Section 15-212-7 - Deposit required to guarantee payment for charges incurred by vessels Any agent, charterer, master, operator, or owner who proposes to enter a vessel, other than a small craft, within Kewalo Basin and utilize any of the facilities of the HCDA shall deposit in cash or other legal tender, funds in an amount as determined by the HCDA as being sufficient to guarantee the payment of any and all bills for normal charges incurred by, for, or on behalf of such vessel or its cargo for a period of ninety days. This deposit will not be required for those agents, charterers, masters, operators, or owners who are placed on the HCDA approved credit list following submission of a written application in which they agree to:
(1) Ensure payment of any and all bills for normal charges incurred by, for, or on behalf of such vessel or its cargo (for agents, only during the period while so engaged as the vessel's agent);(2) Provide a bond or irrevocable letter of credit from a bank doing business in Hawaii equivalent to the amount of expected charges to be incurred within a ninety-day period. This requirement is waived for those who have maintained a satisfactory payment record with the State for the immediate preceding two-year period; and(3) Pay interest at the rate of one per cent per month and a delinquent account service charge on payments which are delinquent in accordance with section 15-214-5 and pursuant to section 206E-22, Hawaii Revised Statutes. In this regard the following is applicable: (A) Any invoice unpaid for a period of ten calendar days from the date of invoice is delinquent; or(B) Reports which are submitted on a monthly basis to HCDA or its assigns, not later than thirty days after due date.[Eff DEC 03 2008] (Auth: HRS § 206E-4) (Imp: HRS § 206E-4)