On 21 March, the subcommittee established to develop a standard term sheet for syndicated ship financing transactions met for the first time to consider how to approach the work ahead.
The standard term sheet for bilateral ship financing transactions adopted by BIMCO’s Documentary Committee has now been published together with explanatory notes on IDEA. A copy of the term sheet, codenamed SHIPTERM, and explanatory notes are also available.
The revision of BIMCO’s most widely used voyage charter party – GENCON – is entering its completion phase, as the drafting team will meet during the autumn to process invaluable feedback received by the industry over the summer.
CREWMAN A (Cost plus fee) 2009 is a standard crew management agreement whereby the owners appoint the crew managers as agents to perform crew management services in respect of a ship on a cost plus fee basis. The latest edition of this contract is CREWMAN A (cost plus fee) 2009. Copyright in CREWMAN... Please follow the link to continue reading.
The YARA Bill of Lading was developed to be used for shipments under the YARACHARTER. The latest edition of this bill of lading is the YARA bill of lading 2006.
With an increasing focus on force majeure due to the COVID-19 outbreak, BIMCO has gathered a drafting team to develop a free-standing force majeure clause for use in a variety of contracts.
BIMCO New Jason Clause In the event of accident, danger, damage or disaster before or after the commencement of the voyage, resulting from any cause whatsoever, whether due to negligence or not, for which, or for the consequence of which, the Carrier is not responsible, by statute, contract or other... Please follow the link to continue reading.
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