In an encouraging development for trade digitalisation, BIMCO's "25 by 25" campaign has surpassed its initial target within its first year, achieving a 25.1% adoption rate of electronic bills of lading in iron ore trade.
View BIMCO's extensive library of articles containing help and advice about general average
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.
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.
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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.
Sophie is Legal Director at Hill Dickinson in Newcastle, UK. She advises on a wide range of contentious shipping matters, disputes arising out of charterparties, bills of lading, ship building contracts, and contracts of affreightment. She also has experience advising on general average and salvage ... Please follow the link to continue reading.
New guidance relating to possible inclusion or exclusion of General Average and New Jason Clauses in WINDTIME, SUPPLYTIME 2017 and ASVTIME
The BIMCO Average Bond Clause 2017 has been updated. The main change is in the final paragraph where the shorter limitation period previously applicable to adjustments arising under the York Antwerp Rules 2004 no longer applies. As a result, in all cases rights to claim under the clause have been br... Please follow the link to continue reading.
The BIMCO Average Bond Clause 2007 has been updated. The main change is in the final paragraph where the shorter limitation period previously applicable to adjustments arising under the York Antwerp Rules 2004 no longer applies. As a result, in all cases rights to claim under the clause have been br... Please follow the link to continue reading.
