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A new edition of BIMCO’s Dispute Resolution Clause has been published. New wording has been added to the US law, New York arbitration option to ensure that non-maritime contracts (such as shipbuilding contracts) are not inadvertently excluded from the scope of the clause.
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
BIMCO’s Documentary Committee has adopted a standard electronic signature clause that allows parties to safely use electronic signatures in their contractual arrangements.
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 latest edition of this clause is the Piracy Clause for Single Voyage Charter Parties 2013 .
BIMCO’s Documentary Committee has adopted a standard electronic signature clause that allows parties to safely use electronic signatures in their contractual arrangements.
In October 2009 BIMCO initiated a project to develop a suite of standard bunker clauses for use in time charter parties. The rationale behind developing the suite is simply to address the ever increasing importance of bunker issues in time charter parties and the need to ensure that the risk of bunker disputes is minimised by clearly worded clauses that reflect legislative developments. The Suite of Clauses was adopted by BIMCO’s Documentary Committee at its meeting in Vancouver in June 2011. The Suite provides clauses covering matters relating to delivery/redelivery bunkers; bunkering operations; sampling; fuel testing programmes; and ECA trading, all of which are matters that are frequently absent from or insufficient in many standard time charter parties. Many older time charter forms contain bunker clauses covering the fundamental principles under the charter, but simply do not contemplate today’s situation where vessels are required to carry and use several grades of fuel and where sampling and testing regimes are an integral part of the process.
Work continues apace to prepare two important carbon clauses for publication in May. The most of challenging of these tasks is the development of a CII Compliance Clause for Time Charter Parties. Technical, commercial and legal experts have been meeting weekly for many months to try to find a practical solution for owners and operators operating under the new CII regime. As of 2023, ships will enter an annually narrowing emissions “corridor” where owners and charterers will need to work closely together to ensure continuing compliance. The BIMCO CII Clause will need to balance the operational restrictions imposed on owners by the low carbon regime against allowing charterers to optimise the ship’s commercial activity during the charter period.
The latest edition of this clause is the ISPS/MTSA Clause for Time Charter Parties 2005
Technical and regulatory aspects of the 2020 global fuel sulphur limit are major concerns to the industry ahead of 1 January 2020. The course focuses on all aspects including bunker clauses.
