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Latest news about BIMCO's contracts and clauses: New novation agreements; update on revision of SUPPLYTIME, BARECON and WORLDFOOD charter parties; update on Standard Term Sheet.
The Novation Agreement for the Substitution of Time Charterers is an agreement between the parties to novate the time charter party from the original charterers to the new charterers on terms set out in the agreement. The latest edition of this contract is the Novation Agreement for the Substitution of Time Charterers, issued in 2016. Copyright in the Novation Agreement for the Substitution of Time Charterers is held by BIMCO.
The heads of the maritime, labour and aviation organizations of the United Nations have issued a plea for urgent action on crew changes and for keyworker designation to pave the way for sea and air workers to be relieved and repatriated safely during the Covid-19 pandemic.
BIMCO is revising its popular suite of ship management and related third-party management agreements to reflect current practices in the market. First in line is SHIPMAN 2009, BIMCO’s standard form ship management agreement that may include crew, technical and commercial management as well as insurance arrangements in respect of a ship.
The 10th session of the IMO Sub-Committee on Pollution Prevention & Response from 24 to 28 April discussed biofouling management, reducing the risk of environmental damage from plastic pellet losses, Black Carbon’s impact on the Arctic and the use of Electronic Bunker Delivery Notes (e-BDN) amongst other topics.
The Standard Deposit Escrow Agreement for Ship Sale and Purchase is a contract for depositing money in connection with ship sale and purchase transaction. The latest edition of this contract is the Standard Deposit Escrow Agreement for Ship Sale and Purchase, issued in 2017. Copyright in the Standard Deposit Escrow Agreement for Ship Sale and Purchase is held by BIMCO.
