the one for the other or himself personally) to the due performance thereof. 13. Any of the following parties may object to the sum named in Clause as excessive or insufficient, having regard to the services which proved to be necessary in performing the Agreement, or to the value of the property salved at the completion of the operations, and may claim Arbitration, viz.: (1) The owners of the ship, (2) Such other persons together interested as owners and/or Underwriters of any part not being less than one-fourth of the property salved as the Committee of Lloyd's in their absolute discretion may by reason of the substantial character of their interest or otherwise authorise to object, (3) The Contractor, (4) The Committee of Lloyd's-Any such objection and the award upon the arbitration following thereon shall be binding not only upon the objectors but upon all concerned, provided always that the Arbitrators or Arbitrator or Umpire may in case of objection by some only of the parties interested order the costs to be paid by the objectors only, provided also that if the Committee of Lloyd's in their public capacity be objectors they shall not themselves act as Arbitrators or Umpires. 14. If the parties to any such Arbitration or either of them desire to be heard or to adduce evidence at the Arbitration, they shall give notice to that effect to the Secretary of Lloyd's, and shall respectively nominate a person in London to represent them for all the purposes of the Arbitration, and failing such notice and nomination being given within 14 days or such longer period as the said Committee of Lloyd's may allow after the notice of objection, the Arbitrators or Arbitrator or Umpire may proceed as if the parties failing to give the same had renounced their right to be heard or adduce evidence. 15. Any award, notice, authority, order, or other document signed by the Deputy Chairman or Secretary of Lloyd's on behalf of the Committee shall be deemed to have been duly signed by and shall have the same force and effect in all respects as if it had been signed by every member of the Committee. LLOYD'S FORM OF RESPONDENTIA BOND. KNOWN ALL MEN BY THESE PRESENTS that I (the Master of the original Ship or other person having charge of the Cargo and intending to forward it) of am held and firmly bound unto (the Lender) of in the sum of sterling British money, to be repaid to the said his agent, attorney, executors, administrators, or assigns, for which payment I bind myself, my heirs, executors, and administrators, and also bind and hypothecate the cargo of laden or to be laden on board the ship (Forwarding Ship) for the voyage aftermentioned firmly by these presents. to in distress in the course of a voyage from with the above-named cargo, and the said vessel being found incapable of carrying on the said cargo the said (the Master of the original ship or other person having charge of the cargo) determined in the interest of all parties concerned to forward the said cargo to its destination in the ship (Forwarding Ship) AND WHEREAS in order that the said cargo might be so forwarded it became necessary to provide funds to meet the expenses of discharging, warehousing, and reshipping the said cargo and other necessary disbursements on account of the said cargo AND WHEREAS the said being without funds or credit at and urgently requiring the sum of for the said purposes, and having first duly communicated with or attempted to communicate with the owners of the said cargo with a view to obtain funds from them, was compelled to apply for a loan upon respondentia; AND WHEREAS the said who is hereinafter called the said lender proposed and agreed to advance upon such security the said sum of at a maritime premium of for the said voyage, and the said per cent. being unable to procure such advance on more advantageous terms, accepted the said proposal [with the intervention and approval of the proper authorities at ], and agreed so far as he lawfully could or might that the said security should have priority over all other claims upon the said cargo, whether by himself or any other person: AND WHEREAS the said lender has duly advanced the said sum in pursuance of the said agreement: Now THE CONDITION of the above obligation is such that if the said do use his best endeavours to forward or bring the said cargo to its destination without unnecessary delay or deviation, and do within days after the arrival of the said cargo at for every and before the discharge or delivery of the said cargo shall be commenced, well and truly pay or cause to be paid to the said lender or to his order or assigns the said sum of together with the maritime premium thereon at the rate aforesaid, making in all the sum of such payment to be made at the exchange of British pound sterling, or if the said cargo shall be duly dispatched and forwarded on the said voyage without unnecessary delay or deviation, and the said cargo shall by perils of the sea be lost in the course of such voyage. Then the above-written obligation shall be null and void and the said shall be released from all liability in respect of the said sum of PROVIDED ALWAYS and it is hereby agreed and declared that if the said cargo shall in the course of the said voyage by perils of the sea as aforesaid be lost or so much damaged as that it cannot be carried to its said destination, then if any part thereof shall be saved the above security, so far as regards the property saved, shall remain in force, and the said lender or his assigns shall be at liberty forthwith to enforce the same against such property: PROVIDED ALSO, and the said loan is made upon the express condition, that the said lender does not accept or take upon himself any risk or liability on the said voyage except such as is hereby expressly mentioned, and shall not be liable to contribute to or make good any general or particular average loss or expenditure or other charges of a like nature which may happen to or be sustained by or incurred in respect of the said cargo or the said ship upon the said voyage in consequence of perils of the sea or otherwise Signed, sealed, and delivered by the said in the presence of LLOYD'S FORM OF BOTTOMRY BOND. KNOW ALL MEN BY THESE PRESENTS that I of the Port of Master of the Ship of the burthen of tons of sterling his or thereabouts am held and firmly bound unto British money, to be repaid to the said WHEREAS the said ship lately arrived at day of having sustained damages in the course of a voyage from to laden with 19 in distress, and being in want of repairs, supplies and provisions to enable her to continue her said voyage: AND WHEREAS the said being without funds or credit at and urgently requiring the sum of to pay the said repairs, supplies and provisions, and to discharge the lawful and necessary disbursements of the ship at and to release her from her liabilities, and to enable her to continue her voyage, and having first duly communicated or attempted to communicate with the owners of the said ship and of the said cargo with a view to obtain funds from them, was compelled to apply for a loan upon bottomry of his ship, her cargo and freight : AND WHEREAS the said who is hereinafter called the said lender, proposed and agreed to advance upon such security the said sum of at a maritime premium of being per cent. for the said voyage, and the said unable to procure such advance in any quarter on more advantageous terms, accepted the said proposal [with the intervention and approval of the proper authorities at ], and agreed so far as he lawfully could or might that the said security should have priority over all other claims on the said ship, freight, and goods, whether by himself or any other person: AND WHEREAS the said lender has duly advanced the said sum in pursuance of the said agreement: Now THE CONDITION of the above obligation is such that if the said do with the said ship and cargo duly prosecute the said voyage without unnecessary delay or deviation, and do within the arrival of the said ship or cargo at days after and before com mencing to discharge or deliver her cargo there, pay or cause to be paid to the said lender or to his order or assigns the said sum of together with maritime premium thereon at the rate aforesaid, making in all the sum of such payment to be made at the exchange of for every British pound sterling, or if the said ship with the said cargo shall duly prosecute her said voyage without unnecessary delay or deviation, and shall be by perils of the sea lost in the course of such voyage, then this obligation shall be null and void, and the said shall be released from all liability PROVIDED ALWAYS, and in respect of the said sum of it is hereby agreed and declared, that if the said ship shall by perils of the sea as aforesaid be lost or so much damaged as to be unable to complete her said voyage, then if any part of the said ship or cargo or of the said freight shall be saved or earned, the above security, so far as regards the property saved or freight earned, shall remain in force, and the said lender or his assigns shall be at liberty forthwith to enforce the same against such property and freight: PROVIDED ALSO, and the said loan is made on the express condition, that the said lender doth not accept or take upon himself any risk or liability on the said voyage except such as is hereby expressly mentioned, and shall not be liable to contribute to or make good any general or particular average loss or expenditure or other charges of a like nature which may happen to or be sustained by or incurred in respect of the said ship or her cargo or freight upon the said voyage in consequence of perils of the sea or otherwise. Signed, sealed, and delivered by the said in the presence of |