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FONASBA and BIMCO are pleased to announce the launch of a new Agency Appointment Agreement document.
The NATO Shipping Centre maintains a 24/7/365 oversight of security developments in the Euro-Atlantic area, the Mediterranean Sea, and the Black Sea. Shipowners are reminded of the Voluntary Reporting Scheme for the Mediterranean Sea.
The sanctions landscape has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010. International sanctions regimes are constantly changing with new restrictions being added and new persons and entities being listed. A violation of sanctions restrictions can have severe consequences and in the worst cases can lead to parties being listed as sanctioned parties. Therefore, carefully worded sanctions clauses in charter parties and other contracts are vital for internationally trading companies to help them manage and mitigate their sanctions risk and to enable them to continue to do business while remaining compliant with the various sanctions regimes. This clause is intended for use in all trades except for container trades. A separate sanctions clause for the container trades is under development. This clause was published on 19 December 2019. It replaces the Sanctions Clause for Time Charter Parties 2010 and the Designated Entities Clause for Charter Parties 2013 (which have been combined to make a new single clause for ease of incorporation).
The sanctions landscape has grown increasingly complex. International sanctions regimes are constantly changing with new restrictions being added and new persons and entities being listed. A violation of sanctions restrictions can have severe consequences and in the worst cases can lead to parties being listed as sanctioned parties. Therefore, carefully worded sanctions clauses in contracts of affreightment are vital for internationally trading companies to help them manage and mitigate their sanctions risk and to enable them to continue to do business while remaining compliant with the various sanctions regimes.
The sanctions landscape for the container trade has grown increasingly complex over the past decade. To provide the container industry with a bespoke contractual solution that addresses the practical and commercial realities of the liner trade BIMCO has developed a Sanctions Clause for Container Vessel Time Charter Parties 2020.
The agency appointment agreement provides a set of standard provisions for appointing an agent for a one-off port call. The agreement is concluded between the agent and a shipowner, ship operator, charterer or manager, and it sets out the services to be performed and the remuneration to be paid. This contract was published 9 January 2017 and is the latest edition. Copyright in the Agency Appointment Agreement is held by FONASBA. The publishers are BIMCO and FONASBA.
Join us on Monday 20 February at 14:00 CET and 08:00 (US East Coast) to hear about the newly published BIMCO/FONASBA Agency Appointment Agreement.
On 20 February 2017, BIMCO and FONASBA broadcasted a webinar to discuss the recently published Agency Appointment Agreement.
Join us on Thursday 5 April at 9.00 CET (10.00 CEST) to hear about the newly published BIMCO/FONASBA General Agency Agreement.
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