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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.

Industry standard on in-water cleaning with capture

04 February 2021

The Industry standard is one of two separate documents that outline performance-based requirements for in-water cleaning of a ship’s hull, propeller and niche areas with the capture of the materials that are removed during the process.

Ship financing just got less complicated

02 May 2018

BIMCO has developed a new standard term sheet for syndicated ship financing (SHIPTERM S) – the first industry standard of its kind for syndicated loans. The term sheet was approved for publication at BIMCO’s biannual Documentary Committee meeting on May 2 in New York.

Leaner BARECON expected this autumn

16 January 2017

Users of BARECON can expect BIMCO’s standard bareboat charter party to become leaner and more focussed when a new edition is released later this year.

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.