As a matter of fact, the document which has been developed to resolve the obvious conflicts between the interests of buyer and seller is the bill of lading. The bill of lading provides the seller with some security against default by the buyer and the buyer with some assurance of performance of the seller before the buyer is required to make payment. So to speak, the B/L provides some extent protection for both seller and buyer. This is a study on the construction of Liner Bill of Lading(Code name : CONLINEBILL) adopted by BIMCO(The Baltic and International Maritime Conference) and is using a basic bill of lading in the liner ship's operation. In this study, the writer makes a wider and deeper study of rights and obligations of Contract Parties by means of the rules of construction, specially focusing the Carrier's liability under Carriage of Goods by Sea Act 1971(COGSA 1971), Hague-Visby Rules and Korea Commercial Law.

Since 1979, the People's Republic of China has been opeining their marke tprogressively toward all over the world for developing its own domestic economy and international trade. China also has paid a great attention to the international maritime transport due to the fact that its volume of international trade has increased continuoulsy. Under such circumstance, the Chinese Maritime Code was issued in 1992 in which the regulation with regard to carrier's liability occupied an important position. The author, therefore, selected this issue for demonstration of the legal proinciples about carrier's liability which is provided in the Chinese Maritime Code. The study on the issue is under guidance of related international conventions. On the basis of the above, the differences between the Code and relevant conventions have been pointed out in order to make the people in the field of shipping understood for legal system with regard to carrier's liability in China which is a great potential partner of Korea in shipping and trade.

The international trade is basically founded on the contract of international sale of goods and backed up by the contract of international carriage of goods and the contract of insurance in the goods carried. For the efficient development of international trade, it is essential to incorporate the above three fields closely together. Economic growth has developed international trade which has accelerated the development of international carriage of goods. As a result of rapid expansion of international carriage of goods, rationalization of transport was required, which has brought about the International Multimodal Transport System(herein after referred to as 'IMT') through containerization. International multimodal transport system has affected international trade a lot, especially the field of insurance a great deal. The aim of this paper is to analyze contents of Multimodal Transport Operator's(MTO's) liability system in the UN Convention on International Multimodal Transport of Goods, 1980 and FIATA Bill of Lading(FBL) as one of current Multimodal Transport Documents. The analysis of MTO's liability system will be a good introductory concept for the further study of insurance problems for the development of IMT.