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.
Inga Marie Frøysa’s creative approach to problem solving has driven the work of BIMCO’s Documentary Committee and helped shape standard contractual agreements for shipping.
Outcomes of IOPC Funds meeting in April-May 2024.
MEMBER CONTENT – login using the orange button at the top of the page to view.
BIMCO’s documentary experts have begun preparing charter party clauses to assist owners and charterers comply with complex new carbon regulations due to come into force in 2023.
MEMBER CONTENT – login using the orange button at the top of the page to view.
Clause 1 - Definitions Clause 2 – Specifications/Grades/Quality Clause 3 – Quantities/Measurements Clause 4 – Sampling Clause 5 – Delivery Clause 6 – Documentation Clause 7 – Price Clause 8 – Payment Clause 9 – Claims ... Please follow the link to continue reading.
MEMBER CONTENT – login using the orange button at the top of the page to view.
Introduction BIMCO’s Hull Fouling Clause for Time Charter Parties was first developed in 2013 to transfer hull cleaning obligations to charterers where, as a result of their trading requirements and employment orders, a vessel is subject to a prolonged period of idling in port or at anchorage that r... Please follow the link to continue reading.
The revision of any standard agreement as internationally recognised and widely used as SALEFORM 93 is not a matter lightly undertaken. The decision to revise SALEFORM 93 was based on feedback from the global ship sale and purchase sector who were asked whether an update was needed and, if so, to wh... Please follow the link to continue reading.
