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BIMCO’s Documentary Committee (DC) will have a busy agenda when they meet on 5 December. The DC will consider for approval new sanctions clauses for time and voyage charter parties. They will also review progress on a new edition of GENCON and be asked to provide feedback on other projects ranging from a sale and leaseback term sheet to an accommodation support vessel charter party.
The IMO's Convention on Facilitation of International Maritime Traffic (FAL), has new updates effective from 1 January 2018.
BIMCO is setting up a sounding board with the aim to engage a broad group of stakeholders in the process of drafting a sale and leaseback term sheet, as the sale and leaseback market continues to expand.
The latest edition of this clause is the War Risks Clause for Time Chartering 2013 (CONWARTIME 2013)
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.
The BIMCO Shipping KPI is a global shipping industry tool for defining, measuring and reporting information on ship performance.
BIMCO’s new standard term sheet for bilateral ship financing transactions, SHIPTERM, will be the focus of two seminars taking place in Singapore on 24 May and Hong Kong on 25 May.
BIMCO has today published three standard novation agreements that provide a legal framework to change one of the original parties to a contract.
