GENCOA is designed using the well-known BIMCO box layout pattern with the form consisting of two main parts: a box layout in Part I and the main terms and conditions in Part II. Part l Part II Preamble Clause 1 - Subject of Contract Clause 2 - Total Quantity/ Number of Shipments ... Please follow the link to continue reading.
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Owners commonly require time charterers to provide a written guarantee underwriting their obligations to pay the owners for all sums due under the agreement. Such guarantees are typically issued by a parent company. A guarantee should provide owners with a greater degree of security; but if it is po... Please follow the link to continue reading.
Introduction The absence of standard market contracts for holding money in an escrow account during a dispute means that parties are left to draft agreements on an individual basis. In order to fill this gap, BIMCO has developed a standard form escrow agreement. The following notes describe the rea... Please follow the link to continue reading.
The following notes explain the scope of the key provisions and clarify how the document is intended to operate. They also provide users with guidance as to the nature and extent of changes made to the WRECKSTAGE 2010 form. If you have any questions about WRECKSTAGE 2024 please contact us at contra... Please follow the link to continue reading.
The following explanatory notes are designed to provide some background information on the clauses of the various parts of the contract and a general overview of the amendments made in this revision. PART I PART II Clause 1 (Outright Sale) Clause 2 (Purchase Price) Clause 3 (Deposit... Please follow the link to continue reading.
Geraldine is a solicitor qualified in England and Wales and recently joined ITIC as Senior Claims Executive. She previously worked in private practice at Ince (London and Paris) and MFB Solicitors for 8 years, handling a wide range of shipping and commercial disputes on behalf of owners, charterers,... Please follow the link to continue reading.
Mark is Partner at Stephenson Harwood, Dubai. He is a skilled litigator with extensive experience in shipping, commodities, and trade finance disputes. Having trained in London and practiced there for the first five years of his career, Mark moved to Dubai in 2017 to focus on building the Firm’s shi... Please follow the link to continue reading.
Format Part I Variable information Annexes 1 and 2 - Important Note Conflict of conditions Part II Clause 1 - Scope of the contract Clause 2 - Delivery/re-delivery Clause 3 - Notices Clause 4 - Cancellation Clause 5 - Agents Clause 6 - Delivery/re-delive... Please follow the link to continue reading.
BIMCO is developing a standard refund guarantee for shipbuilding contracts, including the SAJ and Chinese forms. The current issue is that English law and jurisprudence on guarantees is contradictory, complex and often very difficult to understand from a commercial perspective, and as a result small... Please follow the link to continue reading.
