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As adopted at the General Meeting in Athens, May 2019
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Approved by the Documentary Committee of INTERTANKO.
If the Vessel requires bunkers at loading and/or discharging port(s), Charterers have the right of supplying such bunkers provided price, condition and specification are competitive with other suppliers on date of lifting, and such bunkers shall be paid for by Owners by deduction of an agreed amount from freight, when payable.
In any case, if requested by Owners, Charterers guarantee to supply bunkers to Vessel's requirements at the port of ...... with ........ days credit. The price of the bunkers to be ............. per metric ton for fuel and ............. per metric ton for diesel.
In the event that payment has not been received within the credit period Charterers have the right to deduct the cost of bunkers from freight with an additional charge of ........ per metric ton.
The one-stop digital shop for all the standard maritime contracts and clauses you’ll ever need.
If a contractual dispute escalates and one of the parties want to involve arbitrators, it is essential that notices of commencement of proceedings and the appointment of arbitrators are properly served to the right people. BIMCO’s new Law & Arbitration Clause will address these issues with a provision requiring parties to a contract to clearly identify who are authorised to receive arbitration notices and communication.
BIMCO has produced a COVID-19 Crew Change Clause for Time Charter Parties in response to the extraordinary circumstances faced by many owners whose crew have had to remain on board during the COVID-19 “lockdown” for periods often extending beyond their contracts of employment.
The subcommittee set up by BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) to develop a new gas tanker voyage charter party (ASBAGASVOY) has agreed on a final draft which will be presented for adoption by the BIMCO Documentary Committee at its next meeting on 22 September.
BIMCO, Institute of Chartered Shipbrokers and Ocean Technologies Group subsidiary Videotel have partnered to create a high-quality, accessible educational resource to help maritime students across the globe to continue their studies remotely during the coronavirus pandemic.
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.
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