Persistence pays on claim

International Transport Intermediaries Club (ITIC) has illustrated how persistence can pay off for shipping intermediaries looking to pursue legitimate claims in today’s difficult financial climate. ITIC has recounted the case of a shipbroker owed outstanding commission by time-charterers, widely thought to be in financial difficulties. The charter party provided that the time-charterers were obliged to deduct the broker’s commission from the hire and pay this directly to the broker. The charterers had deducted commission of €50,514 from the hire, but had only paid €20,000 to the broker. Thereafter, payments had suddenly ceased without explanation. ITIC wrote to the time charterers on behalf of its shipbroker client on two occasions and was advised payment was to follow. But no money was received.