BIMCO’s Documentary Committee (DC) will have a busy agenda when they meet on 5 December. The DC will consider for approval new sanctions clauses for time and voyage charter parties. They will also review progress on a new edition of GENCON and be asked to provide feedback on other projects ranging f... Please follow the link to continue reading.
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BIMCO Redress Clause 1968 (Code Name: REDRESS) "If one of the parties to this Charterparty has been obliged to make payment or institute defence in respect of a claim by a third party, under a Bill of Lading or otherwise, of a nature which, as between the parties, would have been the responsibility ... Please follow the link to continue reading.
BIMCO Both-to-Blame Collision Clause If the Vessel comes into collision with another ship as a result of the negligence of the other ship and any act, neglect or default of the Master, Mariner, Pilot or the servants of the Carrier in the navigation or in the management of the Vessel, the owners of ... Please follow the link to continue reading.
BIMCO Currency Clause It is mutually agreed that the monthly hire due under Clause ....... is based upon the mean of the present Bank of England's selling and buying rate for the U.S. dollar, viz: $ ...... to the Pound Sterling. Should this mean rate fluctuate it is understood and agreed that the S... Please follow the link to continue reading.
BIMCO's Casper Broustbo talks about SmartCon
A new time charter sanctions clause specifically designed for the container shipping sector has been published by BIMCO. The BIMCO Sanctions Clause for Container Vessel Time Charter Parties 2021 is part of an initiative to create a library of sanctions clauses that reflect the individual needs and c... Please follow the link to continue reading.
Holidays play a fundamental part in shipping. Not only are holidays instrumental in determining if overtime rates have to be paid to stevedores or other port services, but in many charter parties, holidays are excepted from laytime. As such, charterers and owners will have opposing interests related... Please follow the link to continue reading.
Latest news about BIMCO's contracts and clauses: New novation agreements; update on revision of SUPPLYTIME, BARECON and WORLDFOOD charter parties; update on Standard Term Sheet.
The drafting committee that will carry out the first revision of the ASBATANKVOY form in 44 years has kicked off the major task to improve and update the widely used tanker charter party form.
