31 March 2023
The outbreak from time to time of virulent diseases can have significant implications for ship owners and operators. This might include quarantine of a vessel and crew in an area where the disease is prevalent as well as the imposition of restrictions, possibly weeks or months later, in ports remote from the infected region as a precaution against the disease spreading further. The Novel Corona virus is the latest outbreak of a series of contagious disease that may impact shipping operations. In 2015 it was the Ebola virus and 10 years before that the Severe Acute Respiratory Syndrome (SARS) that caused similar concern. It is likely that equally serious strains of existing, or newly identified, diseases will occur from time to time. For this reason BIMCO has chosen to develop a set of comprehensive and clearly worded generic clauses for voyage and time charter parties that can be applied not only to the Novel Corona virus outbreak but to other similar virulent diseases that may occur in the future.
07 December 2023
Infectious or contagious diseases on a pandemic or epidemic scale are likely to continue to confront and challenge the maritime sector. To provide the industry with a contractual solution that addresses the practical and commercial realities, BIMCO has published this 2022 version to replace the previous (2015) clause.
07 December 2023
The outbreak from time to time of virulent diseases can have significant implications for ship owners and operators. This might include quarantine of a vessel and crew in an area where the disease is prevalent as well as the imposition of restrictions, possibly weeks or months later, in ports remote from the infected region as a precaution against the disease spreading further. The Novel Corona virus is the latest outbreak of a series of contagious disease that may impact shipping operations. In 2015 it was the Ebola virus and 10 years before that the Severe Acute Respiratory Syndrome (SARS) that caused similar concern. It is likely that equally serious strains of existing, or newly identified, diseases will occur from time to time. For this reason BIMCO has chosen to develop a set of comprehensive and clearly worded generic clauses for voyage and time charter parties that can be applied not only to the Novel Corona virus outbreak but to other similar virulent diseases that may occur in the future.
07 December 2023
The sanctions landscape has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010. International sanctions regimes are constantly changing with new restrictions being added and new persons and entities being listed. A violation of sanctions restrictions can have severe consequences and in the worst cases can lead to parties being listed as sanctioned parties. Therefore, carefully worded sanctions clauses in charter parties and other contracts are vital for internationally trading companies to help them manage and mitigate their sanctions risk and to enable them to continue to do business while remaining compliant with the various sanctions regimes. This clause is intended for use in all trades except for container trades. A separate sanctions clause for the container trades is under development. This clause was published on 19 December 2019. It replaces the Sanctions Clause for Time Charter Parties 2010 and the Designated Entities Clause for Charter Parties 2013 (which have been combined to make a new single clause for ease of incorporation).
07 December 2023
The sanctions landscape has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010 and the Designated Entities Clause for Charter Parties in 2013. International sanctions regimes are constantly changing with new restrictions being added and new persons and entities being listed. A violation of sanctions restrictions can have severe consequences and in the worst cases can lead to parties being listed as sanctioned parties. Therefore, carefully worded sanctions clauses in charter parties and other contracts are vital for internationally trading companies to help them manage and mitigate their sanctions risk and to enable them to continue to do business while remaining compliant with the various sanctions regimes. The absence of a standard BIMCO sanctions clause for voyage charter parties has resulted in owners and charterers amending the BIMCO Sanctions Clause for Time Charter Parties or drafting bespoke clauses. BIMCO has therefore developed this sanctions clause for use in voyage charter parties so that there is an industry standard clause. It is intended to provide a balanced allocation of the risks posed by sanctions as between owners and charterers. This clause is intended for use in all trades except for container trades. A separate sanctions clause for the container trades is under development. This clause was published on 19 December 2019. It is a sanctions clause that also covers issues related to designated entities previously found in BIMCO’s Designated Entities Clause for Charter Parties 2013. This new sanctions clause should be used instead of the old Designated Entities Clause.
07 December 2023
The sanctions landscape for the container trade has grown increasingly complex over the past decade. To provide the container industry with a bespoke contractual solution that addresses the practical and commercial realities of the liner trade BIMCO has developed a Sanctions Clause for Container Vessel Time Charter Parties 2020.
24 February 2022
This short guide highlights some of the key issues that may affect the obligations and rights of contracting parties following developments in the Russo-Ukrainian conflict, with a focus on BIMCO clauses. In all circumstances, parties should carefully review their contractual terms for current and future fixtures and, if in any doubt, seek legal advice before acting.
24 February 2022
This short guide highlights some of the key issues that may affect the obligations and rights of contracting parties following developments in the Russo-Ukrainian conflict, with a focus on BIMCO clauses. In all circumstances, parties should carefully review their contractual terms for current and future fixtures and, if in any doubt, seek legal advice before acting.
24 November 2022
At its meeting in Copenhagen on 16 November, BIMCO’s Documentary Committee adopted a revised version of its standard Charter Party Guarantee. The Charter Party Guarantee 2022 is an up-to-date, clearly worded and comprehensive time charterers’ guarantee for all sums payable and liabilities under a time charter party.
21 February 2024
The Charter Party Guarantee is a time charterers’ guarantee for all sums payable and liabilities under a time charter party. The latest edition of this contract is the Charter Party Guarantee 2022 . Copyright in the Charter Party Guarantee for Charterers’ Guarantee of Sums Payable and Liabilities under a Time Charter Party is held by BIMCO.
