ANEXO V: The United Kingdom Timber Trade Shipowners' Mutual Association Ltd.

AutorGerardo Conesa Prieto
Cargo del AutorDoctor en Derecho

To: All Members General Circular No. 42

10 January, 1983 Dear S°r(s),

Schedule of Loading, Discharging and Demurrage, etc. Rates (B.T.S.14)

Calculation of Laytime - Incentive Payment Claims

The Committee of Management has approved a proposal by the Timber Trade Federation for a change to be made to the method of calculating laytime applicable to vessels when a claim for incentive payment has been made upon the Association.

Under the new method, which will take effect in respect of charter parties signed and dated on and after 1 February, 1983, fractions of a day produced by dividing the rate of discharge into the cargo quantity are to be converted into hours and minutes, precisely. Thus, 1.234 days will become: 1 day 5 hours 37 minutes. In this example, laytime will end 5 hours and 37 minutes after midday or midnight on the second working day, as the case may be, but with account taken of intervening causes of delay which customarily are not counted for laytime purposes by the Association. The amount of laytime saved will be obtained by deducting the actual time the discharge of cargo was completed from the precise laytime.

To give effect to the change, the section of the General Conditions to the above Schedule, relating to 'Incentive Money' is amended by the addition of the paragraph following:

"Incentive payment claims are to be calculated upon laytime expressed in days, hours and minutes, precisely. The calculation will be subject to a minimum laytime of one full day."

Example

[NO INCLUYE CUADRO]

The United Kingdom Timber Trade Shipowners' Mutual Association Ltd.

To: All Members General Circular No. 45

7 September, 1983 Dear Sir(s),

Schedule of Loading, Discharging and Demurrage, etc. Rates (B.T.S.14)

Rates of Discharge - 1 October, 1983

The Committee of Management has approved a revisiÛn of the rates of discharge used for calculating laytime for demurrage and incentive payment purposes, in agreement with the Timber Tfade Federation.

The rates will be computed by means of the formulae set out below.

No alteration is made to the method of calculating laytime. The laytime for demurrage purposes will continuÈ to be oÒ the basis of fractions of a day being rounded up to the nearest half or full day. To assess the period of laytime in which time saved may be counted for incentive purposes, fractions of a day will continue to be converted* into hours and minutes precisely, as described in

General Circular No. 42 dated 10 January, 1983.

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