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BOXCHANGE 2016

20 September 2016

BOXCHANGE is a standard agreement for container interchange, which is the process of moving containers on a trip basis from a location with a container surplus to a place with container shortage. All terms and conditions are mirrored for both parties as they are simultaneously suppliers and users of containers. The latest edition of this contract is BOXCHANGE 2016. Copyright in BOXCHANGE 2016 is held by BIMCO.

General Average: York-Antwerp Rules 2016

23 May 2016

BIMCO documents currently contain general average clauses that refer either to the York-Antwerp Rules (YAR) 1994 or, to a lesser extent, the YAR 1974. BIMCO’s recommendation in respect of new and revised charter parties, bills of lading and waybills has so far been that general average should be adjusted in accordance with the YAR 1994. A new set of YAR 2016 was adopted by the Assembly of the Comité Maritime International (CMI) at its 42nd International Conference held from 3rd to 6th May 2016 in New York. As the YAR 2016 are considered to represent a set of Rules that BIMCO could refer to in its standard documents, BIMCO’s Documentary Committee decided, at its meeting on 10th May 2016, that all new and revised BIMCO charter parties, bills of lading and waybills will now refer to general average being adjusted in accordance with the York-Antwerp Rules 2016. References to earlier versions of the YAR in existing BIMCO documents will gradually be replaced by a reference to the YAR 2016 in the online versions of these documents.