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When BIMCO’s Documentary Committee (DC) met on 11 October in Copenhagen, it approved two new clauses and two revised versions of existing contracts. The new standards are being finalised for publication and will soon be made available for use on SmartCon and on the BIMCO website accompanied by explanatory notes.
Refund guarantees are an integral part of a shipbuilding project. Whilst they are not part of the shipbuilding contract as such, it is unlikely that any ship building contract would be signed if there was no such guarantee for the buyer. The refund guarantee is often regarded as the “financial cornerstone” of a shipbuilding project. Copyright in the BIMCO Refund Guarantee for Shipbuilding Contracts is held by BIMCO.
BIMCO speaks at the 10th Fujairah Bunkering and Fuel Oil Forum.
The industry’s first ever standard ship conversion contract, CONVERSIONCON, complements BIMCO’s other ship repair and construction contracts. It is available for use on BIMCO SmartCon today.
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