This clause is intended to be used for US charter parties. The personal contract doctrine has a wide application in the United States. This clause is used to invoke the doctrine of personal contract.
In a landmark decision, BIMCO cemented its move into the domain of ship financing with the Documentary Committee’s approval of a standard term sheet for use in ship financing transactions on 17 November 2016.
BIMCO's ship financing term sheet is now ready for a second round of consultations following a two-day meeting in Copenhagen.
Under a conventional cargo time charter party, the right to suspend performance for non-payment of hire provides owners with a powerful commercial tool to leverage late hire payments. However, based on industry feedback, applying the same sanction under BARGEHIRE is impractical.
The latest edition of this contract is WRECKFIXED 2010.
See the outcomes and decisions from the BIMCO Documentary Committee meeting May 2022
The Sub-Agency Agreement was published by FONASBA (the Federation of National Associations of Ship Brokers and Agents) and approved by BIMCO in1998. It is a contract for the appointment by a general agent of a sub-agent on behalf of a liner principal. The current edition of this contract is FONASBA ... Please follow the link to continue reading.
Today, BIMCO re-launches one of its most enduringly popular publications – Check Before Fixing.
BIMCO President and Chairman of Louis Dreyfus Armateurs, Philippe Louis-Dreyfus opened the Armateurs de France and BIMCO event in Paris on 14 June 2016.
The Standard Naval Exercise Contract, NAVEXCON, was developed for the short-term charter of merchant ships to participate in military navigational exercises. In order to properly train military personnel in navigation techniques and to familiarise them with the handling of modern merchant tonnage, r... Please follow the link to continue reading.
