5 Questions
What is the purpose of MCC No. 691?
To provide instructions for settlement of railway claims in respect of third party wagons taken delivery by FCI
What is the responsibility of FCI as per the standing instruction and the indemnity bond executed?
To pay to the Railways the claim payable or paid by the Railways to the third party less for loss, damage, shortage etc.
What happens if the outer condition of the wagon concludes the ownership of the third party?
The FCI shall not take delivery
What happens if the ownership of the consignment is still not established after opening the wagon and the Railways insist on delivery?
The delivery may be accepted by giving an undertaking for reimbursement of the actual sales realization at issue price or the amount of claim whichever is less
Under what circumstances can the Railway and the third party agree for the replenishment of actual quantity and commodity taken delivery instead of compensation?
If they submit a written request to the Regional/Sr. Regional Manager and provide unconditional undertaking that they will not involve the FCI in any dispute in regard to settlement of Claim pertaining to the consignment in question
Study Notes
MCC No. 691
- MCC No. 691 is a special procedure to deal with unclaimed and unclear consignments.
FCI's Responsibility
- FCI is responsible for ensuring that the documents are complete and correct as per the standing instruction and indemnity bond executed.
- FCI is liable for any errors or discrepancies in the documents.
Ownership of Consignment
- If the outer condition of the wagon concludes the ownership of the third party, the Railways will not be responsible for the consignment.
- The ownership of the consignment will be established based on the outer condition of the wagon.
Delivery of Consignment
- If the ownership of the consignment is still not established after opening the wagon, the Railways may insist on delivery.
- In such cases, the consignment will be delivered to the party claiming ownership, and the Railways will not be liable for any discrepancies.
Replenishment of Actual Quantity
- The Railway and the third party can agree for the replenishment of the actual quantity and commodity taken delivery instead of compensation under certain circumstances.
- This is possible if the quantity and commodity are verifiable and agreed upon by both parties.
"Test Your Knowledge: Settlement of Railway Claims for Third Party Wagons by FCI" - Take this quiz to see how well you understand the instructions and indemnity bond requirements for settling claims related to third party consignments delivered to the FCI. Brush up on your knowledge of MCC No. 108, 287, 347, 363, 397, 464, 637 and 655, and learn more about the settlement process for railway claims. Keywords: railway claims,
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