BIMCO’s market analysis team spearheads the launch of a multimedia page on the BIMCO website, where videos and soundbites of the latest market analysis and comments will be available.
A buyer’s payment instalments are at risk under a shipbuilding contract until the shipyard delivers the ship. To safeguard against the risk of the shipyard defaulting or becoming insolvent it is common practice to cover this risk with a refund guarantee issued by a bank. BIMCO’s Documentary Committee has adopted a clearly worded standalone refund guarantee that will assist parties in their shipbuilding projects.
BIMCO has produced its own ship sale and purchase agreement - SHIPSALE 22 – with the aim of making the authoring, negotiation and execution process faster and simpler, and to provide the market with a modern and comprehensive alternative to existing sale and purchase forms.
BIMCO’s Documentary Committee has adopted a standard electronic signature clause that allows parties to safely use electronic signatures in their contractual arrangements.
BIMCO has issued two new standard contracts of affreightment (COA) for dry bulk cargoes – one that can be used with different voyage charter parties and another that includes all terms and provisions usually found in a COA.
BIMCO’s Documentary Committee has adopted a standard electronic signature clause that allows parties to safely use electronic signatures in their contractual arrangements.
BIMCO’s Documentary Committee has approved a new standard contract for security escort vessels (SEVs). The standard is a balanced contractual framework for SEVs that accompany merchant ships in high threat areas such as the Gulf of Guinea which has recently seen a rise in piracy activity as the dry season has begun.
BIMCO’s new DISMANTLECON contract, the first global standard contract designed for the dismantling and removal of offshore structures in the energy sector, is now available and aims to provide a balanced set of terms and conditions to both parties in the process.
BIMCO’s Documentary Committee has approved a revised version of the Continent Grain Charter Party, SYNACOMEX, to reflect changes in the geopolitical landscape following events including the COVID-19 pandemic and the war in Ukraine. The revised charter party now includes BIMCO’s anti-corruption clause and updated versions of the war risks and sanctions clauses.
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