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Sanctions Clause for Time Charter Parties 2020

06 February 2020

The sanctions landscape has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010. International sanctions regimes are constantly changing with new restrictions being added and new persons and entities being listed. A violation of sanctions restrictions can have severe consequences and in the worst cases can lead to parties being listed as sanctioned parties. Therefore, carefully worded sanctions clauses in charter parties and other contracts are vital for internationally trading companies to help them manage and mitigate their sanctions risk and to enable them to continue to do business while remaining compliant with the various sanctions regimes. This clause is intended for use in all trades except for container trades. A separate sanctions clause for the container trades is under development. This clause was published on 19 December 2019. It replaces the Sanctions Clause for Time Charter Parties 2010 and the Designated Entities Clause for Charter Parties 2013 (which have been combined to make a new single clause for ease of incorporation).

Just in Time Arrival Clause for Voyage Charter Parties 2021

05 March 2021

The Just in Time Arrival Clause 2021 is for use in voyage charter parties where owners and charterers have agreed to operate a just in time arrival scheme that permits charterers to ask owners to optimise the speed of the ship to arrive at a destination at an agreed time. The clause takes a generic approach so that it can also form part of different vessel and port management schemes around the world. It may also be used together with the BIMCO Port Call Data Exchange Clause 2021 which has been designed to encourage wider application and use of the IMO data model framework for the harmonised exchange of ship/port information.