1. The Transport Operator shall issue the Lorry Receipt at CARRIERS’S RISK only.
2. Where a Bank has agreed to accept this Lorry Receipt as a consignee / endorsee or holder thereof or any any other capacity for the purpose of giving advances to and/or collection or discounting bills of any of its customers whether before or after the entrustment of the goods to the Transport Operator for carriage, the Transport Operator hereby agrees, in consideration of the same, to hold itself liable and shall be deemed to have held itself liable at all material times, directly to the Bank contained with the right of recourse against Transport Operator to extent of the full value of the goods handed over to the Transport Operator for carriage, storage and delivery
3. The Transport Operator undertakes to, and shall, deliver the goods in the same order and conditions as received subject to any deterioration in the condition of goods resulting from natural causes like effect of temperature, weather conditions, etc. to the consignee Bank or to its order or its assigns on this Lorry Receipt being surrendered duly discharged by the Bank or duly discharged by the holder of this Lorry Receipt along with a letter from such Bank authorizing delivery of the goods. Only the Bank and the holder of the receipt entitled to delivery as aforesaid shall have right of course against the Transport Operator for all claims arising thereon.
4. The Transport Operator shall have the right to entrust the goods to any other Lorry or service for transport. In the event of the goods being so entrusted by the Transport Operator to another carrier, the other carrier shall as between the consignor, the Consignee Bank and the Transport Operator be deemed to be the Transport Operator’s agent so that the Transport Operator shall, notwithstanding the delivery of the goods to the other carrier, continue to be responsible for the safely of the goods and for their due delivery at the destination.
5. The consignor shall be primarily liable to pay the transport charges and all other incidental charges, if any, at the Head Office of the Transport Operator or at any other agreed place.
6. The Transport Operator shall have the right to dispose of perishables lying undelivered after 48 hours
7. The Transport shall have the right to dispose of other goods after 30 days of arrival, after giving to the Consignor, the Consignee Bank and the holder interested at least a minimum of 15 days notice of such disposal of goods.
8. In case falling under Clause of 6 or 7 above, the Bank or claimant and with Bank’s authority shall be entitled to the proceeds, less freight and demurrage, and the Transport Operator shall render full accounts to it/him immediately sale.
9. The Consignee Bank accepting Lorry Receipt under clause 2 above will not be liable for payment of any charges arising out of any lien of the Transport Operator against the consignor or the buyer. Where under the IBA Scheme for Recommending Transport Operators to Member Banks. It becomes necessary for any Bank to obtain delivery of the consignment from the Transport Operator (because the buyer does not retire the documents or because of any other reason), the Transport Operator shall deliver the goods unconditionally to the Bank on payment of the normal freight and storage charges only in connection with the consignment in question, without claiming any lien on the goods in respect of any monies due by the consignor or the consignee to the Transport Operator on any account whatsoever.
10. Not with standing any statement made in this lorry Receipt or any circumstances surrounding the issue of this Lorry Receipt, the Transport Operator shall at all times observe its obligation to the Consignee Bank named in this Lorry Receipt and shall be responsible for safe and due delivery, and for any loss or damage to the goods or consignment, that arises as a result of negligence, default, failure to take reasonable precautions, malafides or criminal or fraudulent actions, Employees, Partners, Directors, Business Associates, Branches etc.
11. The Transport Operator shall preserve Lorry Receipts and other records at least for a period of three years. Wherever, fraud is detected or action is initiated, then the record has to be preserved till the matter os settled.
12. The consignor is responsible for all consequences of any incorrect or false declaration.
13. Where the goods have been lost, destroyed damaged or have deteriorated, the compensation payable by the Transport Operator shall not exceed the value declared.
14. Nature, contents, conditions and value of the consignments as declared by the Consignor to the Transport Operator are specified in this Lorry Receipt. The Transport Operator carriers the goods as packed at Carrier’s Risk, a special rate of Rs. _____________for every hundred rupees of value declared by the Consignor having been charged and paid.
I hereby solemnly declare to the Transport Operator and all concerned that the particulars of the consignment mentioned in the Lorry Receipt are true and correct and correspond to the entries and descriptions in out book of accounts and other related documents in our possession of control.
