ICCA

INSTITUTE CLASSIFICATION CLAUSE

Underwriters will be aware that one of the basic requirements for a Classification Society’s inclusion within the Institute Classification Clause is that the society must be a full Member of the International Association of Classification Societes (IACS).

As a result of the suspension of the Polish Register of Shipping (PRS) from IACS Full Membership, the decision has been taken by the Joint Cargo Committee that the current Insitute Classification Clause 13/4/92 should be withdrawn and replaced by a new clause reflecting the change in status of PRS. The opportunity has also been taken to add the Chinese Register of Shipping to the clause in line with the notification to the market issued under circular JC 94/138 dated 14 June 1994. It should also be noted that the new clause reflects the update notations introduced by certain classification societies since the production of the 1992 clause. Reference to "class without modification" has been deleted following consultation with IACS as being no longer relevant.

In view of the above, an amended Institute Classification Clause dated 1 August 1997 has been produced and is available for use with immediate effect and should be used on all new business or renewals written on or after 1 August 1997. Notice of Cancellation is not being tendered on contracts currently in force which include the 13/4/92 clause, these contracts may continue with this clause until their next anniversary date or renewal subsequent to 31 July 1997.

The amended clause 1/8/97 is as follows :

THE MARINE TRANSIT RATES AGREED FOR THIS INSURANCE APPLY ONLY TO CARGOES AND/OR INTERESTS CARRIED BY MECHANICALLY SELF-PROPELLED VESSELS OF STEEL CONSTRUCTION, CLASSED AS BELOW BY ONE OF THE FOLLOWING CLASSIFICATION SOCIETES,

Lloyd’s Register 100 A1 or B.S.

American Bureau of Shipping + A1

Bureau Veritas 1 3/3 E +

China Classification Society *CSA

Germanischer Lloyd + 100 A5

Korean Register of Shipping + KRS 1

Maritime Register of Shipping KM *

Nippon Kaiji Kyokai NS*

Norske Veritas +1 A1

Registro Italiano *100-A-1.1.

PROVIDED SUCH VESSELS ARE

a) (i) not bulk and/or combination carriers over 10 years of age.

(ii) not mineral oil tankers exceeding 50,000 GRT which are over 10 years of age.

b) (i) not over 15 years of age, OR

(ii) over 15 years of age but not over 25 years of age and have established and maintained a regular pattern of trading on an advertised schedule to load and unload at specified ports.

CHARTERED VESSELS AND ALSO VESSELS UNDER 1000 G.R.T. WHICH ARE MECHANICALLY SELF-PROPELLED AND OF STEEL CONSTRUCTION MUST BE CLASSED AS ABOVE AND NOT OVER THE AGE LIMITATIONS SPECIFIED ABOVE.

THE REQUIREMENTS OF THE INSTITUTE CLASSIFICATION CLAUSE DO NOT APPLY TO ANY CRAFT, RAFT OR LIGHTER, USED TO LOAD OR UNLOAD THE VESSEL, WHILST THEY ARE WITHIN THE PORT AREA.

CARGOES AND/OR INTERESTS CARRIED BY MECHANICALLY SELF-PROPELLED VESELS NOT FALLING WITHIN THE SCOPE OF THE ABOVE ARE HELD COVERED SUBJECT TO A PREMIUM AND ON CONDITIONS TO BE AGREED

CL. 354 SOLD BY WITHERBY & CO. LTD, LONDON