PANAMA FLASH NEWSLETTER – April 30th, 2020
Dear Valued Customers,
Temporary Suspension of the Advance Payment for Transit Reservation (Booking) Fees
April 29th, 2020
Due to concerns regarding the adverse effect that the COVID-19 pandemic is having on world trade, and the shipping industry in particular, the Panama Canal Authority (ACP) announces temporary modifications to requirements for the placement of booking guarantees and advance payment of reservation fees when a reservation is confirmed.
Implementation date : Beginning at 0900 hours Monday, May 4, 2020, until 0859 hours Tuesday, September 1, 2020. (*)
Temporary modification of the bookings payment process (*)
Transit reservation requests for all booking periods submitted during this time period will not require the placement of a booking guarantee.
Substitution of booking slots will not require the placement of the guarantee for the substituting vessel.
Swaps between vessels will not require the placement of guarantees.
The above guarantee shall be placed in full timely prior the vessel beginnings its Panama Canal transits.
Cancellation of booking slots that do not have a guarantee already established will require the placement of the guarantee that covers the amount of the cancellation.
Booking slots that have already been allocated and the guarantee has been placed will not be refunded.
The guarantee requirements for the Transit Itinerary Creation Fee will remain unchanged.
This guarantee must be approved by the guarantor bank in ACP’s automated system in order for the booking slot to be confirmed and for any request for substitution or swap to be accepted.
If any specific questions, we would be pleased to assist. Email. email@example.com
For further information please contact us at:
Norton Lilly International (Panama) S.A.
Bldg. 3825 – Office 204
Howard – Panama-Pacifico
Panama, Rep. of Panama
Tel: (507) 304-4600
Fax: (507) 269-3926
Main email: firstname.lastname@example.org (24 hours)
Management email: email@example.com (office hours)