Inter Club Agreement 1996 Pdf

Inter-Club New York Produce Exchange Agreement 1996 (91 KB) Under this new provision, once one of the parties to the charter party has established a guarantee for a right to freight, provided that the deadlines set out in Clause 6 of the agreement have been met, there is a right to the guarantee on the basis of reciprocity. The new “security provision" is contained in Clause 9 of this 2011 agreement. As the new agreement will come into effect on September 1, 2011, we recommend that you include it in all NYPE and Asbatime charter lots. “Freight claims between owners and charterers are fully regulated, secured, shared and paid in accordance with the provisions of the Inter-Club New York Produce Exchange Agreement 1996 (as amended in 2011) or subsequently amended or replaced. This clause prevails over all other clauses or clauses of this charter party that purport to include any other version of the Inter-Club New York Produce Exchange Agreement in this charter party. A major revision of the inter-club agreement will come into force on September 1 of this year. Our club publishes a circular with the other group clubs to inform members of this change. No-fault liability under the Inter-Club Agreement (ICA) However, a recent declaration of arbitration from London raised concerns on the part of the International Group, with the court finding that the charter clause contained only the liability provisions of the ICA and not the obligation to commit the guarantee, as provided for in paragraph 9 of the 2011 agreement. The Inter-Club New York Produce Exchange Agreement, commonly known as the Inter-Club Agreement (ICA), has provided a relatively simple mechanism for a quick and fair distribution of liability for cargo applications under the New York Produce Exchange Form (NYPE) or Asbatime Charterparties. It may also apply to transportation contracts that have been approved under such charter parties. The objective of the ICA is to avoid lengthy and costly litigation on liability and distribution issues and instead to ensure a “gross and finite" distribution of liability between the parties.

Clubs recommend that their members accept the agreement for the allocation of liability for cargo claims that arise in the context, initially or in connection with all parties to the charter on Form NYPE 1946 or asbatime Form 1981, whether or not that agreement was included in these charter parties. Unless the ICA is expressly included in the charter part, it cannot be applicable. In order to encourage the application and integration of the 2011 agreement to all NYPE/Asbatime charter lots, the circular issued in May 2016 referred members to a recommended charter party clause, developed by the International Group of P-I Clubs. All international group member clubs have issued a similar circular.

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