AI Summary & Key Takeaways
AI InsightAlthough still not sufficiently well-known by ship-owners, the procedure under Article 292 of the UN Law of the Sea Convention covers a most substantial part of the overall activity of the International Tribunal for the Law of the Sea.
📌 3 Key Takeaways
Abstract
Although still not sufficiently well-known by ship-owners, the procedure under Article 292 of the UN Law of the Sea Convention covers a most substantial part of the overall activity of the International Tribunal for the Law of the Sea. This procedure enables ship-owners to obtain the prompt release of their vessels detained by coastal States for alleged illegal fishing in their EEZ as well as the prompt liberation of the detained crews upon the posting of a reasonable bond. The main objective of Article 292 procedure is for the Tribunal to appreciate the reasonableness of such a bond by the ship-owner is actually. Yet, despite the efforts of the Tribunal, many crucial questions regarding this procedure remain unanswered (criteria of the reasonableness, possibility for the detaining State to confiscate the ship ad son on).