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Web alert: Jordan security arrangements update
News & Insights 5 August 2015
Written by
Requirement for P&I correspondents to submit a certified banker’s cheque in respect of cargo loss and damage pending receipt of a bank guarantee is reversed.
The Ministry had previously advised that, as from 29 June 2015, P&I correspondents in Jordan would be required to submit a certified banker’s cheque in respect of cargo loss and damage pending receipt of a bank guarantee in the form required by the Ministry.
Due to the problems caused by this new requirement (most notably delays in obtaining a certified banker’s cheque), we are pleased to report that this new requirement has been reversed. The Ministry has now confirmed that it will accept a security cheque issued by a P&I club’s correspondent pending receipt of a bank guarantee.