While the broker is away ...


  • Date: 01/03/2010

In 1993, a shipbroker had a receptionist who filed a demurrage claim into the fixture file without notifying the post fixture staff of its existence. The shipbroker incurred a demurrage claim. Since that date; the company has been rigorous in controlling its demurrage systems and procedures. ITIC is asked on a regular basis to inform the staff of the potential claims that could be made against them and where to ensure they limit or reduce the company’s exposure.

Some years later, the shipbroker received a claim. The individual broker, to whom it was sent, was absent and the claim remained on his desk and was forwarded to the charterers after the time bar had expired. On his return the shipbroker was alerted to the oversight and brought it to the attention of ITIC. The claim amount was USD 50,000 and ITIC indemnified its member.

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