Agent offers to settle claim in wrong currency

A liner agent in France acted for one partner in a joint service from North America to Northern Europe.  In their capacity as agents for the joint service partner the agents received a claim from the insurers for wet damage to a cargo of rolls of newsprint carried from Vancouver to Le Havre covered by their principal's Bs/L.  The carrying vessel did not belong to the agents' principal and the claim documents were therefore sent to the shipowners' representative who authorised settlement of the claim under package limitation at Canadian $500 per package.  The agents erroneously offered US$500 per package, which was accepted by the cargo insurers.  The shipowners were only willing to provide funds to settle on the basis of the Canadian $ offer and the Members had to provide the remaining US$10,000.

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