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Cargo

19 January 2024

The information contained in the cargo databases is provided for general guidance and information purposes only. Whilst every effort is made to ensure that the information contained in the database is accurate and up to date, BIMCO does not warrant, nor does it accept any responsibility or liability for the accuracy or completeness of any of the content of the database or for any loss or damages which may arise from reliance on the information contained in the cargo databases.

Sanctions Clause for Container Vessel Time Charter Parties 2021

08 November 2023

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.

Sanctions Clause for Time Charter Parties 2020

08 November 2023

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).

Sanctions Clause for Contracts of Affreightment (GENCOA) 2022

08 November 2023

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.