Circulars

We have combined our Arvak Tanker/Non-Tanker and CG-5585 applications into a single new application that can be used for all purposes.

A reminder that late payment fees are calculated as follows:

Tankers – if premiums are not received 30 days after invoicing or 90 days after the end of each respective quarter, whichever comes first.

Non Tankers – if premiums are not received prior to each respective renewal date.

I would strongly urge you to follow up with your clients to ensure our payment guide-lines are strictly adhered to. Commencing with February 2009 brokerage statements, we are going to deduct any late payment fees from monthly brokerage for any outstanding late fees not settled in the prior month

Would please take note of our Wire Transfer Instructions below:

Wire Transfer Instructions Correspondent Bank:
HSBC Bank USA
452 5th Avenue New York, N.Y. U.S.A.
FED ABA: 021-001-088
S.W.I.F.T. CODE: MRMD US 33

Beneficiary Bank:
Bank of Bermuda Ltd.
Hamilton, Bermuda
S.W.I.F.T. CODE: BBDA BMHM

Beneficiary Account:
Arvak Ltd.
USD Chequing A/C 010-456325-501

With effect from January 1, 2007 we will be dispensing with issuing Certificates of Entry in the current form. In future, whenever you receive confirmation of entry, renewal, change or Operator or vessel name, the confirmation you receive from us with also incorporate the Certificate of Entry.