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Explanatory notes
Introduction General background Special observations Part I Index Part II Clause 1 - Period of Charter Party and Delivery Clause 2 - Owners' Undertaking Clause 3 - Trading Limits Clause 4 - Permitted Cargoes Clause 5 - Owners' Obligations Clause 6 - Charterers' Obligat... Please follow the link to continue reading.
Explanatory notes
These Explanatory Notes set out the reasoning behind the clauses that are not self-explanatory. The BARECON bareboat charter was first published in 1974. It has become one of BIMCO’s most successful and widely used charter parties and was last updated in 2001. Although BARECON is rarely the subject ... Please follow the link to continue reading.
Explanatory notes
Background A declaration of General Average (GA) often leads to time being spent and costs incurred obtaining GA security from individual cargo interests and their insurers. The purpose of the Average Bond Clause is, as far as possible, to minimise the time it takes to obtain such security and redu... Please follow the link to continue reading.
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Explanatory notes
The following notes provide a background to the thinking behind many of the provisions of the charter party and are provided as guiding notes to users: Part I Part II Clause 1 (Warranty) Clause 2 (Voyage) Clause 3 (Delay in giving Loading/Discharging Orders) Clause 4 (Presentation... Please follow the link to continue reading.
Explanatory notes
Special observations Clause l - Definitions Clause 2 - Period of Charter Party Clause 3 - Delivery Clause 4 - Mobilisation and/or Demobilisation Clause 5 - Substitution Clause 6 - Time for Delivery Clause 7 - Cancelling Clause 8 - Trading Limits Clause 9 -... Please follow the link to continue reading.
Explanatory notes
BIMCO’s widely-used standard barge bareboat charter party was first formulated and published in 1994. It is part of a suite of offshore and marine construction industry related standard documents produced by BIMCO, which includes SUPPLYTIME, TOWCON, TOWHIRE, HEAVYCON and PROJECTCON. BARGEHIRE is des... Please follow the link to continue reading.
Explanatory notes
Special observations PART II Clause 1 (Definitions) Clause 2 (Charter Period) Clause 3 (Delivery) Clause 4 (Time for Delivery) Clause 5 (Cancelling) Clause 6 (Trading Restrictions) Clause 7 (Surveys on Delivery and Redelivery) Clause 8 (Inspection) Clause 9 (Inve... Please follow the link to continue reading.
Explanatory notes
Introduction The absence of standard market contracts for holding money in an escrow account during a dispute means that parties are left to draft agreements on an individual basis. In order to fill this gap, BIMCO has developed a standard form escrow agreement. The following notes describe the rea... Please follow the link to continue reading.
