A brokerage commission at the rate stated
in Box 20 on the freight earned is due to the party mentioned in Box 20.
In case of non-execution at least1/3of the brokerage on the estimated
amount of freight and dead-freight to be paid by the Owners to the
Brokers as indemnity for the latter's expenses and work. In case of
more voyages the amount of indemnit
y to be mutually agreed.