fractional or decimal, doesn’t matter. It also handles the multiples — acca and treble maths, lucky 15s, patents and yankees, and that’s where I’d always mess it up. If you fancy a poke about, it’s over at yankee calculator bet and it’s free with no account nonsense.

    The thing that really changed how I bet were the geekier extras. The odds-to-probability converter that shows what margin’s baked in, and there’s the kelly calculator — I stick to fractional kelly because full kelly is far too aggressive. The dutch tool gets used a fair bit if I’m covering two or three runners.

    Not all sunshine though. The layout is pretty plain — no polish, looks like it was built by someone who cares more about maths than colours. On my phone it’s fine but the acca grid are a squeeze. There’s no proper app, just the site — slight shame but worth saying.

    Anyway. Doesn’t cost anything, no ads shoved in your face, works. If you still works out returns on a calculator app, have a look — saves me a load of arguments with the bookie.

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    فتح الحساب مش معقد، وأقل إيداع في المتناول — من 1 دولار تقريبًا. طرق الشحن بيدعم فيزا وماستركارد، محافظ إلكترونية، وعملات رقمية وده اللي بستخدمه أنا. السحبة اللي فاتت جالي في نفس اليوم بالـبيتكوين، إنما بالفيزا استنيت يومين.

    بخصوص الأندرويد الوضع كويس — تنزيل التطبيق بيتم من موقعهم مباشرة ومحتاج تفعل تثبيت المصادر غير المعروفة. النسخة الجديدة بيجيلك إشعار والحمد لله. السبورت شات مباشر 24 ساعة بس ساعات بيردوا بإنجليزي الأول. الترخيص من كوراساو وده اللي متعارف عليه في المنطقة، يعني خليك واعي وحط ليمت لنفسك.

  • Тирзетта — инновационный препарат, подробнее о котором можно узнать здесь: таблетки фенибут.
    Компоненты тирзетты охватывают широкий спектр организмов, влияющих на структуру и функции системы.

  • single_vzSn says:

    Right — been using this thing for maybe five months now and I keep coming back, so thought I’d write something up since someone asked me the other day. I’m UK based, mostly stick to footie and the horses, small stakes, for context.

    How I found it was honestly a bit daft — I never could work out what an each way payout actually came to once you get five places instead of three. Basically I’d eyeball it and moan when the payout landed. Now I punch the numbers in before every slip, even a straight one-selection punt.

    The single bet calculator is the bit I open most — you drop in your stake, the odds and it shows profit and total return with no faffing, fractions or decimals. It also handles the fiddly ones — trebles returns, lucky 15 and lucky 63, patents and yankees, which is where I always got it wrong. If you want a look, it lives at bet odds converter — free, no signup.

    What actually changed how I bet were the geekier tools. There’s an odds-to-probability thing and it makes obvious what margin’s baked in, and a kelly staking calculator — I use half kelly because full kelly is far too aggressive. The dutching one gets used a fair bit for when I’m spreading across selections.

    Couple of gripes. Its layout looks very functional, let’s say — no flash, it’s clearly function over form. On mobile it’s fine although the lucky 63 breakdown need a bit of scrolling. And nothing on the app store, just the site — fine by me but you asked.

    Right, that’s me. Costs nowt, barely any ads, does the job. If you even now does the maths on paper, give it a go — saved me plenty of “wait, that’s it?” moments.

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