Venue-based clause (for use when incorporating an agreed choice of law and arbitration into a charter party or other agreement).
This Contract shall be governed by US maritime law or, if this Contract is not a maritime contract under US law, by the laws of the State of New York. Any dispute arising out of or in connection with this Contract shall be referred to three (3) persons at New York, one to be appointed by each of the parties hereto, and the third by the two so chosen. The decision of the arbitrators or any two of them shall be final, and for the purposes of enforcing any award, judgment may be entered on an award by any court of competent jurisdiction. The proceedings shall be conducted in accordance with the SMA Rules current as of the date of this Contract.
In cases where neither the claim nor any counterclaim exceeds the sum of USD 100,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the SMA Rules for Shortened Arbitration Procedure current as of the date of this Contract.
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BIMCO recognises that there is a growing number of newer maritime arbitration venues offering their services to the industry. To assist users who wish to resolve their disputes using arbitration services outside the main London, New York and Singapore venues, BIMCO has prepared a list of links to alternative arbitration centres where users can find out more information about these venues.
BIMCO providing information and guidance relating to fumigation of cargoes that are shipped under the IMSBC Code, the Grain Code and the IMDG Code.
From time to time, BIMCO is approached by members enquiring about responsibility for the cleaning of a ship’s underwater parts when it has been idle at a port for a long time pursuant to the orders of the time charterers.
New regulation from the International Maritime Organization (IMO), which will require existing ships to reduce carbon emissions, is due to enter into force in just under one year. As compliance will benefit to a large extent from co-operation between shipowners and charterers, BIMCO has developed a new clause to address the changes.
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).
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