Flighted Spongy Moth Complex Moth Clause for Time Charter Parties 2023

BIMCO has developed a generic Flighted Spongy Moth Complex Clause for Time Charter Parties that provides a commercial solution focussing on the basic obligations and responsibilities of the owners and the charterers. This clause was renamed from Asian Gypsy Moth Clause for Time Charter Parties in March 2023 Not all countries have introduced the new name yet, but BIMCO has decided to standardise on Flighted Spongy Moth Complex, abbreviated to FSMC.

Sanctions Clause for Container Vessel Time Charter Parties 2021

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.

Sanctions Clause for Contracts of Affreightment (GENCOA) 2022

The sanctions landscape has grown increasingly complex. 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 contracts of affreightment 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.

Sanctions Clause for Time Charter Parties 2020

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).

Sanctions Clause for Voyage Charter Parties 2020

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.

Ukraine situation – contractual implications

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.

Asian Gypsy Moth has been renamed to Flighted Spongy Moth Complex

A number of countries enforce phytosanitary restrictions which include measures against what until recently was called Asian Gypsy Moth.

Flighted Spongy Moth Complex & phytosanitary restrictions

Asian Gypsy Moth 2022 season – be prepared for longer Specified Risk Periods and a name change

The name of "Asian Gypsy Moth" is under review. Additionally, Canada and the United States have issued a joint notice amending the risk periods. ** ASIAN GYPSY MOTH IS NOW KNOWN AS FLIGHTED SPONGY MOTH COMPLEX ** Not all countries have introduced the new name yet, but BIMCO has decided to standardise on Flighted Spongy Moth Complex, abbreviated to FSMC.

Asian Gypsy Moth Clause for Time Charter Parties 2015

ASIAN GYPSY MOTH IS NOW KNOWN AS FLIGHTED SPONGY MOTH COMPLEX ** SEE THE UPDATED FLIGHTED SPONGY MOTH COMPLEX CLAUSE ** Not all countries have introduced the new name yet, but BIMCO has decided to standardise on Flighted Spongy Moth Complex, abbreviated to FSMC.