BIMCO Can Help Members Get Their Just Financial Reward

MarineLink.com
Thursday, February 06, 2014
Image CCL credit Dominic Alves

BIMCO reminds its members that one of its services is intervention to recover outstanding undisputed amounts. The service is free of charge and is offered only to members acting on their own behalf and in their own interest.

Members owed money - be it an owner having problems obtaining payment of freight or demurrage or an agent or broker having difficulties in recovering his outlays, agency fee or commission - can ask BIMCO to intervene on their behalf with a view to retrieving the outstanding balance, provided that the unpaid balance is undisputed and that the members are acting on their own behalf and in their own interest.

Cases handled by BIMCO’s Front Office on behalf of Owner members mainly concern hire and freight balances, deadfreight, demurrage, unreturned balances of advance funds and disregarded arbitration awards. Brokers and Port Agents can ask BIMCO for assistance in collecting brokerage commission and balances on disbursements accounts. Through this intervention, BIMCO has helped members recover several million USD per year.

BIMCO briefly outline the process as follows:
In a matter of non-payment of undisputed amounts, the member presents his case to BIMCO with copy of all relevant background material, requesting BIMCO to intervene on his behalf against the defaulting contractual party.

Once the submitted documents have been examined, the Secretariat confronts the alleged defaulting party with the submitted information and requests his views or, alternatively, a prompt rectification of the situation. If our intervention does not have the desired effect, a Notice to Members is issued and circulated to all BIMCO members.
 
Members are advised that all correspondence concerning BIMCO intervention should be sent to the Front Office.

 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Keystone XL Costs to Nearly Double - TransCanada

The total cost of TransCanada Corp's controversial Keystone XL pipeline is likely to nearly double following six years of regulatory delays, a company spokesman said on Friday.

Chevron To Find Buyers for Hawaiian Refinery

Chevron Corp has hired an investment bank to identify potential buyers of its 54,000 barrel-a-day refinery in Kapolei on the Hawaiian island of Oahu, a company official said.

Rotterdam Integrates Safety Research with LNG Training Facility

The Dutch company Falck Risc is becoming the number one expert on LNG safety in Europe. Together with the Unified Fire Department, Falck Risc will draw up guidelines

Contracts

Keystone XL Costs to Nearly Double - TransCanada

The total cost of TransCanada Corp's controversial Keystone XL pipeline is likely to nearly double following six years of regulatory delays, a company spokesman said on Friday.

Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

Source: Siemens Offering $6.1 bln for Dresser Rand

Germany's Siemens plans to offer more than $6.1 billion, or $80 per share, for U.S. compressor and turbine maker Dresser-Rand, Germany's Manager Magazin said on Friday.

Finance

Deep Sea Supply takes Delivery of 'Sea Triumph'

The Deep Sea Supply  took delivery of the newbuilding Platform Supply Vessel 'Sea Triumph'  on Thursday 18 September.  The vessels 'Sea Triumph' is a STX 05-L

Chevron To Find Buyers for Hawaiian Refinery

Chevron Corp has hired an investment bank to identify potential buyers of its 54,000 barrel-a-day refinery in Kapolei on the Hawaiian island of Oahu, a company official said.

Colombia's Ecopetrol Sees Recovery in 2015

Colombia's top energy company Ecopetrol is targeting production of 1 million barrels of oil equivalent per day in 2015, a steep recovery over this year, clouded

Consulting

Antwerp Port Seeks Inputs on Setting-up LNG bunkering

By the beginning of 2016 the port of Antwerp will have an LNG bunkering and filling station for barges. The procedure for construction of the station is currently under way.

Livingston Appoint Candace Sider V-P Regulatory, Canada

Customs brokerage and trade compliance advisors, Livingston, say that to better reflect the company’s integral role in regulatory affairs for its clients, Livingston

ZeoGas hires Foster Wheeler to Plan Gulf Coast Project

Foster Wheeler AG announced today that a subsidiary of its Global Engineering and Construction Group has entered into a Collaboration Agreement with ZeoGas LLC.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pipelines Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2268 sec (4 req/sec)