The Inter-Club New York Produce Exchange Agreement, which was first formulated and entered into by Clubs in 1970 (the ICA), provides a relatively simple mechanism whereby liability for cargo claims arising under New York Produce Exchange Form (NYPE) or Asbatime charterparties and/or contracts of carriage authorised under such carterparties, cna be swiftyly and fairly apportioned between Owners and Charterers.
