Interclub New York Produce Exchange Agreement 1996

Although the New York Produce Exchange Form (NYPE) charter party has been widespread for many years, cargo liability rules do not easily allow owners and charterers to take responsibility for freight claims. More than 25 years ago, international group clubs agreed on a relatively simple burden-sharing formula that they would recommend to their members. The NYPE Inter-Club Agreement appears to have become an industry standard in the sense that the parties to the NYPE charterer now routinely settle the settlement of freight rights between owners and charterers, in accordance with the terms of the agreement. INTER-CLUB NEW YORK PRODUCE EXCHANGE AGREEMENT 1996 The new “security provision” is included in clause 9 of this 2011 agreement. Under this new provision, the right to security is reciprocal as soon as one of the parties to a party to the charter has provided security in respect of a request for freight, provided that the time limits set out in clause 6 of the agreement have been complied with. As the new agreement will enter into force on 1 September 2011, we recommend its inclusion in all parties to the NYPE and Asbatime charter. Inter-Club New York Produce Exchange Agreement 1996 (91 KB) A copy of the Inter-Club Agreement 1996 is attached. It will enter into force on 1 September 1996. “Freight rights between owners and charterers are subject to the provisions of the Inter-Club New York Produce Exchange Agreement 1996 (as amended in 2011) or any subsequent amendment or replacement thereof.

This clause prevails over all other clauses or clauses of this party that purport to include any other version of the Inter-Club New York Produce Exchange Agreement in this holiday.┬áThis agreement was concluded on 1 September 1996 between the P&I clubs that are members of the International Group of P&I Associations (hereinafter referred to as “the clubs”). b. Claims actually arising from the loading, storage, loading, unloading, storage or other handling of goods: no-fault liability under the Inter-Club Agreement (“ICA”) Accordingly, the International Group amended the text of the holiday clause of the charter recommended in 2016 in order to take account of this last finding and to seize the requirement of the 2011 agreement to ensure safety. The amended recommendation clause is as follows: a major revision of the inter-club agreement will enter into force on 1 September this year. Our club, like other group clubs, issues a circular to inform members of this change. c. the claim has been duly settled, compromised and paid. 4. Allocation under this Agreement shall apply only to freight applications if: the new distribution regime also provides for the possibility that the Hamburg Rules may apply. c. Subject to the above claims (a) and (b) in the event of default or over-substement, all member clubs of the International Group have issued a similar circular.

1. This Agreement shall apply to any party to the charter concluded after the date of this Agreement on the New York Produce Exchange Form 1946 or 1993 or asbatime Form 1981 (or any subsequent modification of such forms). . . .