MLC Financial Security — Abandonment
MLC 2014 amendment requiring shipowners to maintain insurance/financial security for repatriation, wages, and essential needs of abandoned seafarers.
In practice
Insurer named on the DMLC Part II responds within 14 days under the financial-security mechanism. Abandoned crew can self-help by activating the insurer directly.
Regulatory detail & full definition
MLC 2006 Standard A2.5.2 (2014 amendments effective 2017) requiring shipowners to maintain insurance or other financial security for the repatriation, wages, and essential needs of seafarers in the event of abandonment. Abandonment is defined as failure to repatriate, failure to provide essential needs, or unilateral severance of ties including failure to pay wages for two months. The financial security certificate must be displayed on board. The IMO/ILO Joint Abandoned Seafarer Database publishes incidents; the financial security mechanism has reduced — though not eliminated — the lasting hardship to abandoned crews.
Authoritative source: MLC 2006 ↗
Related
Source: MLC 2006 Standard A2.5.2 (2014 amendments)
High confidence
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