Andrew Iyer reports on some of the work the firm has been doing for clients during the last 3 months, and discusses the advantages of fixed fee and retainer arrangements that are proving particularly popular with clients.
Commercial, Corporate & Contract work, Claims & Arbitrations:
In recent months we have been assisting a variety of UK and international clients across a wide range of matters in our practice areas. Whilst most of the matters we handle are confidential by their nature, and we do not give client names, the following are some examples of the types of work we have been involved in recently:
We are regularly instructed in connection with general Commercial, Corporate and Contract matters by our clients. In the last three months in these area we have assisted both UK and international businesses with a variety of commercial matters, contracts and agreements, including a Shareholders’ Agreement for the equity owners of a large marine sector group; reviewing and updating standard Sale & Purchase Agreements for an international yacht brokerage; Lease Agreements; Non-Disclosure Agreements; Service Agreements for contractor personnel; Commission Sharing Agreements; JV, Partnership and Co-operation Agreements; and Client Account T&Cs.
In the Arbitration and Commercial Disputes sectors we have been instructed by a well-known commodity trader to handle a significant ICC cross border arbitration, which involves proceedings in multi jurisdictions and enforcement under the New York Convention; we have assisted Charterers defend claims for cancelling a long term COA (LMAA Arbitration); we have represented the Director and Shareholder of a construction group in connection with claims against group companies; we have represented an Operator in disputes with a leading bunker supplier over pricing; and we have assisted a Demise Charterer pursue claims against a well-known shipping group, including presenting claims to the German Liquidator and dealing with Security and Arrest matters.
In the Commodities & International Trade markets we have been busy advising clients involved in long term supply contracts where counter-parties have reneged due to market prices having fallen significantly below contract prices.
In the Insurance sector we have assisted a transport and logistics company with bespoke Hull & Machinery Policy terms and conditions upon renewal; we have assisted an online marine business in its dealings with a London Market insurer concerning an IAR arrangement; and we have advised various Owners on aspects of Club coverage (P&I and Defence) and deductibles.
In the Shipping and Marine sectors, we have been working regularly with leading P&I Brokers, Owners, Charterers and Managers, in connection with Charterparty, Bill of Lading and other matters, in various established shipping markets, including Italy, Greece, Asia and South America, advising on a wide range of marine disputes and matters, including unpaid freight claims, fixture cancellations, maritime liens, shortages and delays, final disbursement accounts, as well as arrests under the 1952 and 1999 Arrest Conventions, and other security arrangements; we have advised fleet managers and demise charterers on renegotiating long term COAs due to the depressed dry-bulk sector; and we have assisted Operators pursue unpaid freights.
In the Energy & Offshore sectors we have assisted clients involved in the long term supply of fuel products and we have advised contractors on various aspects of BIMCO offshore contracts.
Fixed fee and Retainer Arrangements:
We are able to offer low cost, fixed fee and retainer arrangements, to allow clients access to affordable expert legal advice for a fixed, all inclusive budget. Not surprisingly, these fee arrangements are proving very popular with certain clients.
We operate a number of retainer arrangements for clients where we provide a service equivalent to having an ‘in-house’ lawyer; clients can contact us for advice and assistance whenever required, for a low, very affordable, fixed fee monthly retainer.
Retainers are particularly useful arrangements for businesses that have regular need of legal advice, but which cannot afford to, or are put off having to, incur hourly rate based legal fees charged per matter – which charging structure, by its nature, is unpredictable and, inevitably, an expensive way to access legal advice and services. In contrast, for an agreed fixed monthly fee (which is usually much less than clients expect) our clients can have more or less unlimited advice and assistance whenever they need it, as often as they need it!
As one of our retainer clients comments when describing this service:
“Andrew Iyer of IY LEGAL has excellent, wide ranging experience and expertise and is a very accomplished commercial lawyer. He has become a valuable and extremely cost effective legal resource for our UK and international businesses. I highly recommend his firm and his services.” Neil Chapman, MD Boatshed Inc., International Marine Brokers.
If you are interested in our Fixed Fee or Retainer arrangements, please contact Andrew Iyer on +44 207 1007714 or at [email protected].
For more information about IY LEGAL and the legal services we can provide, please visit www.iylegal.com.