BIMCO is developing a clause dealing with cyber security risks and incidents that might affect the ability of one of the parties to perform their contractual obligations.
Anna Wollin, Manager, Contracts and Clauses at BIMCO, says that many of the disputes that commonly occur when a ship is redelivered at the end of a time charter could be avoided by using clearer wording in contracts.
This clause is one from a suite of three clauses developed by the subcommittee for Contracts of Affreightment (COAs). The objective was to provide industry stakeholders with the flexibility to choose a procedure suitable for their specific trade and business. You should consider whether this ETS – E... Please follow the link to continue reading.
A new standard Cyber Security Clause requiring the parties to implement cyber security procedures and systems to help reduce the risk of an incident, is now available from the BIMCO website.
The sanctions landscape has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010 and the Designated Entities Clause for Charter Parties in 2013. International sanctions regimes are constantly changing with new restrictions being added and new persons... Please follow the link to continue reading.
BIMCO has published a Contract Authenticity Clause to encourage parties issuing contracts based on a BIMCO form to agree to use one obtained from an authorised source such as SmartCon.
This clause was published on 19 May 1981.
This Charter Party shall be governed by Japanese Law. Any dispute arising from this Charter Party shall be referred to arbitration held in Tokyo by the Tokyo Maritime Arbitration Commission (TOMAC) of The Japan Shipping Exchange, Inc. in accordance with the Rules of TOMAC and any amendment thereto, ... Please follow the link to continue reading.
Signing charter parties and other maritime contracts electronically is an effective and easy way to conclude agreements which has the advantage of saving time and costs and reducing the risk of fraud.
The latest edition of this clause is the Piracy Clause for Consecutive Voyage Charter Parties and COAs 2013.
