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A BIMCO committee started work this week to review SYNACOMEX, the popular grain voyage charter party published by The French Union for Grains and Seeds Trade (Syndicat National du Commerce Extérieur des grains et graines oléagineuses – SYNACOMEX). SYNACOMEX and Armateurs de France (ADF) are joint copyright holders of the form.
The updated 2023 version of the popular Continent Grain Charter Party, SYNACOMEX , is now available for use in SmartCon and on the BIMCO website accompanied by explanatory notes.
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 has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010 and the Designated Entities Clause for Charter Parties in 2013. 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. The absence of a standard BIMCO sanctions clause for voyage charter parties has resulted in owners and charterers amending the BIMCO Sanctions Clause for Time Charter Parties or drafting bespoke clauses. BIMCO has therefore developed this sanctions clause for use in voyage charter parties so that there is an industry standard clause. It is intended to provide a balanced allocation of the risks posed by sanctions as between owners and charterers. 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 is a sanctions clause that also covers issues related to designated entities previously found in BIMCO’s Designated Entities Clause for Charter Parties 2013. This new sanctions clause should be used instead of the old Designated Entities Clause.
BIMCO’s Documentary Committee has approved a revised version of the Continent Grain Charter Party, SYNACOMEX, to reflect changes in the geopolitical landscape following events including the COVID-19 pandemic and the war in Ukraine. The revised charter party now includes BIMCO’s anti-corruption clause and updated versions of the war risks and sanctions clauses.
SYNACOMEX 2023 is a grain voyage charter party. It was originally drafted by the French Union for Grain and Seeds Trade (Syndicat National du Commerce Extérieur des grains et graines oléagineuses – SYNACOMEX) and the French Shipowners’ Association (Armateurs de France), with the assistance of the Maritime Arbitration Chamber of Paris (Chambre Arbitrale Maritime de Paris) and the French Shipbrokers’ Association (Chambre Syndicale des Courtiers d’Affrètement Maritime et de Vente de Navires de France). It has been approved by BIMCO. The latest edition of this contract is SYNACOMEX 2023.
