Interclub Agreement 1996 Pdf

Interclub Agreement 1996 Pdf

Inter-Club New York Produce Exchange Agreement 1996 (91 KB) “Freight rights between owners and charterers are subject to the provisions of the Inter-Club New York Produce Exchange Agreement 1996 (as amended in 2011) or any subsequent modification or replacement of the inter-Club New York Produce Exchange Agreement 1996 (as amended in 2011) or any subsequent modification or replacement of the inter-Club New York Produce Exchange Agreement 1996 (as amended in 2011) or any subsequent modification or replacement of the inter-Club. 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. 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. The new “security provision” is contained in Clause 9 of this 2011 agreement. Under this new provision, as soon as one of the parties to a 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, the right to guarantee is based on reciprocity. 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. As a result, the International Group amended the wording of the recommended Charter clause, adopted in 2016, to reflect this recent conclusion and to end the 2011 security requirement. The amended recommendation clause is: Non-fault liability under the Inter-Club Agreement (“ICA”) The objective of the ICA is to avoid long-term and costly liability and distribution disputes, and instead to ensure a “gross and ready” 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. However, a recent arbitration proceeding in London raised concerns within the International Group, as the court found that the charter clause contained only the liability provisions of the ICA and not the guarantee obligation provided for in point 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. A major revision of the inter-club agreement will come into force on 1 September this year.