In 1994, the International Safety Management (ISM) Code was incorporated into the SOLAS Convention. SOLAS (SAFETY OF Life at Sea) prescribed rules for construction of ships, their equipment and standard operating procedure to ensure greater safety of human lives. From 1st July 2002 ISM code is mandatory for almost all types of vessels. From the Maine Cargo stand point the policy will not cover cargo carried in a vessel which not ISM Code complaint at the time of loading of the cargo provided the insured was aware or as a prudent business man should have been aware that the vessel was not ISM Code compliant. However, this not impacts the right of a person claiming under this insurance who has bought the goods in good faith and is assigned this policy.