The following is a brief set of notes describing some of the thinking and underlying principles behind the standard provisions. The descriptions are given to provide assistance to owners, brokers and others interested in the practical use of this charter party. Preamble Clause 1 (Loading Po... Please follow the link to continue reading.
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Despite significant changes in the maritime industry since the Baltime 1939 was first published, the document has remained one of BIMCO’s most well-known contracts and it still widely used in the short sea trades. In 2001, a minor technical revision of Baltime 1939 was made to replace standard BIMCO... Please follow the link to continue reading.
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Background In October 2009 BIMCO initiated a project to develop a suite of standard bunker clauses for use in time charter parties. The rationale behind developing the suite is simply to address the ever increasing importance of bunker issues in time charter parties and the need to ensure that the r... Please follow the link to continue reading.
Nick Fell, Chairperson of the Documentary Committee, reflects on 2023
The spring meeting of the Documentary Committee, chaired by Francis Sarre, was held in Rome on 6 June. The sixty-strong committee discussed an extensive and diverse range of documentary projects and approved for publication three new contracts and one clause.
Refund guarantees are complex legal documents and must meet the requirements of the issuing banks. BIMCO has, in close co-operation with legal and commercial experts, banks and shipyards, been working to develop a standard refund guarantee which can be used for shipbuilding contracts, such as SAJ.
Documentary Committee Chairman Francis Sarre of CMB has, after six years in the driver’s seat, passed over the reins of BIMCO’s contracts and clauses approval body to Nick Fell of BW Group. Fell takes over as Chairman at a time when the industry needs strong contractual solutions, not least due to t... Please follow the link to continue reading.
