Clause Paramount

In ADMIRALTY LAW, a statement required by federal law to be included in any bill of lading, which evinces a contract for the transportation of goods by sea from U.S. ports in foreign trade.

The statement provides that such bill is subject to the provisions of the Carriage of Goods by Sea Act (46 U.S.C.A. § 1300 et seq. [1936]), the federal legislation that governs the rights, obligations, and liabilities arising out of the relation of issuer to holder of the ocean bill of lading, in regard to the loss or damage of goods.