The Institute of Chartered Shipbrokers revises its standard trading conditions

The Institute of Chartered Shipbrokers (ICS) has updated its standard trading conditions. The new 2002 version received the approval of the Institute’s Federation Council in September 2002 and will be circulated for use by company members and individual members operating for their own account from October 2002.

The new version covers both ship agency and freight forwarding activities, but gives company members the option to include their forwarding activities (or not,as they may so decide). The 2002 standard trading conditions supersede the 1993 conditions which will be withdrawn from use upon issue of the 2002 version.

ITIC was pleased to provide assistance and advice to the ICS in formulating the new wording, and recommends their use by ICS members.