HELP US TO HELP YOU!
NOTIFY THE CLUB SOON - the older a debt, the harder it is to collect especially if the ship is sold or the debtor bankrupt. In some countries the statutory time limit for collecting a debt is as little as six months.
PROVIDE APPROPRIATE DOCUMENTATION
From ship brokers the Club needs:
- commission invoice
- copy of charterparty
From ship agents the Club needs:
- copy of disbursement account
From both parties we need copies of any correspondence with the debtor, particularly any communication where the debt is admitted.
GIVE US THE FULL STORY - If your principal is disputing any of the charges let us know. Disputes normally have to be resolved before debts can be collected.
ARRESTS WILL BE IN YOUR NAME - f it is necessary to arrest a ship or a bank account any counter-security will have to be provided by you. The Club will pay the legal costs.
DO NOT APPOINT LAWYERS WITHOUT THE PRIOR APPROVAL OF THE CLUB UNLESS IT IS AN EMERGENCY - 50% of debts are recovered without involving lawyers. The Club has a large network of contacts worldwide - we usually know the right person for the job.
PROVIDE OWNERS'/CHARTERERS' BANK ACCOUNT DETAILS - We have had some success in seizing bank accounts.
NO ADVANCE FUNDS? SHIP READY TO SAIL? Notify the port authority or tug company that you have not been placed in funds and will not be able to pay them.
DO YOU HAVE TRADING CONDITIONS WHICH ALLOW YOU TO CHARGE INTEREST? Tell us, we will try to recover interest as well.
NOTIFY US AS SOON AS FUNDS ARE RECEIVED
ITIC is the world's leading insurer of the risks facing transport intermediaries.
copy of original appointment/agency agreement