FINANCIAL ARRANGEMENTS


 

United Canal Agents, S.A. stresses for the guidance of ship operators, that the Panama Canal Authority as well as the Port Operators stipulate that sufficient funds must be deposited with them - in cash - in advance of vessel's arrival, to cover all expenses.

It is therefore essential to arrange for these funds to be on deposit with our local bank in Panama, by electronic transfer for immediate cash availability prior to the arrival of the vessel at either Panama Canal terminals or ports in the Republic of Panama. The local currency used for payments at the Panama Canal or at any of the Panamanian port terminals is the U.S. Dollar.

This deposit must include not only Panama Canal transit charges, berthing fees and other port charges (if applicable) but must also include sufficient funds to cover agency fees, cash advances to Masters (when required), stores, anticipated repairs, etc.

It is recommended that owners/operators arrange these remittances at least 5 days prior to the expected arrival of the vessel(s) to allow for delays in transmission, local holidays, etc., as vessels that arrive without funds having been received, will have to lay at anchor until this financial requirement is met.

An estimated pro forma account for a Panama Canal Transit and/or Port Operation, including any additional operations such as bunkering, repairs, crew changes, etc. can be provided at your request.  A final disbursement account will be remitted after compiling all bills. 

The following are the wiring instructions to transfer funds to our bank account:

   
Correspondent Bank
 
Name

HSBC BANK USA, N.A.
New York, New York

Swift wire transfer =    Swift Code
    MRMDUS33  (UNIVERSAL)
    Chip wire transfer =    Chips Code ABA
0108                 (U.S.A.)
Fed Wire Transfer =     ABA N°.
    021001088        (U.S.A.)
   
Beneficiary Bank
 
Further credit to
HSBC Bank (Panamá) S.A.
Account N°.
000-14118-6
Universal ID de HSBC Bank (Panamá) S.A.
 415666
   
Final Beneficiary
 
Name
United Canal Agents, S.A.
Account N°:
065-076275-001
Address
 Local 750-D, Williamson Place,
    La Boca, Republic of Panama
   

United Canal Agents