Understanding the International Convention on Arrest of Ships
Definition & meaning
The International Convention on Arrest of Ships is a treaty established by the United Nations through the International Maritime Organization. Adopted on March 12, 1999, this Convention aims to facilitate international trade and transport by providing a legal framework for the arrest of ships. It seeks to balance the rights of cargo owners and the claims of those seeking security for their financial interests related to maritime activities.
Legal use & context
This Convention is primarily relevant in maritime law, where it governs the conditions under which ships can be arrested to secure claims. Legal practitioners use this treaty to navigate disputes involving shipping, cargo claims, and maritime liens. Users may find it beneficial to utilize legal templates from US Legal Forms to manage related procedures effectively.
Real-world examples
Here are a couple of examples of abatement:
Example 1: A shipping company may arrest a vessel to secure payment for unpaid freight charges. This action is taken in accordance with the Convention's provisions to ensure that the claim is addressed.
Example 2: A cargo owner might seek to arrest a ship that has caused damage to their goods during transit, using the Convention to secure their financial interests. (hypothetical example)