Rate this article:  

Table of contents

Rule 61 Time bar

1 The Member shall have no right to compensation unless he has given notice to the Association of any event which may give rise to a claim on the Association within six months of his becoming aware of it.

2 The Member's claim for compensation becomes time-barred three years from the date on which he became aware of his claim and of the circumstances that determine its extent.

3 Where a time-bar has not taken effect earlier, the Member's claim for compensation becomes time-barred ten years from the occurrence of the event unless litigation or a general average adjustment is in progress, when the claim becomes time-barred one year after the issue of the final judgment or adjustment.