In April we announced changes to our terms and conditions including the requirement to use a calculating agent for the settlement of financial contracts such as index linked charters.

At that time we advised that any contracts entered into prior to 1 July 2017 will not require a calculating agent to be retrospectively appointed, but one of the principals will need to be a Level 2 member.

To allow further clarification as to the role of the calculating agent and engagement with the market, we will now be extending that deadline out to 1 September 2017.

Our website contains useful information regarding the role of the calculating agent, which can be found at this link :

 

https://www.balticexchange.com/market-information/calculating-agents/faqs/