Explanatory Notes
BIMCO members have access to the supporting explanatory notes.
The Laytime Definitions for Charter Parties have been developed to provide practitioners with a set of meanings of commonly used words and phrases. The objective is to help reduce disputes about party intentions in a market where fixtures are often concluded on the basis of a recap message and listed amendments, without the exchange or return of draft contracts. These provisions have been developed for incorporation into charter parties. The latest edition of these definitions is the Laytime Definitions for Charter Parties 2013.
Laytime & Demurrage Masterclass
5-6 June, London, UK
This expert-led masterclass delivers practical, in-depth training on the key principles for both dry and wet trades. Learn how to apply legal concepts and take a strategic, step-by-step approach to laytime calculations, helping you avoid costly disputes and boost profitability across your daily operations.
