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A sale and purchase broker had acted for the Scandinavian sellers of a small cruise ship. An Australian company had signed a Memorandum of Agreement but had failed to pay the deposit or take any…

Members may come under pressure to collude in a fraud, particularly by issuing bills of lading which contain incorrect information, often to comply with the terms of a Letter of Credit. We mean the…

Three containers of electrical goods worth US$380,000 were shipped from the Far East to South Africa, and from there by rail to another African country. The agent at the discharge port released all…

An employee of 20 years standing used the customs bond of a Belgian ship agent to smuggle consignments of T-shirts of Chinese origin into the European Union. The T-shirts, which had arrived in…

During a routine external audit, a South American ship agent discovered that part of the freights collected from shippers on behalf of a principal had not been deposited in the agent's bank account.…

Fraud, and particularly documentary fraud, is becoming increasingly sophisticated and even with the best systems in the world may not be detected. However, most of ITIC's Members are agents (in one…

Staff give staff proper training. give staff adequate remuneration. provide sufficient staff - overworked staff are less observant. check references for new staff. check that qualifications are…

A ship passed through the Suez Canal, and the agent's principal, a Canadian charterer who he had acted for on several previous occasions, confirmed that the transit fees of US$100,000 payable to the…

A tanker broker, who had moved from a large firm to a smaller one, was pleasantly surprised when a charterer client of his former employer approached him asking the broker to take over his…

When one of the branch offices of a multinational ship agent contacted the Club in respect of a large outstanding disbursement account, the ship concerned was tracked and arrested. The owners paid up…