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ISM Clause 1998

06 October 2016

BIMCO listened carefully to the concerns expressed by many sectors of the industry regarding the likely effect on commerce of the coming into force of the ISM Code. The ISM Code represents only one part of the substantial volume of regulations to which shipowners are bound under the law of the Flag State. As part of the SOLAS Convention 1974, as amended, implementation of the ISM Code is mandatory for all Contracting States under international law. Most standard charterparties contain fairly all-embracing provisions requiring the owner to ensure that the vessel is in full compliance with all relevant international rules and regulations, and possesses the necessary certificates, to permit the vessel to trade within the agreed trading limits. Therefore, from a strictly legal point of view, BIMCO considers that there is no readily identifiable contractual need to make a specific reference to the ISM Code in a voyage or time charter. Nevertheless, in response to the demand of Members and for those who may feel more comfortable incorporating a specific reference to the ISM Code in their charterparties, BIMCO has devised a broad and neutrally worded ISM Clause.

BIMCHEMTIME Vetting and Inspection Clause 2006

26 April 2007

The development of the Vetting and Inspection Clause formed part of the general task of modernising the 1984 BIMCHEMTIME charter party. However, recognising the potential benefit to the chemical industry of coming up with a good standard vetting and inspection clause, BIMCO decided to prepare the BIMCHEMTIME Vetting and Inspection Clause as a free-standing standard clause that can be incorporated into other chemical carrier time charter parties. The Vetting and Inspection Clause forms a cornerstone of any time charter party in the chemical trade. BIMCO’s Vetting and Inspection Clause for Chemical Carriers is an attempt to deal in a reasonable way with a fundamentally unreasonable situation.

Types and Quantities of Bunkers on Redelivery Clause 2011

06 October 2016

In October 2009 BIMCO initiated a project to develop a suite of standard bunker clauses for use in time charter parties. The rationale behind developing the suite is simply to address the ever increasing importance of bunker issues in time charter parties and the need to ensure that the risk of bunker disputes is minimised by clearly worded clauses that reflect legislative developments. The Suite of Clauses was adopted by BIMCO’s Documentary Committee at its meeting in Vancouver in June 2011. The Suite provides clauses covering matters relating to delivery/redelivery bunkers; bunkering operations; sampling; fuel testing programmes; and ECA trading, all of which are matters that are frequently absent from or insufficient in many standard time charter parties. Many older time charter forms contain bunker clauses covering the fundamental principles under the charter, but simply do not contemplate today’s situation where vessels are required to carry and use several grades of fuel and where sampling and testing regimes are an integral part of the process.