SHIP MANAGER'S SETTLEMENT AUTHORITY Sample Clauses

SHIP MANAGER'S SETTLEMENT AUTHORITY. Under this contract, the Ship Manager's authority to negotiate a compromise settlement of an administrative claim is limited to offering the claimant up to twenty thousand dollars (US$20,000.00). The $20,000 settlement authority is for compensatory damages and does not include maintenance and cure, repatriation expense, unearned wages or other miscellaneous expenditures previously paid the seafarer. If the maximum offer of $20,000 for compensatory damages is rejected by the claimant or his/her representative, the Ship Manager shall refer the claim to the Director, Office of Subsidy and Insurance. The Ship Manager is authorized to enter into negotiations with either the injured seafarer or his/her representative in order to obtain a compromise settlement where the computed reserve does not exceed $20,000. If a compromise settlement is agreed to, the Ship Manager shall obtain a signed, notarized release, whereby the seafarer discharges MARAD, and, in turn, the Ship Manager, from liability for all damages, in exchange for the payment of monetary damages, in a specified amount.
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