Redress Clause 1968 (Code Name: REDRESS)

BIMCO Redress Clause 1968 (Code Name: REDRESS)

"If one of the parties to this Charterparty has been obliged to make payment or institute defence in respect of a claim by a third party, under a Bill of Lading or otherwise, of a nature which, as between the parties, would have been the responsibility of the other party under the terms of this Charterparty, the latter should indemnify the former for all loss, damage or expenses resulting therefrom. However, the indemnity payable under this Clause in respect of discharge of such claim shall be reduced to the extent the party in question could have limited his liability if he had been held liable directly to the claimant in the jurisdiction in which the claimant proceeded against the other party."

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