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BIMCO has published a charter party clause promoting the use of the IMO’s data model framework. The publication is an extension of BIMCO’s strategic objective to encourage greater efficiency and harmonisation in the ship-shore interface.
BIMCO is working on a charter party clause to help tackle potential abuse by sanctions busters of the Automatic Identification System (AIS) which is mandatory for all ships to carry under SOLAS.
BIMCO has published a Contract Authenticity Clause to encourage parties issuing contracts based on a BIMCO form to agree to use one obtained from an authorised source such as SmartCon.
Users of BIMCO’s WINDTIME, SUPPLYTIME 2017 and ASVTIME charter parties should be aware of new guidance relating to possible inclusion or exclusion of General Average and New Jason Clauses.
The subcommittee tasked with the revision of BIMCO’s suite of third party management contracts continues its work to develop a standard Emission Trading Scheme Allowances (ETSA) Clause for use with the popular ship management agreement SHIPMAN. The aim is to present a draft standalone clause for possible adoption by BIMCO’s Documentary Committee when it meets next in Copenhagen on 11 October.
BIMCO has produced two clauses for time charter parties to address key contractual issues relating to the switch to fuel with a maximum sulphur content of 0.50% as of 1 January 2020. The two clauses are the 2020 Marine Fuel Sulphur Content Clause, which replaces the BIMCO Fuel Sulphur Content Clause 2005, and the 2020 Fuel Transition Clause, which deals with switching between fuel with a maximum sulphur content of 3.50% and fuel with a maximum sulphur content of 0.50% by 1 January 2020. Both clauses should be incorporated into time charter parties. This clause was published on 10 December 2018.
The Law and Arbitration Clause 2020 replaces the Dispute Resolution Clause 2017. There are versions available for four named arbitration venues – London, New York, Singapore and Hong Kong. The mediation provision found in earlier versions of this clause has been removed and made into a free standing clause that parties can incorporate by choice. The Law and Arbitration Clause 2020 consists of five short subclauses. Adopted 21 September 2020
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.
