Liabilities for cargo claims shall be borne by Owners/Time Charterers in accordance with the New York Produce Exchange Interclub Agreement of 1996. The party having paid the claim shall submit to the other party supporting documents as soon as possible.
Cargo claims shall be apportioned between Owners and Time Charterers in accordance with the Inter Club New York Produce Exchange Agreement dated 1 September 1996 or latest amendments thereto.
In the event a shortage claim is asserted or threatened with arrest or detention or other restraint, Charterers shall procure provision of sufficient security at their own cost and expense and provide such bond or other security as may be demanded in respect of the entirety of the claim, so that the Vessel is not detained arrested or otherwise restrained
Cargo claims between the Owners and the Charterers shall be settled in accordance with the Interclub New York Procedure Exchange Agreement of February 1970, as amended 1996.