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Counterparty Risk Liens on sub-freight and sub-hire Marc Jackson

Counterparty Risk Liens on sub-freight and sub-hire Marc Jackson. Notice of Lien 1. Debt must have accrued. Identify sub-charterers. Are lien clauses back to back? What if lien clause omitted from sub-charter?. Notice of Lien 2. Elements of the lien notice

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Counterparty Risk Liens on sub-freight and sub-hire Marc Jackson

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  1. Counterparty Risk Liens on sub-freight and sub-hireMarc Jackson

  2. Notice of Lien 1 Debt must have accrued. Identify sub-charterers. Are lien clauses back to back? What if lien clause omitted from sub-charter?

  3. Notice of Lien 2 Elements of the lien notice Contracts need to be identified. As do sums due to owners. Reference to pertinent charterparty provisions. Announce the exercise of a contractual lien. Wordings will vary. May include indemnity from owner.

  4. NYPE Lien Clauses NYPE 1946 – Clause 18 “The owners shall have a lien upon all cargoes, and all sub-freights for any amounts due under this charter …” NYPE 1993 – Clause 23 The owners shall have a lien upon all cargoes and sub-freights and/or sub-hire for any amounts due under this charterparty

  5. BULK CHILE Chain of charterparties. 1946 lien clause pertinent law incorporated. Meaning of “sub-freights”. Appeal?

  6. Protection for Owners Ensure the clause includes: Hire Freight Sub-freight Sub-hire and/or demurrage

  7. Counterparty Risk Liens on sub-freight and sub-hireMarc Jackson

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