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(1) Subject always to the Carrier’s right to limit liability as provided forherein, if the Carrier is liable for compensation in respect of loss of ordamage to the Goods, such compensation shall be calculated by referenceto the value of the Goods plus Freight and insurance if paid. The value ofthe Goods shall be determined by the lowest price with reference to thecommercial invoice, customs declaration, any prevailing market price (atthe place and time they are delivered or should have been delivered),production price or the reasonable value of goods of the same kind and/orquality.(2) Save as is provided in clause 8(3):(a) this Bill of Lading shall be subject to the provisions of the law asprovided for in Clause 27(1). The Carrier shall in no event be or becomeliable for any loss or damage to or in connection with Goods in any amountexceeding the limits in an amount equivalent to 666.67 SDR per packageor other shipping unit, or 2 SDR per kilogramme of the gross weight of theGoods lost or damaged, whichever is the higher, unless Clause 8(2)(b)applies;(b) where carriage includes carriage to or from or through a port or placein the United States of America, this Bill of Lading shall be subject to theprovisions of U.S. COGSA, as provided for in Clause 27(2) hereof. In suchevent, the Carrier shall in no event be or become liable for any loss ordamage to or in connection with Goods in any amount exceeding the limitsin an amount USD 500 per package or, when the Goods are not shipped inpackages, USD 500 per customary freight unit. In any event, the Carrier’slimitations of liability in respect of inland loss or damage shall be no higherthan that of the underlying Carrier.(3) The Merchant agrees and acknowledges that the Carrier has noknowledge of the value of the Goods and higher compensation than thatprovided for in this Bill of Lading may be claimed only when, with the6 / 22

consent of the Carrier, the nature and value of the Goods have beendeclared by the Merchant before shipment and inserted in this Bill ofLading in the box of “Declared Cargo Value” and the Merchant has paidadditional Freight on such declared value. This declaration if embodied inthis Bill of Lading shall be prima facie evidence, but shall not be bindingor conclusive on the Carrier. The Carrier shall in no event be or becomeliable for any loss or damage to or in connection with Goods if the natureor value thereof has been misstated by the Merchant in this Bill of Lading.(4) Where a container, pallet or similar article of carriage is used toconsolidate Goods, the smallest number of packages or other shipping unitsenumerated in this Bill of Lading as packed in such article of carriage shallbe deemed to be the number of packages or shipping units. If not soenumerated, the Goods in such article of carriage shall be deemed to beone package or one shipping unit. Where the article of carriage is notowned or furnished by the Carrier, such article of carriage shall be deemedto be one package or one shipping unit.9. FIREThe Carrier shall not be liable for any loss of or damage to the Goodsoccurring at any time, including that before loading or after discharge byreason of any fire whatsoever, unless such fire is caused by the actual faultof the Carrier.10. CARRIER'S CONTAINERS(1) Goods received in break bulk will be stuffed by the Carrier inContainers and the Carrier shall have the right to carry any Containers,whether or not stuffed by the Carrier, on deck or below deck. All suchGoods shall participate in General Average, Salvage charges and/or specialcharges. The Terms and Conditions of this Bill of Lading, including theapplicable laws as provided for in Clause 27 shall apply to Containerscarried on deck.7 / 22

(2) If Carrier's Containers and equipment are used by the Merchant for precarriage or on-carriage or unpacked at the Merchant's premises, theMerchant is responsible for returning the empty Containers, with interiorsbrushed, clean and free of smell to the point or place designated by theCarrier, its servants or agents, within the time prescribed in the Tariff and/orrequired by the Carrier. Should a Container not be returned within theaforesaid time, the Merchant shall be liable for any detention, demurrage,loss or expenses which may arise from such non-return.(3) The Merchant shall be liable for any loss of or damage to Carrier'sContainers and other equipment while in the custody of the Merchant oranyone acting on the Merchant's behalf. The Merchant shall also be liableduring such period for any loss of or damage to the property of others orfor any injuries or death and the Merchant shall indemnify and hold theCarrier harmless against all damages, including legal expenses, incurredfrom any and all such claims arising during such periods.11. MERCHANT-STUFFED CONTAINER(1) If a Container has not been stuffed by or on behalf of the Carrier, theCarrier shall not be liable for loss of or damage to the Goods and theMerchant shall indemnify the Carrier against any loss, damage, liability orexpense incurred by the Carrier if such loss, damage, liability or expensehas been caused by:(a) the manner in which the Container has been filled, packed, loaded orstuffed, or(b) the unsuitability of the Goods for carriage in the Container, or(c) the unsuitability or defective condition of the Container, provided that,if the Container had been supplied by or on behalf of the Carrier, thisunsuitability or defective condition could have been apparent uponinspection by the Merchant at or prior to the time when the Container wasfilled, packed, loaded or stuffed.8 / 22

