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The false economy of amending knock for knock clauses

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From the Shipowners’ Club:

The false economy of amending knock for knock clauses

Some charterers propose amendments to standard knock for knock clauses in offshore contracts, while such changes can appear to be a gain for the charterer, they can come at great cost in terms of delays in obtaining contract approvals, greater expense, inefficiency and lower limits in the insurance framework.

The Club’s latest article by Alex McCooke, Offshore Syndicate Manager – Claims, explains why the integrity of knock for knock agreements is so important, identifies the changes that can undermine the regime and summarises why all those involved should think carefully before making such amendments

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