The subcommittee set up to develop a syndicated version of SHIPTERM, BIMCO’s new standard bilateral term sheet, made good progress at its second meeting on 7-8 September in London.
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.
SHIPTERM S is a standardised term sheet intended for use in a syndicated, secured term loan ship financing transaction. The term sheet has been prepared for use in transactions between a syndicate of lenders and one or more affiliated borrowers. The latest edition of this contract is SHIPTERM S, iss... Please follow the link to continue reading.
What's on the agenda at the upcoming BIMCO Documentary Committee meeting?
GENCOA A – Explanatory notes OVERVIEW GENCOA A 2022 is a standard contract of affreightment for dry bulk cargoes. It is one of two versions of GENCOA revising the latest version of the contract issued in 2004: GENCOA A - a framework contract that can be used with different voyage charter parties ... Please follow the link to continue reading.
A buyer’s payment instalments are at risk under a shipbuilding contract until the shipyard delivers the ship. To safeguard against the risk of the shipyard defaulting or becoming insolvent it is common practice to cover this risk with a refund guarantee issued by a bank. BIMCO’s Documentary Committe... Please follow the link to continue reading.
BIMCO’s new standard term sheet for bilateral ship financing transactions, SHIPTERM, will be the focus of two seminars taking place in Singapore on 24 May and Hong Kong on 25 May.
The latest edition of this waybill is COMBICONWAYBILL 2016.
Singapore acts swiftly to assist shipowners to comply with their statutory obligations during this coronavirus outbreak.
BIMCO Non-Payment of Hire Clause for Time Charter Parties 2006 (a) If the hire is not received by the Owners by midnight on the due date, the Owners may immediately following such non-payment suspend the performance of any or all of their obligations under this Charter Party (and, if they so suspe... Please follow the link to continue reading.