(2) If a Merchant-stuffed Container is delivered by the Carrier with its sealintact, such delivery shall constitute full and complete performance of theCarrier's obligations hereunder and the Carrier shall not be liable for anyloss or shortage of the Goods ascertained at delivery.(3) The Merchant shall inspect Containers before stuffing them and the useof a Container shall be prima facie evidence of its being suitable andwithout defect.12. MERCHANT'S DESCRIPTION(1) The Merchant's description of the Goods stuffed in a sealed Containerby the Merchant, or on its behalf, shall not be binding on the Carrier, andthe description declared by the Merchant on the front of this Bill of Ladingis information provided by the Merchant solely for its own use includingbut not limited to the use of its freight forwarder. It is understood by theMerchant that the Carrier has not verified the contents, weight ormeasurement of a sealed Container, and the Carrier makes norepresentation as to the contents of a sealed Container, van, crate or boxhereunder, nor its weight or measurement, nor the value, quantity, quality,description, condition, marks or number of the contents thereof. TheCarrier shall be under no responsibility whatsoever in respect of suchdescription or particulars.(2) If any particulars of any letter of credit and/or import license and/orsales contract and/or invoice or order number and/or details of any contractto which the Carrier is not a party are shown on the front of this Bill ofLading, such particulars are included at the sole risk of the Merchant andfor its convenience. The Merchant agrees that the inclusion of suchparticulars shall not be regarded as a declaration of value and shall in noway affect the Carrier's liability under this Bill of Lading. The Merchantacknowledges that, except as provided for in Clause 8 hereof, the value ofthe Goods is unknown to the Carrier.9 / 22

13. MERCHANT'S RESPONSIBILITY(1) The parties defined as Merchant in clause 1 hereof shall, whereapplicable, be jointly and severally liable to the Carrier for the duefulfillment of all obligations undertaken by any of them under this Bill ofLading.(2) The Merchant warrants to the Carrier that the particulars relating to theGoods as set forth on the front of this Bill of Lading have been checked bythe Merchant on receipt of this Bill of Lading and that such particulars, andany particulars furnished by or on behalf of the Merchant, are adequate andcorrect. The Merchant also warrants that the Goods are lawful Goods andare not contraband, drugs or other illegal substances or stowaways, and thatthe Goods will not cause loss, damage or expense to the Carrier, or to anyother cargo.(3) The Merchant shall indemnify the Carrier against all liabilities, costs,losses, damages, fines, penalties, expenses or other sanctions of a monetarynature arising or resulting from any breach of the warranties in Clause 13(2)hereof or from any other cause in connection with the Goods for which theCarrier is not responsible. The Carrier shall have the right to collectliquidated damages from the Merchant in accordance with its provisions.(4) If the Merchant's description of the Goods in this Bill of Lading or inany document or certificate furnished to the Carrier by or on behalf of theMerchant shall prove to have been inaccurate, incorrect or misleading inany respect, the Merchant shall be liable for all fines, penalties, chargesand expenses arising therefrom, and any loss and damage suffered by theCarrier.(5) The Merchant shall comply with all regulations or requirements ofcustoms, port and other Authorities, and shall bear and pay all duties, taxes,fines, imposts, expenses or losses (including the full return Freight for theGoods if returned, or if on-carried, the full Freight from the Port of10 / 22

Discharge or the Place of Delivery nominated herein to the amended Portof Discharge or the amended Place of Delivery) incurred and/or sustainedby reason of any failure to so comply, or by reason of any illegal, incorrector insufficient marking, numbering, or addressing of the Goods, and shallindemnify the Carrier in respect thereof.14. FREIGHT AND CHARGES(1) All Freight shall be deemed fully, finally and unconditionally earnedupon booking of the Goods by the Carrier and shall be paid and nonreturnable in any event whatsoever.(2) All Freight and charges shall be paid without any set-off, counter-claim,deduction, or stay of execution before delivery of the Goods.(3) The Merchant's attention is drawn to the stipulations concerningcurrency in which the Freight is to be paid, rate of exchange, devaluationand other contingencies concerning the Freight in the applicable Tariff oras agreed otherwise.(4) Payment of Freight and charges to any freight forwarder or broker, oranyone other than the Carrier or its authorized agent, shall not beconsidered payment to the Carrier and shall be made at the Merchant's solerisk.(5) The parties defined as Merchant in clause 1 hereof shall, whereapplicable, be jointly and severally liable to the Carrier for payment of allFreight, demurrage and detention, General Average, Salvage chargesand/or special charge,and charges, including, but not limited to, courtcosts, expenses and reasonable attorney's fees incurred in collecting sumsdue the Carrier, failing which shall be considered a default by the Merchantin the payment of Freight and charges.15. INSPECTION OF THE GOODSThe Carrier and/or any person to whom the Carrier has subcontracted thecarriage or any person authorized by the Carrier shall be entitled, but under11 / 22

