Due to its key position, Panama is a necessary route for hundreds of vessels of all class.
This is a particular advantage for those who, in exercise of a credit right or to insure the result of a proceeding, have the intention of a ship arrest. In the Panamanian maritime procedure exist the forum arrest notion under which the arrest of a vessel or goods of the defendant by the Maritime Court is ascribed in its favor of the competence for knowledge of the matter in virtue of which the measure is executed.
To enforce the arrest, is only required to deposit before the court the amount of US $ 1,000.00 as a guarantee against possible damages and US$ 2,500.000 for marshal expenses. This cost is very competitive compared with other jurisdictions and all the expenses are taxed as cost in the action.
The maritime court of the Republic of Panama has shown to be a convenient judicial forum for plaintiffs. The Panama Maritime Court is available the 24 Hours a day, the 365 days of the year, to the international maritime community in order to institute judicial proceeding to enforce their claims through the seizure and arrest of the vessels.
Pmac United Law Firm is a firm with vast experience in maritime litigations and activities related with international maritime commerce. Our practice covers the following ranges:
• Arrest of vessels
• Cargo Claims
• Carriage of goods
• Collisions and salvage
• Personal injuries claims
• Charter parties
• Ship sale and purchase
• Among others.
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Panama ship registration