UK insurer International Transport Intermediaries Club (ITIC) has reimbursed a shipbroker accused of a breach of authority in a CoA row.
It was representing an unnamed brokerage accused by an owner in a dispute arising from a non-performing contract.
ITIC said the broker had negotiated the terms of a CoA between a charterer and the owner, receiving all their instructions from an agent purporting to act for the charterers.
