BIMCO President comments on standard term sheet
17 June 2016BIMCO President and Chairman of Louis Dreyfus Armateurs, Philippe Louis-Dreyfus opened the Armateurs de France and BIMCO event in Paris on 14 June 2016.
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BIMCO President and Chairman of Louis Dreyfus Armateurs, Philippe Louis-Dreyfus opened the Armateurs de France and BIMCO event in Paris on 14 June 2016.
BIMCO members are invited to provide their views on the new standard contract of affreightment - GENCOA.
The Documentary Committee, under the chairmanship of Mr Francis Sarre, met in Copenhagen on 17 November in Copenhagen for its regular autumn meeting. Following two years’ intensive work involving owners, lawyers and financial institutions, a new Standard Term Sheet for Bilateral Financing was adopted.
BIMCO has revised and updated its two standard ship repair contracts: REPAIRCON, which is for major work at a repair yard; and MINREPCON, which is for minor repair work that can be done by contractors when a ship is in port.
BIMCO is developing a standard refund guarantee for shipbuilding contracts, including the SAJ and Chinese forms. The current issue is that English law and jurisprudence on guarantees is contradictory, complex and often very difficult to understand from a commercial perspective, and as a result small changes made by negotiators can have wide reaching commercial consequences.
The Standard Deposit Escrow Agreement for Ship Sale and Purchase is a contract for depositing money in connection with ship sale and purchase transaction. The latest edition of this contract is the Standard Deposit Escrow Agreement for Ship Sale and Purchase, issued in 2017. Copyright in the Standard Deposit Escrow Agreement for Ship Sale and Purchase is held by BIMCO.
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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