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Average Bond Clause 2018

04 July 2017

The BIMCO Average Bond Clause 2017 has been updated. The main change is in the final paragraph where the shorter limitation period previously applicable to adjustments arising under the York Antwerp Rules 2004 no longer applies. As a result, in all cases rights to claim under the clause have been brought into line with the six-year limitation period under English law. A number of minor editorial improvements have also been made. The clause is for use only in contracts of carriage where General Average is to be adjusted, stated and settled according to the York-Antwerp Rules 2016. If the York-Antwerp Rules 1994 apply to the underlying contract, the BIMCO Average Bond Clause 2007 must be used. This clause was originally published in June 2005, amended in October 2007, 2017 and 2018.

Average Bond Clause 2007

04 July 2017

The BIMCO Average Bond Clause 2007 has been updated. The main change is in the final paragraph where the shorter limitation period previously applicable to adjustments arising under the York Antwerp Rules 2004 no longer applies. As a result, in all cases rights to claim under the clause have been brought into line with the six-year limitation period under English law. A number of minor editorial improvements have also been made. The clause is for use only in contracts of carriage where General Average is to be adjusted, stated and settled according to the York-Antwerp Rules 1994. If the York-Antwerp Rules 2016 apply to the underlying contract, the BIMCO Average Bond Clause 2018 must be used. This clause was originally published in June 2005, amended in October 2007, 2017 and 2018.

Nick Barber

24 October 2018

Nick is Partner at Stephenson Harwood. Nick specialises in disputes arising from casualties and has extensive experience of handling the “front end” investigation, both from the office and on site. In particular, Nick handles claims following collisions, explosions and fires, groundings, salvage and general average, coverage advice and charterparty disputes.

Paul Dean

20 December 2019

Paul is Global Head of Shipping at HFW managing 200 specialist shipping lawyers across a worldwide network of 20 offices. Paul specialises in offshore and marine, focusing mainly on charter parties, bills of lading, shipbuilding, rig disputes, collisions, fire and explosion, salvage, general average, groundings, total loss, towage, seismic and limitation. He regularly speaks at and chairs offshore vessel conferences and has been on the BIMCO panel for their “Using SUPPLYTIME” course for over 10 years, the review committee for the SUPPLYTIME 2005 revision and on the drafting committee for BIMCO’s new standard form Offshore Dismantling Services Agreement DISMANTLECON. Experience gained working for an International Group P&I club specialising in offshore vessels, enables Paul to combine practical understanding with the legal role. Paul  is identified in the Legal Directories as one of the leading individuals in his fields and in 2019 was elected by Lloyd's List as one of the top 10 maritime lawyers and one of the 100 most influential people in the maritime industry. Paul has also contributed to the two most recent editions of “The Law Of Tug and Tow and Offshore Contracts” by Simon Rainey Q.C. – “...Paul Dean of HFW, one of the leading and busiest practitioners in the field of offshore contracts and a veritable guru on the topic of the BIMCO forms, particularly "Supplytime", who as before very kindly gave me the benefit of his great experience  and practical insights and with whom once again I have had the great good fortune to work on a host of tricky problems on the various BIMCO forms". 

Chris Garley

26 July 2019

Chris joined HFW in 2008 and, after training for a period in Hong Kong, qualified into HFW’s London Shipping Litigation team in 2010, advising on both “wet” and “dry” disputes. His primary focus is on issues arising from marine casualties including collisions, fires and groundings. In recent years, Chris has been heavily involved in a number of high profile containership casualties arising from carriage of declared and undeclared dangerous goods. In doing so, he has acted for Owners and also for Charterers advising on all aspects of the casualty response including issues including of limitation of liability, jurisdiction, salvage and general average as well as the underlying liabilities, both in tort and related contracts of carriage/VSA/slot charter arrangements, including unseaworthiness and unsafe port claims. In 2016 Chris increased his “dry” experience by completing a secondment to the legal department of a major German power company based in the UK, advising the freight trading and chartering operations desks. During that period he advised on a range of issues from the initial chartering process, through to speed and performance claims, bill of lading disputes, sales contracts, letters of indemnity, and off-spec cargo claims. Christopher is qualified in England and Wales.

Jean Koh

07 March 2019

Jean is a partner at HFW in London and specialises in shipping litigation, focusing on contractual shipping disputes including charter parties, bills of lading, cargo claims, commodities/trade disputes, ship sale and purchase disputes, bunker disputes and shipbuilding disputes. She represents owners, charterers, shipyards and their insurers based internationally but has a geographical focus on the Japanese market, having worked in Tokyo for 6 months there. On the casualty side, Jean also handles wet shipping disputes, in particular fire and explosions on container vessels due to undeclared dangerous cargoes and/or engine explosions, groundings on reef, unsafe port disputes, crane collapses, damage caused by sulphur cargo, liquefaction of cargo and general average incidents. Jean has worked at the HFW in Shanghai and Pireaus.

Nicholas Kazaz

01 March 2019

Nicholas Kazaz is an Associate at HFW, where he focuses on international commercial dispute resolution, specialising in offshore oil & gas, energy, and marine. Nicholas handles disputes arising from installation contracts, charter parties, bills of lading, shipbuilding, rig disputes, towage, collisions, salvage, general average, groundings, total loss, and limitation. Among others, he acts for and advises shipowners, charterers, energy companies, contractors, shipyards, ship managers, and P&I Clubs. Nicholas has particular experience of drafting and negotiating a range of contracts in the shipping and offshore sectors, including BIMCO SUPPLYTIME, TOWCON and BARGEHIRE and other standard contracts, as well as bespoke OSV vessel charter parties. Since joining HFW, Nicholas has undertaken secondments in Australia (to HFW's Perth Office with a focus on the Offshore / Oil & Gas / Commodities sectors), to the in-house legal team of a major international tanker owner, to two International Group P&I Clubs / Insurers, and a leading insurance broker. Nicholas is qualified in England and Wales.