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Explanatory Notes

The following explanatory notes are intended to provide some background to the thinking behind the BIMCO Russian Oil Price Cap Scheme Clause 2024. If you have any questions about the clause that we have not answered in the explanatory notes, please contact us at contracts@bimco.org and we will be h... Please follow the link to continue reading.

BIMCO COVID 19 weekly report dated 11 March 2022

This BIMCO COVID 19 weekly report for the week ending 11 March covers the International Maritime Organization (IMO), Russia, Ukraine, United Kingdom, the International Labour Organization (ILO) and the latest from the World Health Organization (WHO).  Every week, BIMCO summarises measures imposed by... Please follow the link to continue reading.

Explanatory Notes

The clause comprehensively sets out a complete code to address force majeure with a detailed and up to date definition of force majeure events. The rationale is that when a force majeure event occurs, the parties will find themselves in a crisis situation and will benefit from a contractual regime a... Please follow the link to continue reading.

Explanatory notes

The following notes are intended to provide an explanation of the reasoning behind the clauses of the BIMCO Bunker Terms 2018 that are not self-explanatory. Clause 1 - Definitions Clause 2 – Specifications/Grades/Quality Clause 3 – Quantities/Measurements Clause 4 – Sampling Cla... Please follow the link to continue reading.

Background

TOWHIRE is the industry standard contract for ocean towage on a daily hire basis. In the latest revision, it has undergone a thorough revision to clarify ambiguities and has been restructured to make it easier to use. TOWHIRE has been aligned with TOWCON as far as possible to ensure consistency. How... Please follow the link to continue reading.

Explanatory notes

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.

Background

TOWCON is the industry standard contract for ocean towage on a lumpsum basis. In the latest revision, it has undergone a thorough revision to clarify ambiguities and has been restructured to make it easier to use. For example, definitions of Hirer’s and Tugowner’s Groups (SUPPLYTIME-style) have been... Please follow the link to continue reading.