News & Events

The Notice of Readiness (NOR) clause in a previous fixture may not have the same effect if used in a new fixture.  Shipbrokers should bear this in mind when copying wordings from previous fixtures says the International Transport Intermediaries Club (ITIC).

Due to COVID-19, ITIC is often asked what a ship manager's liability is in situations such as crew being unable to clear through port immigration as a result of the various port restrictions we now see, and in particular, if such circumstances form a force majeure event. In this article, Robert Hodge discusses delivering on your crew against the backdrop of COVID-19.

ITIC is hosting a 'coffee and a catch up' webinar for insurance brokers on Thursday 14th May. 

When intermediaries are involved in complex projects, it is important that they fully understand how the legal relationship with suppliers is created. This will avoid someone who means to contract as an agent from unwittingly being liable as a principal.

A business loss prevention checklist in the time of Coronavirus...

During these unprecedented times, the International Transport Intermediaries Club (ITIC) recommends that brokers should consider stressing the current unusual market conditions in their ship valuation certificates.

As the world continues to face lockdowns due to the Coronavirus outbreak the International Transport Intermediaries Club (ITIC) has issued advice that warns port agents of issues with receiving original bills of lading.

ITIC would like to remind all air charter brokers of the importance of checking - and double-checking - that all charter contracts with the flying customer are on a fully back-to-back basis with the operator’s terms. This is all the more important during this time of unprecedented restrictions on travel, both domestic and international.

During this extraordinary time of lockdowns around the world, there will be issues with receiving the original bills of lading.  Port agents may be asked by consignees to deliver goods to them without providing a bill of lading in return. 

In the aftermath of the financial crisis of 2008 brokers providing valuations included additional wording in their certificates reflecting the state of the market. These generally pointed out  that the lack of comparable sales made the assessment of values uncertain.