Subclause (a) determines the governing law; the place of arbitration; the applicable arbitration legislation; and the seat of arbitration (where the arbitration takes place in a jurisdiction other than the agreed place of arbitration). It is an “exclusive” arbitration agreement. This is emphasised b... Please follow the link to continue reading.
On 21 March, the subcommittee established to develop a standard term sheet for syndicated ship financing transactions met for the first time to consider how to approach the work ahead.
Join us on Monday 20 February at 14:00 CET and 08:00 (US East Coast) to hear about the newly published BIMCO/FONASBA Agency Appointment Agreement.
In this short video Grant Hunter talks to BIMCO’s head of Support & Advice, Merete Greisen, about answers they give members to the five most frequently asked questions.
The standard term sheet for bilateral ship financing transactions adopted by BIMCO’s Documentary Committee has now been published together with explanatory notes on IDEA. A copy of the term sheet, codenamed SHIPTERM, and explanatory notes are also available.
The revision of BIMCO’s most widely used voyage charter party – GENCON – is entering its completion phase, as the drafting team will meet during the autumn to process invaluable feedback received by the industry over the summer.
The development of a new BIMCO Force Majeure Clause is progressing and continued last week as the subcommittee met to draft a bolt-on provision relating to situations when cargo has been loaded onto the ship and a party declares force majeure.
The development of a new BIMCO Force Majeure Clause is progressing and continued last week as the subcommittee met to draft a bolt-on provision relating to situations when cargo has been loaded onto the ship and a party declares force majeure.
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.
BIMCO New Jason Clause In the event of accident, danger, damage or disaster before or after the commencement of the voyage, resulting from any cause whatsoever, whether due to negligence or not, for which, or for the consequence of which, the Carrier is not responsible, by statute, contract or other... Please follow the link to continue reading.
