BIMCO’s 2020 Bunker Clause working group is pushing hard to finish work on two key clauses addressing the global switch to 0.5% sulphur content fuel on 1 January 2020.
BIMCO has published a new clause that can either replace or supplement existing redelivery clauses in time charter parties.
The BIMCO Standard General Average Absorption Clause, for use in marine insurance policies, was updated in 2017 to give effect to the revised York-Antwerp Rules 2016. Further modifications have now been made to streamline the basis for determining insurers’ payments. Details are set out below toget... Please follow the link to continue reading.
With an increasing focus on force majeure due to the COVID-19 outbreak, BIMCO has gathered a drafting team to develop a free-standing force majeure clause for use in a variety of contracts.
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The dedicated subcommittee to examine the implications of the FuelEU Maritime Regulation, part of the EU's “Fit for 55”, has made significant progress drafting a clause for time charter parties as well as for SHIPMAN.
The latest edition of this clause is Ship-to-Ship Transfer Clause for Time Charter Parties 2008.
BIMCO War Cancellation Clause 2004 Either party may cancel this Charter Party on the outbreak of war (whether there be a declaration of war or not) (a) between any two or more of the following countries: the United States of America; Russia; the United Kingdom; France; and the People’s Republic o... Please follow the link to continue reading.
In view of the significant time and costs associated with court and arbitration proceedings, BIMCO has developed a standard clause for inclusion in charter parties and other contracts which makes it possible for the parties to solve disputes via alternative dispute resolution (ADR) and in particular... Please follow the link to continue reading.
BIMCO has started work to develop a new Law & Arbitration Clause. The new clause will provide a short and “one size fits all” approach to dispute resolution, while adding Hong Kong as the fourth named arbitration venue. The addition of Hong Kong reflects its increased popularity as a centre for disp... Please follow the link to continue reading.
