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

People & Company News

U.S. Drillers Cut Rigs to Lowest since August

Energy companies have reduced the number of rigs drilling for oil in the United States to the lowest since August, shifting more rigs in favor of natural gas as crude prices dive,

Equinox Class Scrubber Systems Receive Certification

Algoma Central Corporation (“Algoma”), the largest Canadian shipowner and operator of domestic Great Lakes vessels announces that it has received all requisite

MARAD Tests Alternative Power for Ships

The Maritime Administration (MARAD) is testing state-of-the-art, environmentally efficient technology onboard the Training Ship (TS) Kennedy.   The National Defense

Contracts

Wärtsilä, Diesel United Renew Pact

Wärtsilä and Diesel United Ltd in Japan have signed a ten-year renewal of their co-operation agreement for the sale, manufacturing and servicing of Wärtsilä low-speed marine engines.

Delta "T" Hooks for Offshore Customer

Gaining further ground into the offshore crane market, Delta "T" Systems supplied Cranston Eagle hooks to crane manufacturer Appleton Marine, Inc.   These cranes

China to Import 335 MT of Naphtha, Wants More

China is set to import more than 335,000 tonnes of naphtha and diesel, rare moves for the world's no. 2 oil consumer given it has been self-sufficient at meeting domestic oil product demand,

Finance

Italy Ending Med Sea Rescues

Rights groups warn of risk of more deaths; EU mission Triton will have more limited scope. Italy said on Friday it would close a sea rescue mission that has saved the lives of more than 100,

St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.

Mitsubishi Exits Cruise Business; Books $357m Loss

Mitsubishi Heavy Industries, Ltd. (MHI) announced its decision to book an extraordinary loss from its cruise ship business in the company's consolidated financial

Consulting

SMC to Provide Marine Coordination for Siemens

Specialist Marine Consultants Ltd (SMC) have been working with Siemens, providing offshore marine coordination for a fifth Siemens Wind Power construction project.

Good Performance by Dun & Bradstreet in 3Q 2014

Dun & Bradstreet, the world's leading source of commercial information and insight on businesses, today reported results for the third quarter ended September 30, 2014.

Schlumberger Introduces New Well Integrity Service

Schlumberger announced today the release of Invizion Evaluation* well integrity service, which helps operators evaluate zonal isolation by using integrated drilling, cementing and well logging data.

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators Sonar
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: 0.1442 sec (7 req/sec)