BAIL
- The Association is under no obligation to provide bail, security for coasts, deposits or any other security whatsoever on behalf of any Member in any circumstances whatsoever. If however, the same is provided, it shall be on such terms (including as to payment of sums owed to the Association, deductible and confirmation of class) and in the manner as may be proposed by the Managers in their discretion. Unless otherwise agreed in writing, the Association shall be entitled to a commission from the Member of 1% per annum of the amount of the bail or security provided in addition to the cost of providing the same. The provision of bail or security shall not constitute any admission of liability by the Association for the claim in respect of which the bail or other security is given. In circumstances where the Association does agree to provide bail or other security, the Managers may at any time require the Member to provide an indemnity or third party guarantee acceptable to the Managers. The need for and acceptability of such an indemnity or guarantee both as to form and as to the guarantor will be at the discretion of the Managers.
- No costs, expenses or charges incurred by a Member in connection with the provision of bail or other security to obtain the release of or prevent the arrest or attachment of an entered ship or any other property or assets whatsoever of that Member shall be recoverable from the Association.
