Charterparty Clause – Financial Security in Respect of Pollution

Wednesday, 26th January 2011

This circular contains an updated International Group charterparty clause on financial security in respect of pollution. The clause has been updated to remove any uncertainties that may have arisen with regard to the scope of charterers' indemnity under the clause, in particular with regard to the consequences of non-compliance with financial security requirements and also the rights and liabilities of the parties in the event of the owner agreeing to meet them.