Charter Party Guarantee 2022

The Charter Party Guarantee 2022 is a time charterers’ guarantee for all sums payable and liabilities under a time charter party. The latest edition of this contract is the Charter Party Guarantee, issued in 2022. It revises the 2012 version of the Guarantee. BIMCO recommends that the Owners request the Guarantor to deliver to the Owner a legal opinion from a lawyer qualified in the place of incorporation of the Guarantor confirming that the Guarantor has the necessary power and has taken all necessary corporate actions and obtained all necessary approvals (including exchange control approvals) to perform its obligations under this Guarantee. Copyright in the Charter Party Guarantee 2022 is held by BIMCO. BIMCO would like to thank the drafting committee for their commitment to the project and their considerable time and efforts in producing the Charter Party Guarantee: Ian Gaunt, Arbitrator (chairperson) Charlotte Grandjean, CMA-CGM Ralf van der Zalm, Anthony Veder Chartering B.V. Peter Eckhardt, Martini Chartering Suzanne Byrne, West Richard Lord KC, Brick Court Chambers The following explanatory notes are intended to explain the drafting team’s thinking behind some of the key clauses. This document is intended as a living document and will be expanded/adjusted based on relevant questions from users of the Guarantee.

Novel Coronavirus outbreak – check your charter party terms

An outbreak of a virulent disease such as the Novel Coronavirus can have potentially significant implications for ship owners and operators.

Piracy Clause for Consecutive Voyage Charter Parties and COAs 2013

Just in Time Arrival Clause for Voyage Charter Parties 2021

The Just in Time Arrival Clause 2021 is for use in voyage charter parties where owners and charterers have agreed to operate a just in time arrival scheme that permits charterers to ask owners to optimise the speed of the ship to arrive at a destination at an agreed time. The clause takes a generic approach so that it can also form part of different vessel and port management schemes around the world. It may also be used together with the BIMCO Port Call Data Exchange Clause 2021 which has been designed to encourage wider application and use of the IMO data model framework for the harmonised exchange of ship/port information.

Charter party advice on Danish Straits pilotage

Major revision of NYPE time charter party

The first revision of the New York Produce Exchange Time Charter (NYPE) since 1993 now published

Laytime exceptions - wind

Representations in the charter party

Non-Payment of Hire Clause for Time Charter Parties 2006

Time Charters Masterclass

The BIMCO Masterclass is designed to provide you with a comprehensive understanding of the principles of time chartering. The course will utilise case studies as the primary learning tool to allow you to develop a knowledge of the practical aspects of time chartering and its application in the daily operation of vessels. On the first day, we will begin with a general introduction to the practical aspects of time chartering seen from both the perspective of the owners and charterers. We will discuss how to identify and negotiate the best terms for a particular charter, and how to create and manage the charter party before and during the fixture. This part of the course will also cover disputes related to various daily issues, including seaworthiness and the obligation to issue and comply with voyage and employment orders. One of the key areas of dispute is the description of the vessel. The charter party will include a description of the vessel, and if the vessel does not meet these specifications, the charterer may claim damages from the owner. Another area of dispute is performance claims. The charter party will typically include provisions relating to the vessel's performance, such as speed and fuel consumption. If the vessel fails to meet these performance targets, the charterer may claim damages from the owner. Finally, we will discuss the disputes concerning the duration of the charter, especially in relation to redelivery, where disputes and discussions often occur concerning the vessel's last voyage. On day 2, we will look at common disputes related to the payment of hire. These include failure to meet the pre-agreed terms and conditions, unexpected delays or cancellations, failure to pay hire on time, disagreements over the amount of hire due, and failure to comply with any of the charter party terms and conditions on payments. All time charter parties contain an off-hire clause providing exceptions from the strict obligation for charterers to pay hire from delivery until redelivery. The specific terms of the off-hire clause will determine whether any particular event entitles the charterers to place the ship off-hire, and for how long. The course will conclude with a review of all the topics covered as a case study, enabling you to consolidate your understanding of the principles, practical aspects, and legal framework of a time chartering agreement.