Transit related expenses must be paid in advance to Canal Authorities otherwise passage will not be allowed. Is prohibited by law for The Canal Authority to give credit or discounts.
Therefore in order to avoid unwanted delays is important that funds to cover transit expenses are remitted to us and credited to our account at least 48 hrs prior vessel’s arrival.
Excerpt of the Panama Canal Organic Law:
- Article 77 . All Canal users subject to tolls, fees, and tariffs shall make the payment in cash, in the legal currency of the Republic of Panama or the currency established by the Authority before the service requested is rendered, in an amount equivalent to the cost of the service.The above mentioned payment may be substituted by a surety posted by a bank that meets the requirements of the Authority for such purpose.
- Article 78 . The Authority may require, as a previous condition for transit, that vessels clearly establish the financial responsibility and guarantees for payment of a reasonable and adequate amount, consistent with the rules of international practice, to cover any damages that may result from their transit through the Canal.