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Explanatory notes

Background to revision The original Radioactivity Risk Clause for Time Charter Parties was drafted in response to the leaking of radioactivity from the Fukushima Nuclear Plant following the earthquake and tsunami that struck the north-east coast of Japan in March 2011. During the past year BIMCO has... Please follow the link to continue reading.

Explanatory notes

Background A declaration of General Average (GA) often leads to time being spent and costs incurred obtaining GA security from individual cargo interests and their insurers. The  purpose of the Average Bond Clause is, as far as possible, to minimise the time it takes to obtain such security and redu... Please follow the link to continue reading.