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General Average Absorption Clause 2018

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.

General Average Clause

BIMCO General Average clause General Average shall be adjusted, stated and settled according to the York-Antwerp Rules 2016 in London unless another place is agreed in the Charter. Cargo’s contribution to General Average shall be paid to the Carrier even when such average is the result of a fault, n... Please follow the link to continue reading.

Changes to specialist General Average Clauses

At its meeting in Rome in June 2017, the Documentary Committee agreed that specialist provisions dealing with the mechanics of General Average should be modified to ensure consistency with user requirements and market arrangements.

Paramount Clause General 1997

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.