P. &. I Clubs Law and Practice

Page 247


Security: Club Letters of Undertaking


14.1 One of the most popular facilities afforded by P&I Clubs is their assistance in securing the release of arrested vessels entered in the club by providing security for the claim advanced. Although this service is sometimes referred to as providing “bail”, the guarantee provided by a club to secure the release of an arrested vessel is rarely in the form of a traditional “bail bond” as once recognised by English law in the Rules of the Supreme Court. The facility of releasing a vessel from arrest by means of a bail bond is no longer available under the Civil Procedure Rules.

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, click Log In button.

Copyright © 2024 Maritime Insights & Intelligence Limited. Maritime Insights & Intelligence Limited is registered in England and Wales with company number 13831625 and address 5th Floor, 10 St Bride Street, London, EC4A 4AD, United Kingdom. Lloyd's List Intelligence is a trading name of Maritime Insights & Intelligence Limited.

Lloyd's is the registered trademark of the Society Incorporated by the Lloyd's Act 1871 by the name of Lloyd's.