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This is the 2017 edition of the Dispute Resolution Clause. The clause has been developed to re-introduce of the LMAA Intermediate Claims Procedure.
BIMCO President and Chairman of Louis Dreyfus Armateurs, Philippe Louis-Dreyfus opened the Armateurs de France and BIMCO event in Paris on 14 June 2016.
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.
The Documentary Committee, under the chairmanship of Mr Francis Sarre, met in Copenhagen on 17 November in Copenhagen for its regular autumn meeting. Following two years’ intensive work involving owners, lawyers and financial institutions, a new Standard Term Sheet for Bilateral Financing was adopted.
The standard term sheet for bilateral ship financing transactions adopted by BIMCO’s Documentary Committee has now been published together with explanatory notes on IDEA. A copy of the term sheet, codenamed SHIPTERM, and explanatory notes are also available .
The subcommittee set up to develop a syndicated version of SHIPTERM, BIMCO’s new standard bilateral term sheet, made good progress at its second meeting on 7-8 September in London.
The latest edition of this clause is the Dispute Resolution Clause 2017 .
BIMCO's ship financing term sheet is now ready for a second round of consultations following a two-day meeting in Copenhagen.
We are pleased to invite you to join us in Dubai on 16 October for a seminar hosted jointly by BIMCO and Citibank on BIMCO’s new standard term sheet for bilateral ship financing transactions, SHIPTERM.