no obligation，to open any Container or Package at any time and to inspectthe Goods. If by order of the Authorities at any place, a container must beopened for inspection, the Carrier shall not be liable for any loss or damageincurred as a result of any opening, unpacking, inspection or repacking.The Carrier shall be entitled to recover the cost of such opening, unpacking,inspection, and repacking from the Merchant.16. CARRIAGE AFFECTED BY CONDITION OF THE GOODSIf it appears at any time that the Goods cannot safely or properly be carriedor carried further, either at all or without incurring any additional expenseor taking any measure(s) in relation to the Goods or the Container, theCarrier may without notice to the Merchant (but as its agent only) take anymeasure(s) and/or incur any additional expense to carry or to continue thecarriage thereof, and/or dispose of the Goods, and/or abandon the carriageand/or store them ashore or afloat, under cover or in the open, at any place,whichever the Carrier in its absolute discretion considers most appropriate,which abandonment, storage or disposal thereof shall be deemed toconstitute due delivery under this Bill of Lading. The Merchant shallindemnify the Carrier against any additional expense so incurred.17. LIENSThe Carrier shall have a lien on the Goods and any documents relatingthereto for all sums payable to the Carrier under this contract and forGeneral Average, Salvage charges and/or special charges contributions towhomsoever due. The Carrier shall also have a lien on the Goods and anydocument relating thereto for all sums due by the Merchant to the Carrierunder any other contract whether or not related to this Carriage. The Carriermay exercise its lien at any time and any place in its sole discretion,whether the contractual Carriage is completed or not. In any event any lienshall extend to cover the cost of recovering any sums due and for thatpurpose the Carrier shall have the right to sell the Goods by public auction12 / 22

or private treaty, without notice to the Merchant. Nothing herein shallprevent the Carrier from recovering from the Merchant the differencebetween the amount due to the Carrier and the net amount realized by suchsale. The Carrier’s lien shall survive delivery of the Goods.18. DECK CARGO, ANIMALS AND PLANTSGoods (other than Goods stuffed in Containers) that are stated on the frontof this Bill of Lading as contracted to be stowed "on deck" and are socarried, and all live animals, including fish and birds, or plants shippedhereunder, shall be carried solely at the risk of the Merchant, and theCarrier shall not be liable for any loss or damage of whatsoever naturearising during carriage by sea whether or not arising out of negligence onthe part of the Carrier. The Carrier shall be bound to prove that he hasfulfilled the special requirements of the Merchant with regard to thecarriage of the live animals and that under the circumstances of the seacarriage, the loss or damage has occurred due to the special risks inherenttherein. The Merchant shall indemnify the Carrier against all or any extracosts incurred for any reason whatsoever in connection with the carriageof such live animals or plants.19. METHODS AND ROUTES OF CARRIAGE(1) The Carrier may at any time and without notice to the Merchant:(a) use any means of transport or storage whatsoever;(b) transfer the Goods from one conveyance to another includingtransshipment or carrying the same on another Vessel other than the Vesselnamed on the front of this Bill of Lading or by any other means of transportwhatsoever;(c) sail without pilots, proceed via any route, (whether or not the nearest ormost direct or customary or advertised route) at any speed and proceed to,return to and stay at any port or place whatsoever (including the Port ofLoading herein provided) once or more often, and in any order in or out of13 / 22

