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The threshold for invoking BIMCO’s Infectious or Contagious Diseases (IOCD) Clauses is necessarily set at a high level to avoid misuse. The two clauses, one for time and the other for voyage charters, are designed to respond to extreme outbreaks of diseases and not just “everyday” illnesses.
BIMCO updating Infectious or Contagious Diseases Clauses to address pandemics
BIMCO updating Infectious or Contagious Diseases Clauses to address pandemics
BIMCO has published two clauses that take a balanced approach to termination risk following ship arrest, in response to cases seen in recent years when some dry cargo charterers have tightened procedures to arrest under a charter party.
BIMCO has started work to develop a new Law & Arbitration Clause. The new clause will provide a short and “one size fits all” approach to dispute resolution, while adding Hong Kong as the fourth named arbitration venue. The addition of Hong Kong reflects its increased popularity as a centre for dispute resolution and that it is currently ranked among the top maritime arbitration centres in the world.
BIMCO is merging its sanctions and designated entities charter party clauses, following revisions by a specialist subcommittee, to create a more robust contractual solution for sanctioning.
The latest edition of this clause is the BIMCO Dispute Resolution Clause 2017
BIMCO’s Documentary Committee has agreed to carry out a major overhaul of the Dispute Resolution Clause with the aim to shorten and simplify what has become BIMCO’s longest standard clause.
BIMCO, the world’s largest international shipping organisation, has now launched an anti-corruption clause for charter parties. The new clause will give owners and charterers a contractual platform for cooperative action to resist demands for illegal payments from port officials and others.
