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Rule 14 Laid-up returns

1 Subject to any special terms which may have been agreed, if the Vessel has been laid up in a safe port or other approved lay-up location for a period of at least 15 consecutive days (or, in case of a U.S. owned, operated or managed unit, 30 consecutive days), excluding the day of arrival at and the day of departure from the lay-up location, such proportion as the Association may decide of the premium payable, pro rata for the period of the lay-up, shall be returned to the Member.

2 The Member shall disclose to the Association any major repairs or alterations to be undertaken during lay-up, and if required by the Association shall forward to the Association a copy or copies of the contract or contracts for such works, and the Association may in its discretion make adjustments to the rate at which laid-up returns are payable under Rule 14.1.

3 No claim for laid-up returns shall be recoverable from the Association unless the Member has informed the Association of the lay-up of the Vessel within 30 days after the commencement of the lay-up and the claim for laid-up returns is made within 30 days of the end of the lay-up period.