Inter-Club New York Produce Exchange Agreement (As Amended May 1984)

Abstract

Memorandum of Agreement (herinafter referred to as ‘the Agreement’) as to the apportionment of liability for cargo claims arising under the New York Produce Exchange Charter between Assuranceforeningen Gard, Assuranceforeningen Skuld, The Britannia Steam Ship Insurance Association Limited, The Liverpool and London Steamship Protection and Indemnity Association Limited, The London Steam-Ship Owners’ Mutual Insurance Association Limited, Newcastle Protection and Indemnity Association, The North of England Protecting & Indemnity Association Limited, The Standard Steamship Owners’ Protection and Indemnity Association Limited, The Standard Steamship Owners’ Protection and Indemnity Association (Bermuda) Limited, the Steamship Mutual Underwriting Association (Bermuda) Limited, The Sunderland Steamship Protecting & Indemnity Association, Sveriges Angfartygs Assurans Forening, The United Kingdom Mutual Steamship Assurance Association (Bermuda) Limited and The West of England Ship Owners Mutual Protection and Indemnity Association (Luxembourg) (hereinafter together referred to as ‘the parties’).

The NYPE Time Charter 1946 has raised in the past a number of disputes regarding the apportionment of liabilities between the parties of the contract. One of the most controversial issues was in connection with time bar limitation. To solve this problem an Agreement has been reached.