Terms and Conditions

Terms and conditions for services provided by Altamar Panama S.A.

Purpose of Information and Communications

The information contained in this website is for general information purposes only. The information is provided by Altamar Panama S.A and whilst we endeavor to keep the information up-to-date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics or charts contained on this website or links for any purpose. Any reliance placed on such information is therefore strictly at user's own risk. During the rendering of the services / appointment, the parties may communicate via phone, letter, fax and e-mail. Altamar undertakes no responsibility for electronic data transmission by e-mail via the internet, and while it will endeavor reasonable means to guarantee its security, the parties acknowledge that internet communications are unsecure in terms of confidentiality and authenticity and that electronic data transmission by e-mail via the internet can lead to a loss of data and the undetected exposure to malware, such as computer viruses, trojans, etc.

Limitation of Liability

Altamar shall not be held liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data, incorrect or inaccurate information or loss of profits arising out of or in connection with the use of this website. Any liability from Altamar Panama, S.A. for errors and omissions shall be limited to a maximum of two and a half (2.5) times the amount of the fees charged by Altamar Panama, S.A. In no case Altamar Panama, S.A. shall be liable for indirect or consequential damages.

External Links

Through this website you are able to link to other websites which are not under the control of Altamar Panama S.A. We have no control over the nature, security, content, safety and availability of those sites. The inclusion of any links does not imply a recommendation or endorsement the information, or the views expressed therein.

Agency Representation

All actions, engagements, appointments or processes made by Altamar Panama, S.A. before Panamanian Authorities or third parties are made as agents only, on behalf of the Nominating Party (client) and/or the vessel, and unless expressly stated otherwise, shall not be enforceable against Altamar Panama, S.A.

Payment Terms and Conditions

Pre-funding Requirements

The Panama Canal Authority (PCA) demands a 100% prefunding; therefore Altamar Panama S.A. also requires upfront a 100% prefunding for canal transits.

Client's Responsibility for Charges

The Nominating Party (“the client”) shall be, for all purposes, the primary responsible for any fees, disbursements, fines or expenses levied upon, paid or to be paid by Altamar Panama, S.A.. The client acknowledges and agrees that any additional charge(s) generated or imposed by the Panama Canal Authority or any other government body or entity in connection with the nominated transit, anchorage, immigration or port operations, including disruption of the same, shall be settled to Altamar Panama S.A. by the Nominating Party of the Transit, regardless if it arises from or related to a matter for which owners, bareboat charterers, managers, cargo interests or any other party is responsible. By nominating Altamar Panama S.A. it is understood that these General Services and Payment Terms and Conditions of Altamar Panama S.A. are accepted.

Payment Deadlines and Late Payment Fees

- All outstanding balances owed to Altamar Panama S.A. by the Nominating Party, or imposed on the vessel for which Altamar Panama S.A. may be liable, shall be settled no later than 30 calendar days after receipt of the Disbursement Account (DA). - Any sums due after this period shall be subject to a two per cent (2%) monthly interest, allowed for in the Republic of Panama.

Disruption Charges and Fines

In case of disruption charges or fines imposed by the Panama Canal Authority or other competent authority, such charges or fines shall be paid by the Nominating Party no later than 5 calendar days from receipt of invoice or payment demand from the Panama Canal Authority or relevant entity. Shall the Panama Canal or other authority directly debit fines or disruption charges from Altamar's bank account, or Altamar choose to pay such sums to avoid being held in contempt by local authorities, we reserve the right to charge financing interest at 2% per month, pro rata, for the period until reimbursement is received.

Cancellation Terms

In the event of cancellation of the requested services after confirmation by Altamar Panama S.A., the client shall pay a cancellation fee equivalent upto 50% of the total service amount, in addition to any costs, charges and fines incurred by Altamar Panama S.A. related to the cancellation.

Law, Jurisdiction and Dispute Resolution

Any dispute arising from or in connection with these Terms and Conditions or the services rendered by Altamar Panama, S.A. are subject to the laws of the Republic of Panama and any dispute arising therefrom resolved exclusively before the Maritime Courts of Panama, with exclusion to any other courts, arbitration or jurisdiction. Altamar Panama, S.A. reserves the right to modify or amend these terms and conditions to keep up with industry's standards, changes and requirements. Shall such change or modification be made during an ongoing appointment, Altamar shall notify the client by email or reflect such changes at its website, otherwise these terms will remain in force for the remaining duration of the appointment. Any tariffs or taxes payable to the Republic of Panama shall be binding immediately upon entry into force, and Altamar reserves the right to request the advance or reimbursement of such funds.

Indemnification Clause

The Client agrees to indemnify and hold Altamar Panama S.A., its directors, employees, and agents harmless from any claim, damage, fine, or expense arising from the Client's breach of these General Terms and Conditions, or any activities related to the services provided by Altamar Panama, S.A. or the vessel(s) call at Panamanian waters / ports / canal.

Maritime Liens

All services rendered by Altamar Panama, S.A., including disbursements made, supplies and all engagements required are deemed to be benefit and operation of the vessel, and therefore shall be considered under Panamanian law as giving rise to a privileged maritime credit (maritime lien), enforceable worldwide directly against the vessel, regardless of ownership. Altamar reserves the right to enforce this lien or proceed directly in personam against the liable entity or person.

Anti-Money Laundering and Due Diligence

The client shall provide Altamar with all information and documents requested to fulfil the requirements of due diligence under Panamanian law. The client warrants and represents that it is not subject to or is currently listed in any sanctions list from the United States of America (OFAC or similar), the United Nations, European Union or other international entities. Any failure from the client to fulfil these obligations shall entitle Altamar to immediately terminate the appointment and services rendered and will result in client's obligation to cover fees and expenses incurred under see "Cancellation Terms".