1175 results:

Ask the Editor

Ask the Editor

I have been asked to go to a mediation. Do I have to go – and what is it? Thanks for this question, and it is something we are regularly asked. I am actually a big fan of the mediation process and

Lay-up contracts

ITIC has seen a sharp increase in the number of lay-up contracts that we have been asked to review. Some of these lay-up agreements are based on an amended ship management contract where the manager

Aircraft Designer

Aircraft Designer

Manufacturing problems always end up on the designer’s desk A designer of light aircraft was asked by an aircraft builder to design a single turbo prop aircraft, which was to be used for an air

Helicopter hiccup

Helicopter hiccup

The charterer needed to land a helicopter on the yacht as part of the filming requirements. Unfortunately, the yacht’s helicopter operations certification was out of date. At the time a compromise

Release of cargo without original Bill of lading and against indemnity

The ship agent took delivery of a container of nickel silver scrap valued at US$ 34,222.80 on arrival at Calcutta from Kaohsiung.  Shortly after arrival the consignee, a sole trader, called at

Liability of marine surveyor

A marine surveyor received a telephone call from a marine insurance broker requesting the survey and valuation of a 17 year old yacht for insurance purposes.  He was told that the yacht had just

Time waits for no claim

The loading of a ship was delayed, as a result of which the owners had a claim against the charterers under the terms of the charterparty for demurrage of around EUR 70,000. The charterparty

Option omission

Option omission

Ship brokers fixed a charter party that contained an option for a second voyage. They failed to pass on the charterer’s message declaring the second leg option which had to be declared upon

Feeling the heat

Feeling the heat

Following the discharge of the cargo from a ship a shipbroker was presented with an invoice for heating expenses amounting to US$ 70,000 by the owners to be passed on to the charterers. However, the

War! (risk premium) - Who is it good for? Absolutely not the broker if they forget to pass on the quote

War! (risk premium) - Who is it good for? Absolutely not the broker if they forget to pass on the quote

A tanker was fixed for a voyage. The voyage included an option to call at an additional war risk premium (AWRP) area. As per the terms of the charter party the charterer was liable to pay the AWRP if