Ship broking errors can be made as fast as negotiations can be conducted. The immediacy of electronic communication can often lead to expensive mistakes since detail may be missed in the haste, often driven by other parties, to close deals.
Whilst it may be self-evident that the fail-safe approach to errors is to cross and cross-check; time pressures can often create less than perfect conditions for operational excellence.
Examples of errors that might be encountered include:
- misdirected demurrage statements - letter sent to wrong address; demurrage time-bar missed;
- vessel or cargo wrongly described - incorrect dimensions, specification or quantity;
- negotiation errors - failure to pass on the details of an offer;
- negligent statements;
- offer sent to the wrong email address;
- breach of warranty of authority;
- acting for a non-existent principal.
We’ve seen the problems before and we are here to help you.
Ship broking errors can be made as fast as negotiations can be conducted.
Keeping on an even keel: claims against naval architects, a webinar hosted by ITIC in association with RINA.
For over 25 years ITIC has provided insurance to naval architects and currently insures over 350 companies offering naval architecture services globally. As such, the team at ITIC has a deep understanding of both the risks faced by naval architects and the delicate balance of the commercial relationship with their clients. During this half an hour webinar ITIC’s Robert Hodge and Mark Brattman provide their insight on the types of claims faced and how to avoid or minimise such liabilities. Topics covered during the webinar include: copyright infringement, design related claims and contracts.