Security: Club Letters of Undertaking
One of the most popular facilities afforded by P&I Clubs is their assistance in securing the release of arrested vessels entered in the club by providing security for the claim advanced. Although this service is sometimes referred to as providing “bail”, the guarantee provided by a club to secure the release of an arrested vessel is rarely in the form of a traditional “bail bond” as once recognised by English law in the Rules of the Supreme Court. The facility of releasing a vessel from arrest by means of a bail bond is no longer available under the Civil Procedure Rules.
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