Major revision of NYPE time charter party
15 October 2015The first revision of the New York Produce Exchange Time Charter (NYPE) since 1993 now published
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The first revision of the New York Produce Exchange Time Charter (NYPE) since 1993 now published
NYPE 2015 seminars to take place in USA, Canada, Switzerland and Italy in November.
The latest edition of this contract is NYPE 2015 . Copyright in NYPE 93 is held by ASBA.
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.
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.
At a seminar hosted by ASBA in Stamford on 10 November the NYPE 2015 time charter party was presented to ASBA members.
The New York Produce Exchange Form (NYPE) is the most widely used standard time charter party in the dry cargo sector. NYPE 2015 was developed in cooperation between BIMCO, the Association of Shipbrokers and Agents (ASBA), who are the copyright holders of the form, and the Singapore Maritime Foundation (SMF). The latest edition of this contract is NYPE 2015.