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 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.
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.
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.
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.
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.
BIMCO's Casper Broustbo talks about SmartCon
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.
Developed for incorporation into time charter parties, this Clause follows the Hill Harmony judgment in respect of permitting the master the liberty to deviate from the customary route or charterers’ ordered route for reasons of safety. In sub-clause (b) the master is required to comply with reporti... Please follow the link to continue reading.
BIMCO Paramount Clause General 1997 The International Convention for the Unification of Certain Rules of Law relating to Bills of Lading signed at Brussels on 25 August 1924 ("the Hague Rules") as amended by the Protocol signed at Brussels on 23 February 1968 ("the Hague-Visby Rules") and as enacted... Please follow the link to continue reading.
