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Bunker Quality and Liability 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.

Anti Corruption Clause for Charter Parties 2015

17 October 2016

The Anti-Corruption Clause for Charter Parties 2015 provides market users with a regime for responding to unlawful demands for gifts in cash or kind, such as cigarettes or alcohol. It is designed for use in both voyage and time charters and sets out a series of steps with the contracting parties working together to resist such demands but if this fails, owners’ rights to hire or uninterrupted laytime and demurrage are protected. Termination, by either party, is the ultimate sanction but a high threshold has been set so that it cannot be easily used as an exit from an inconvenient charter. This clause was published on 7 December 2015.

NYPE 2015

17 October 2016

The New York Produce Exchange Form (NYPE) is the most widely used standard time charter party in the dry cargo sector. NYPE 2015 was developed in cooperation between BIMCO, the Association of Shipbrokers and Agents (ASBA), who are the copyright holders of the form, and the Singapore Maritime Foundation (SMF). The latest edition of this contract is NYPE 2015.