Interclub Agreement 2011

In order to encourage the application and integration of the 2011 agreement to all NYPE/Asbatime charter lots, the circular issued in May 2016 referred members to a recommended charter party clause, developed by the International Group of P-I Clubs. The recently published NEWPE 2015 Charterparty contains a similar clause that also encourages the application and use of the 2011 agreement and is equally acceptable. In order to further promote the application and inclusion of the 2011 agreement in all charterparties/nype, The International Group of P-I Clubs has developed a „Cargo Claims“ charter clause, which provides that the 2011 agreement does not apply to charter parties concluded before September 1, 2011 or to rights arising from those lots, regardless of whether these rights arise before or after September 1, 2011. However, the contracting parties may expressly decide to include the 2011 agreement reached before that date in the chartered lots and apply them to the rights arising from those charter lots. As the new agreement will come into effect on September 1, 2011, we recommend that you include it in all NYPE and Asbatime charter lots. As a result, the International Group amended the wording of the recommended Charter clause, adopted in 2016, to reflect this recent conclusion and to end the 2011 security requirement. The amended recommendation clause reads: „Freight claims between owners and charterers will be settled in accordance with the Inter-Club New York Produce Exchange Agreement 1996 (as amended in 2011) or any modification or replacement at a later date. This clause prevails over all other clauses or clauses of this charter party that purport to include any other version of the Inter-Club New York Produce Exchange Agreement in this charter portion. BIMCO recommends that the 2011 agreement apply to all lots and rights of the NYPE/Asbatime charter resulting from these charter lots when they are concluded and include the 2011 agreement or another version of the Inter-Club New York Produce Exchange Agreement. The new „security provision“ is contained in Clause 9 of this 2011 agreement. The International Group recommended that its members explicitly include the 2011 agreement in all lots chartered on or after the NYPE and Asbatime forms concluded on or after September 1, 2011.

The amendments to the 1996 agreement should be welcomed, based on previous experience in obtaining security for cargo applications, as they will significantly reduce the time and cost of dealing with security issues.