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New BIMCO clause aims to curb AIS abuse

02 February 2021

BIMCO is working on a charter party clause to help tackle potential abuse by sanctions busters of the Automatic Identification System (AIS) which is mandatory for all ships to carry under SOLAS.

New terminal conditions clause takes balanced approach

17 April 2019

A new, “ Terminals Conditions of Use ” clause gives owners and operators in the oil, gas, dry bulk and container trades the means to respond to unreasonable terms imposed by terminals as a condition of using their facilities.

BIMCHEMTIME Vetting and Inspection Clause 2006

18 October 2023

The development of the Vetting and Inspection Clause formed part of the general task of modernising the 1984 BIMCHEMTIME charter party. However, recognising the potential benefit to the chemical industry of coming up with a good standard vetting and inspection clause, BIMCO decided to prepare the BIMCHEMTIME Vetting and Inspection Clause as a free-standing standard clause that can be incorporated into other chemical carrier time charter parties. The Vetting and Inspection Clause forms a cornerstone of any time charter party in the chemical trade. BIMCO’s Vetting and Inspection Clause for Chemical Carriers is an attempt to deal in a reasonable way with a fundamentally unreasonable situation.

Contract Authenticity Clause

18 October 2023

The purpose of the BIMCO Contract Authenticity Clause is to encourage parties issuing contracts based on a BIMCO form to agree to use one obtained from an authorised source (such as SmartCon).

Law and Arbitration Clause 2020 London

07 December 2023

The Law and Arbitration Clause 2020 replaces the Dispute Resolution Clause 2017. There are versions available for four named arbitration venues – London, New York, Singapore and Hong Kong. The mediation provision found in earlier versions of this clause has been removed and made into a free standing clause that parties can incorporate by choice. The Law and Arbitration Clause 2020 consists of five short subclauses. Adopted 21 September 2020

BIMCO Force Majeure Clause 2022 launched

10 January 2022

The unforeseen events of recent years have demonstrated how beneficial it can be for parties to contractually “expect the unexpected” – whether the event is extraordinary weather conditions caused by climate change or a pandemic. To help parties prepare for the unexpected, BIMCO has published a new clause

Electronic Signature Clause 2021

18 October 2023

The purpose of the Electronic Signature Clause 2021 is to enable the parties to a contract to sign the contract, and any documents to be signed in connection with it, electronically. The clause can be used in any type of contract.