New contracts launched for depositing money
22 November 2017BIMCO has published two new contracts to assist parties when depositing money in a sale and purchase transaction and as security for a claim in a dispute.
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New BIMCO Law & Arbitration clause will clarify arbitration processes
26 June 2020If a contractual dispute escalates and one of the parties want to involve arbitrators, it is essential that notices of commencement of proceedings and the appointment of arbitrators are properly served to the right people. BIMCO’s new Law & Arbitration Clause will address these issues with a provision requiring parties to a contract to clearly identify who are authorised to receive arbitration notices and communication.
BIMCO updates New York and Singapore arbitration clause options
07 July 2016A new edition of BIMCO’s Dispute Resolution Clause has been published. New wording has been added to the US law, New York arbitration option to ensure that non-maritime contracts (such as shipbuilding contracts) are not inadvertently excluded from the scope of the clause.
Poor condition of returned barges triggers BARGEHIRE update
17 February 2020Disagreements between owners and charterers over the cost of repairing damage to redelivered unmanned barges have prompted a review of BARGEHIRE 2008 to help reduce the risk of disputes.
New BIMCO Law & Arbitration Clause under way
15 May 2020BIMCO has started work to develop a new Law & Arbitration Clause. The new clause will provide a short and “one size fits all” approach to dispute resolution, while adding Hong Kong as the fourth named arbitration venue. The addition of Hong Kong reflects its increased popularity as a centre for dispute resolution and that it is currently ranked among the top maritime arbitration centres in the world.
Suez Canal Sea Trials – owners’ or charterers’ costs under time charter?
12 October 2017BIMCO has received numerous questions related to the costs of “sea trials” in the Suez Canal – mainly creating disputes for ships transiting for the first time.
Law and Arbitration Clauses 1998
19 February 2020The latest edition of this clause is the BIMCO Dispute Resolution Clause 2017
Law and Arbitration Clause 2020 New York
06 October 2020The 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 to publish new shortened law and arbitration clause
05 December 2019BIMCO’s Documentary Committee has agreed to carry out a major overhaul of the Dispute Resolution Clause with the aim to shorten and simplify what has become BIMCO’s longest standard clause.
Safety Warranty Prevails: US Supreme Court Rules that Owners can Rely on Absolute Warranty in Frequently Used Safe Berth Clauses
31 March 2020BIMCO, INTERCARGO and INTERTANKO welcome the ruling by the highest court in the United States on 30 March 2020 concluding that the plain meaning of the safe-berth clause in the Athos I dispute includes an unambiguous warranty of safety.
