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Slew of new contracts and clauses top BIMCO committee’s upcoming meeting

18 September 2020

Projects for standard contracts and clauses covering almost every sector of the shipping industry will be reviewed by BIMCO’s Documentary Committee (DC) when it meets on 21 and 22 September. The gathering of over 70 documentary experts from around the world will take place online for the first time and two new contracts and two clauses are set to be approved for publication.

BIMCO to publish standard refund guarantee to eliminate legal uncertainty

16 September 2020

BIMCO is developing a standard refund guarantee for shipbuilding contracts, including the SAJ and Chinese forms. The current issue is that English law and jurisprudence on guarantees is contradictory, complex and often very difficult to understand from a commercial perspective, and as a result small changes made by negotiators can have wide reaching commercial consequences.