Ship broking

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Ship broking claims examples

05/11/2010

Brokers required to sign formal undertakings as anti-corruption legislation bites

International Transport Intermediaries Club (ITIC) says that shipbrokers are being required to sign formal agreements with their principals in the light of a worldwide trend towards stricter anti-corruption legislation, and ahead...

22/09/2010

Brokers exposed to liability as a result of email shortcomings

International Transport Intermediaries Club (ITIC) says that shipbrokers run the risk of exposure to substantial liabilities as a result of inadequate monitoring of their email communications. In the latest issue of its Claims...

02/11/2009

ITIC warns brokers to be wary of 'first-class charters'

The International Transport Intermediaries Club (ITIC) has advised shipbrokers against using the term ‘first-class charterers’ when conducting fixture negotiations, following a claim made by shipowners against one of its broker...

17/05/2009

Brokers under pressure on ship valuations in falling market

The International Transport Intermediaries Club (ITIC) says the fall in the shipping markets has created a number of difficult issues for ship valuers, with brokers in some cases even declining to provide valuations. ITIC’s...

08/01/2007

Be careful with escrow accounts

Although it is not yet a feature of large numbers of transactions, the practice of S&P brokers being asked to hold deposits on behalf of buyers and sellers is now sufficiently established to be considered part of the normal...

02/10/2005

Demurrage Claims by e-mail (Circular 01/10/05)

Our Ref: 2005/01 October 2005 To Shipbroker Members and their Insurance Brokers Every year the Club pays claims caused by shipbrokers failing to forward demurrage claims properly. By the time the mistake is discovered the...

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