To: Members of the Association

Circular No. 4/96

New York Produce Exchange Inter-Club Agreement 1996

Members who have chartered out their vessels, or chartered in tonnage are aware that the New York Produce Exchange Form (NYPE) Charterparty usually contained a clause providing for apportionment of cargo claims under the NYPE Inter-Club Agreement as amended.

The first Inter-Club Agreement was formulated in 1970/72 and has been amended on a number of occasions, the last amendment was dated 1984. The International Group of P&I Clubs has formed a small sub-committee to produce a redraft of the agreement to bring it in conformity with current practices to ensure its continued use.

The managers are enclosing a copy of the Group Circular, together with the new Inter-Club Agreement 1996, which has been adopted by all of the P&I Clubs of the Group effective September 1, 1996.

Members who have any questions regarding the enclosures should feel free to contact the undersigned who will be pleased to be of assistance.

Very truly yours,

William A. Craig

Enclosures
VAPS CIRCULR4.96