Inter-Club New York Produce Exchange Agreement 1996 (As Amended 2011)

“Freight claims between owners and charterers are fully regulated, secured, shared and paid in accordance with the provisions of the Inter-Club New York Produce Exchange Agreement 1996 (as amended in 2011) or subsequently amended or replaced. This clause prevails over all other clauses or clauses of this charter party that purport to include any other version of the Inter-Club New York Produce Exchange Agreement in this charter party.¬†As a result, the International Group amended the wording of the recommended Charter clause, adopted in 2016, to reflect this recent conclusion and to end the 2011 security agreement requirement. The amended recommendation clause is as follows: the new “security provision” is in Article 9 of the 2011 agreement. As the new agreement will come into effect on September 1, 2011, we recommend that you include it in all NYPE and Asbatime charter lots. Under this new provision, as soon as one of the parties to a charter party has established a guarantee for a right to freight, provided that the deadlines set out in Clause 6 of the agreement have been met, the right to guarantee is based on reciprocity. Inter-Club New York Produce Exchange Agreement 1996 (91 KB) In order to continue to promote the application and inclusion of the 2011 agreement in all nype/Asbatime Charterparties, the International Group of P-I Clubs has developed a charter clause “Cargo Claims” which provides: . A major revision of the inter-club agreement will come into force on 1 September this year. Our club publishes a circular with the other group clubs to inform members of this change. The Inter-Club New York Produce Exchange Agreement, commonly known as the Inter-Club Agreement (ICA), has provided a relatively simple mechanism for a quick and fair distribution of liability for cargo applications under the New York Produce Exchange Form (NYPE) or Asbatime Charterparties. It may also apply to transportation contracts that have been approved under such charter parties. The recently published NEWPE 2015 Charterparty contains a similar clause that also encourages the application and use of the 2011 agreement and is equally acceptable. However, a recent arbitration proceeding in London raised concerns within the International Group, as the court found that the charter clause contained only the liability provisions of the ICA and not the guarantee obligation provided for in point 9 of the 2011 agreement. .

In order to encourage the application and integration of the 2011 agreement to all NYPE/Asbatime charter lots, the circular issued in May 2016 referred members to a recommended charter party clause, developed by the International Group of P-I Clubs.