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Globally, less than 2% of world trade is carried on electronic bills of lading. This is partly due to lack of open standards and interoperability. To help increase adoption of digital trade documents in shipping, BIMCO has published an electronic bill of lading standard.
BIMCO's Documentary Committee met on 10 May in Copenhagen and approved for publication three standard novation agreements for time charter parties and shipbuilding contracts.
Proposed industry-wide standard for software maintenance produced by BIMCO and the international association for the marine electronics industry, CIRM (Comité International Radio-Maritime).
FONASBA and BIMCO are pleased to announce the launch of a new Agency Appointment Agreement document.
BIMCO has drafted a standard form which can provide documentation for shipowners unable to buy compliant fuel in a port. The standard will be discussed at the Intersessional meeting the International Maritime Organization (IMO) in July.
The Novation Agreement for the Substitution of Time Charterers is an agreement between the parties to novate the time charter party from the original charterers to the new charterers on terms set out in the agreement. The latest edition of this contract is the Novation Agreement for the Substitution of Time Charterers, issued in 2016. Copyright in the Novation Agreement for the Substitution of Time Charterers is held by BIMCO.
The spring meeting of the Documentary Committee, chaired by Francis Sarre, was held in Rome on 6 June. The sixty-strong committee discussed an extensive and diverse range of documentary projects and approved for publication three new contracts and one clause.
The general agency agreement has been developed for the provision of selected agency services over a period of time in a defined territory or area. It is designed for use in all trades and can be adapted to suit parties’ individual needs. This contract was published in December 2017 and is the latest edition. Copyright in the General Agency Agreement is held by FONASBA. The publishers are BIMCO and FONASBA.