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Results for:Managing payment risk
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BIMCO to revise War Risk Clauses
28 November 2022Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risks Clause for Voyage Chartering 2013 (VOYWAR 2013) clauses has begun, and the subcommittee has just had its third meeting.
War risks - Hull insurance against war, piracy, terrorism and related perils
04 April 2022Normally referred to as war risk insurance, this type of insurance is an add-on to the normal hull and machinery insurance. The concept consists of a list of areas for which the insurer assesses that the risks to the ship’s hull are elevated, and for which an added premium will have to be paid.
Non-payment of hire
02 June 2016WHO issues interim guidance for managing outbreak on board ships
26 February 2020World Health Organization (WHO) issues interim guidance on operational considerations for managing coronavirus outbreak on board ships.
Freight payment arrangements
10 November 2017Updated guide on managing maintenance of the ISM Code
16 August 2018IACS has revised Recommendation 74 "Guide to managing maintenance in accordance with the requirements of the ISM Code" in August 2018
Cyber risk and autonomous ships
30 April 2019BIMCO has submitted four papers to the Maritime Safety Committee. The papers discuss how autonomous ships should be tried before they are allowed to operate, and that cyber risk management should be part of the ship’s Safety Management System.
War Risk Clause for Time Charters, 2004 (CONWARTIME 2004)
17 April 2024The latest edition of this clause is the War Risks Clause for Time Chartering 2013 (CONWARTIME 2013)
Payment of hire - NYPE 46
08 March 2019Although the New York Produce Exchange Charter Party 1946 (hereinafter “Nype 46”) is probably the most widely used time charter party form still, it is not a very good form in this day and age. It dates back to 1946 and readers will agree that quite a few things have changed since then! However, it would be naive simply to ignore it.
