Bermuda P&I Class Rules 2001/2002 - The Standard Club

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Interest
16.6 In no case whatsoever shall interest be paid upon sums due from the
Club.
Member to pay claim first
16.7 Unless the Board shall in its discretion otherwise determine, it is a
condition precedent of a Member’s right to recover from the funds of the
Club in respect of any liabilities, costs or expenses that he shall first have
paid the same out of funds belonging to him unconditionally and not by
way of loan or otherwise.
16.7.2 Where the Club has paid a claim to or on behalf of a member, the
whole of any recovery from a third party in respect of that claim shall be
credited and paid to the Club up to an amount corresponding with the
sum paid by the Club, including any interest and legal costs and
expenses.
Deductibles
16.8.1 Any deductible set out in this paragraph 8 of Rule 16 or in the
Certificate of Entry of the entered ship shall be deducted from any sum
recoverable under these Rules or the said Certificate of Entry.
16.8.2 Unless otherwise expressly agreed in writing all claims shall be subject to
such standard deductibles as the Board may from time to time determine,
whether or not a Member has received notice of such determination.
16.8.3 Without prejudice to the applicability of any deductible the Club may,
by direction of the Board or the Managers, undertake the defence of a
Member or institute legal proceedings on his behalf in respect of any
amount not recoverable from the Club by reason of any deductible for
the purpose of ascertaining in due course the legal liability or right of
the Member; and the Club shall bear the expense of such legal
proceedings; but the Member shall himself bear any damages therein
adjudged or awarded against him.
Note: Unless otherwise specifically agreed in writing with the Managers the
following standard deductibles will apply to all claims:
(i) Claims under Rule 20.20, 21 and 23 relating to loss of or damage to or
responsibility in respect of cargo or for Cargo’s proportion of General Average,
including special charges or salvage, shall be limited to the excess of U.S.$8,000
in respect of each cargo voyage, SAVE THAT in respect of any cargo or part cargo
of steel, claims shall be limited to the excess of U.S.$20,000 each cargo voyage;
(ii) all other claims shall be limited to the excess of U.S.$8,000 in respect of any one
accident or occurrence.