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 June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

Research Vessel Heincke: Serving Science for 25 years

7 July 2015. A quarter of a century old, with over 900,000 kilometres (488,842 nautical miles) logged and still on the cutting edge of science and technology:

Stena RoRo Charters Three Vessels

Stena RoRo has reached an agreement with the Finnish shipping company Godby Shipping to long-term charter their three RoRo vessels Misida, Misana and Miranda.

Contracts

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

G6 Alliance Extends Asia – North America Service

In response to market demand, members of the G6 Alliance today announced the below enhancement to improve the Asia – North America (East Coast) trade. NYK will

Stena RoRo Charters Three Vessels

Stena RoRo has reached an agreement with the Finnish shipping company Godby Shipping to long-term charter their three RoRo vessels Misida, Misana and Miranda.

Finance

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

Asia-N Europe Container Freight Rates Jumps 60%

Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose by 60.4 percent to $879 per 20-foot container (TEU) in the week ended on Friday,

Stena RoRo Charters Three Vessels

Stena RoRo has reached an agreement with the Finnish shipping company Godby Shipping to long-term charter their three RoRo vessels Misida, Misana and Miranda.

Consulting

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

Research Vessel Heincke: Serving Science for 25 years

7 July 2015. A quarter of a century old, with over 900,000 kilometres (488,842 nautical miles) logged and still on the cutting edge of science and technology:

New Record Year in Dry Bulk Demolition Underway - BIMCO

The monthly average for the first six months in 2015 is 3.3m DWT. In 2014 the first half year averaged at 1.33m DWT per month.   April 2015 saw 5.36 million DWT being retired from active service,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.1666 sec (6 req/sec)