Flag State definition

Flag State means the Republic of Panama or such other state or territory agreed by the Bank, at the request of the Borrowers, as the “Flag State” of the Vessels for the purposes of the Security Documents;
Flag State means, in relation to a Ship, the country specified in respect of such Ship in Schedule 2 (Ship information), or such other state or territory as may be approved by the Lenders, at the request of the relevant Owner, as being the “Flag State” of such Ship for the purposes of the Finance Documents.
Flag State means the State whose flag the Vessel is flying.

Examples of Flag State in a sentence

The following days are not part of annual leave with pay: public and customary holiday recognised by the Flag State; periods of incapacity from work due to illness, injury or maternity; temporary shore leave granted under employment agreement; and compen- satory leave of any kind72.30 The Convention also stipulates the taking of annual leave.

Any taxes, fees and expenses in connection with the purchase and registration in the Buyers' Nominated Flag State shall be for the Buyers' account, whereas similar charges in connection with the closing of the Sellers' register shall be for the Sellers' account.

Any taxes, fees and expenses in connection with the purchase and registration in the Buyers’ Nominated Flag State shall be for the Buyers’ account, whereas similar charges in connection with the closing of the Sellers’ register shall be for the Sellers’ account.

Ships only operating domestically in coastal waters may therefore not need financial security certificates, but Members are advised to consult their Flag State authority.

As a general rule, if the vessel concerned has been issued with DMLC parts I and II and the Flag State has issued a Document of Maritime Labour Compliance then financial security certificates are required.


More Definitions of Flag State

Flag State means such state or territory designated in writing by the Majority Banks, at the request of a Borrower, as being the “Flag State” of such Borrower’s Ship for the purposes of the relevant Ship Security Documents;
Flag State means Panama or any other country acceptable to the Lenders;
Flag State. , in relation to a ship, means the State whose flag that ship is flying or is entitled to fly; and
Flag State means, unless otherwise indicated:
Flag State. , in relation to a ship, means the State whose flag the ship is entitled to fly;
Flag State means a State whose flag a ship is entitled to fly.
Flag State means, in relation to a Mortgaged Vessel, the country specified in respect of such Mortgaged Vessel in Schedule 2 (Vessel Information), or such other state or territory as may be approved by all the Lenders, at the request of the relevant Owner, as being the "Flag State" of such Mortgaged Vessel for the purposes of the Finance Documents, provided that, subject to Clause 22.1 (Vessel's name and Registration), each of Singapore, Denmark, Norway, United Kingdom, Isle of Man, Bahamas, Bermuda, Panama, Malta, Marshall Islands, Cyprus, Hong Kong and Liberia shall be deemed to be approved by the Lenders as being a Flag State.