Reasonable Bond
A6. Public international law of the seaDefinition
Required for release of a vessel under UNCLOS Article 292 (Saiga, Camouco).
Under UNCLOS Article 292 a detained ship and its crew must be released promptly on the posting of a reasonable bond or other financial security, and the flag state may apply to ITLOS if the detaining state refuses. The Tribunal assesses reasonableness against the factors set out in the Camouco case (2000): the gravity of the alleged offences, the penalties imposable, the value of the ship and cargo, and the amount and form of the bond demanded. In Camouco, Monte Confurco, and Volga, the bonds set by the coastal state were held unreasonable.
Source: UNCLOS Art.292; Camouco ITLOS 2000