the route or in a contrary direction to or beyond the port of discharge onceor more often;(d) load and unload the Goods at any place or port (whether or not any suchport is named on the reverse hereof as the Port of Loading or Port ofDischarge) and store the Goods at any such port or place;(e) comply with any orders or recommendations given by any governmentor authority or any Person or body acting purporting to act as or on behalfof such government or authority or having under the terms of the insuranceon any conveyance employed by the Carrier the right to give orders ordirections.(2) The liberties set out in Clause 19(1) may be invoked by the Carrier forany purpose whatsoever whether or not connected with the Carriage of theGoods, including but not limited to loading or unloading other goods,bunkering or embarking or disembarking any person(s), undergoing repairsand/or dry docking, towing or being towed, assisting other vessels, makingtrial trips and adjusting instruments.(3) Anything done or not done in accordance with Clause 19 or any delayarising therefrom shall be deemed to be within the scope of the carriageand shall not be a deviation.20. MATTERS AFFECTING PERFORMANCEIf at any time the carriage is or is likely in the judgment of the Master to beaffected by any hindrance, risk, delay, difficulty or disadvantage of anykind, other than the inability of the Goods to be safely or properly carriedor carried further, and howsoever arising (even though the circumstancesgiving rise to such matters as stated above existed at the time this contractwas entered into or the Goods were received for shipment), the Carrier(whether or not the carriage is commenced) may, at its sole discretion andwithout prior notice to the Merchant:(1) carry the Goods to the contracted Port of Discharge or Place of Delivery,14 / 22

whichever is applicable, by an alternative route from that indicated in thisBill of Lading or from that which is customary for Goods consigned to thatPort of Discharge or Place of Delivery. If the Carrier elects to invoke theterms of this sub-Clause, then, notwithstanding the provisions of Clause 19hereof, the Carrier shall be entitled to charge such additional Freight as theCarrier may determine, or(2) suspend the carriage of the Goods and store them ashore or afloat uponthe Terms and Conditions of this Bill of Lading and endeavor to forwardthem as soon as possible, but the Carrier makes no representation as to themaximum period of suspension. If the Carrier elects to invoke the terms ofthis sub-Clause, then the Carrier shall be entitled to the payment of suchadditional Freight as the Carrier may determine, or(3) abandon the carriage of the Goods and place the Goods at theMerchant's disposal at any port or place where the Carrier may deem safeand convenient, whereupon the responsibility of the Carrier in respect ofsuch Goods shall entirely cease. The Carrier shall nevertheless be entitledto full Freight on the Goods received for shipment, and the Merchant shallpay any additional costs of the carriage to, and delivery and storage at suchport or place.Where the Carrier elects to use an alternative route under Clause 20(1) orto suspend the carriage under Clause 20(2), same shall not prejudice itsright subsequently to abandon the carriage.21. DANGEROUS GOODSAt the time of shipping Goods which are or which may become of adangerous, noxious, hazardous, flammable, or damaging nature (includingradioactive material) or which are or may become liable to cause damageor loss of any person, environment or property whatsoever, and whether ornot so listed in any official or unofficial, international or national code,convention, listing or table, the Merchant shall, in compliance with the15 / 22

regulations governing the carriage of such Goods, have the same properlypacked, distinctly marked and labeled and notify the Carrier in writing oftheir proper description, nature and the precautions to be taken. In case theMerchant fails to or inaccurately notifies the Carrier, or if in the opinion ofthe Carrier the Goods are or are liable to become of a dangerous, noxious,hazardous, flammable or damaging nature, they may at any time or placebe unloaded, destroyed, disposed of, abandoned or rendered harmlesswithout compensation to the Merchant and without prejudice to theCarrier’s right to Freight. The Merchant shall indemnify, hold harmless anddefend the Carrier, its servants, agents and Subcontractors and any thirdparty concerned, against all claims, liabilities, loss, damage, delay,personal injury and/or death, costs, fines and/or penalties, and allreasonable legal expenses resulting from such shipment and caused to theCarrier, the Vessel, any other cargo or property, whether on board or ashore,whether or not the Merchant was aware of the nature of such Goods.Notwithstanding the Carrier’s knowledge of the nature of the DangerousGoods and its consent to carry, the Carrier may still have such Goodslanded, destroyed or rendered innocuous, without compensation, whenthey become an actual danger to the Vessel, the crew and other persons onboard or to other goods. However, nothing contained in this Clause shalldeprive the Carrier of any of its rights provided for elsewhere, if any.22. SPECIAL, REFRIGERATED OR HEATED CONTAINERS(1) Unless the Merchant and the Carrier agree in writing before shipmentthat specially ventilated, refrigerated or heated Containers will be used toship the Goods and such agreement is noted on the front of this Bill ofLading, and the Merchant gives proper written notice to the Carrier of thenature of the Goods and of the particular temperature range to bemaintained and

1 / 22 TERMS AND CONDITIONS (Large Print Available on Request) 1. DEFINITIONS "C