Analysis On The Right Of Control Under The Rotterdam Rules And The Impacts On The Bank

In order to guarantee the proceed of international goods trade and marine transportand balance the benefits of all parts, on December11thin2008, the United NationsConvention of Goods Wholly or Partly by Sea was passed by the General Assembly,wishing to deal with the problems during the international carriage of goods by sea andadapt to the new needs of the development of international shipping. Compared with thepast conventions on the goods shipping on the sea, the Rotterdam Rules are morecreative, and one of the most innovative points is the establishment of the Right ofControl which will influence all parts of international shipping. The Right of Control isstipulated in chapter10systematically and integrally. The bank, as the supporter ofinternational clearing and financing, is an important part during the process offulfillment of contract of carriage of goods by sea. The changes of conventions ofinternational maritime transport of goods will inevitably influence the bank directly orindirectly.In Chapter10of the Rotterdam Rules, the identity of the controlling party andtransfer of the right of control, the obligation of the controlling part, exercise and extentof the right of control, carrier’s execution of instructions, variations to the contract ofcarriage are all stipulated specifically. As a significant regime innovation, the right ofcontrol has its own structure and value. With regard to the bank, the new rule mustinfluence its old work mode. In terms of the positive influences, it can reduce theoccurrence of delivery of goods without original bill of lading, empower more relievingrights to the bank, and adapt to the new needs of the development of bills. But at thesame time, it also has some negative effects to the bank in the aspect of the acquisition,the exercise, and the abuse of the right. In the end of the thesis, the writer proposesseveral suggestions to solve these problems, hoping the bank can take the opportunityand rise to the occasion and maintain its own interests better.