Currency Clause
Overview
Currency Clause
BIMCO Currency Clause
It is mutually agreed that the monthly hire due under Clause ....... is based upon the mean of the present Bank of England's selling and buying rate for the U.S. dollar, viz: $ ...... to the Pound Sterling. Should this mean rate fluctuate it is understood and agreed that the Sterling hire payments shall be adjusted upwards or downwards and the amount actually payable in Sterling shall be the hire calculated at the agreed rate in Sterling of ....... multiplied by $ ....... and divided by the new mean rate in force on the due date of payment.
Related Help & Advice
Create or edit a contract
The one-stop digital shop for all the standard maritime contracts and clauses you’ll ever need.
Related publication
Check Before Fixing 2021
This publication builds upon decades of BIMCO’s experience as the world leader in developing standard shipping contracts and clauses and its daily practic...
Related training
Time Charters Masterclass Online
- Online, Online
- 28 February, 2022
Time Charters Masterclass Online is a series of 10 online sessions delivered over 5 days. Each day will run for 120 minutes with a short break in between and wi...
Latest Related News
-
New BIMCO clause clarifies contractual position on AIS switch-off
BIMCO has published a new charter party clause to help tackle potential abuse by sanctions busters of the Automatic Identification System (AIS) which is mandatory for all ships to use under regulations for the Safety of Life at Sea (SOLAS).
-
New Check Before Fixing 2021 book available
You wouldn't navigate a ship without a chart, so why sign a contract without advice? Avoid unnecessary costs you couldn’t have foreseen.
-
BIMCO updating Infectious or Contagious Diseases Clauses to address pandemics
The experiences of operating during the Covid-19 pandemic and the challenges this has created have prompted a review of the BIMCO Infectious or Contagious Diseases Clauses (the "IOCD Clauses”).
-
BIMCO updating Infectious or Contagious Diseases Clauses to address pandemics
BIMCO updating Infectious or Contagious Diseases Clauses to address pandemics
-
New electronic signature clause supports increasing digitalisation in shipping
BIMCO’s Documentary Committee has adopted a standard electronic signature clause that allows parties to safely use electronic signatures in their contractual arrangements.
ELSEWHERE ON BIMCO
Holiday calendar
BIMCO's Holiday Calendar covers general holidays in over 150 countries, plus local holidays and working hours in more than 680 ports around the world.
Learn about your cargo
For general guidance and information on cargo-related queries.
