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Bottomry bond is a contract where the ship and cargo is given security in an emergent situation to raise loan for the sake of completing the voyage.

The following differences between land transport and water transport can be drawn:

Modern international transport takes place through ocean and as such ocean transport has occupied a significant position in foreign trade.

The liability of a Public carrier are governed by both Indian and English laws. The carrier is relieved from paying loss for the goods in the following cases:

A carrier other than the government which carry goods as a business for money without discrimination of different consignors is known as a public carrier.

From the definition of a public carrier, it is evident that a public carrier will carry goods of all persons without any discrimination.

A carrier denotes a person or group of persons who undertake goods or passengers from one place to another.

The following procedure are followed when goods are transported through railways:

Railway transport occupies a significant role in the transport system of a country because the development of trade, industry and commerce of a country largely depends on the development of railways.

The following are the broad advantages of motor transport:

A warehouse licensed to keep imported goods awaiting clearance because of non-payment of custom duties is called a bonded warehouse.

There are different kinds of warehouses and the classification of warehouses can be made from the following viewpoints:

Storage is an important function of any business and it is an inseparable element of trade. It involves keeping a quantity of goods for use when required.

A warehouse is an establishment for the storage and accumulation of goods. It is highly specialized function that plays a vital role in modern business.

Warehousing aids in equalizing supplies over a period of time. It renders invaluable service to community by performing important functions which are given below:

Warehouse perform a number of functions. These are: