Independent Correspondents & Maritime and Transport Services S.L., Barcelona, have provided us with the following information.

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We are pleased to enclose our Circular 1A/2004 referred to “Spain: vessels’ detentions by port authorities – Mapfre Bonds” where we inform about why Club letters of undertaking are not accepted by the Spanish authorities as well as about the decision by Spanish insurance company MAPFRE not to continue providing bonds on behalf of the IG P&I Clubs when one of the vessels they cover is arrested by a Spanish authority. We are therefore now trying to look for another facility in Spain as well as trying to see possibilities to change the law in Spain. Any comments are welcome.

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Mapfre Bonds (Circular 1A/2004).pdf

For further information please contact Independent Correspondents & Maritime and Transport Services S.L. Tel. +34 93 4876108 or indeco@icab.es

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