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WORLDFOODRECEIPT 2017

30 November 2017

The WORLDFOODRECEIPT 2017 is a non-negotiable cargo receipt that was developed to be used for shipments under the WORLDFOOD 2017 charter party. The latest edition of this cargo receipt is WORLDFOODRECEIPT 2017. Copyright in WORLDFOODRECEIPT 2017 is held by BIMCO.

War in Ukraine will hurt growth in all shipping segments

07 March 2022

Though much uncertainty remains, the immediate commodity price increases and supply challenges caused by Russia’s invasion of Ukraine are likely to be felt throughout 2022. Also, recently implemented sanctions on Russia are not likely to be lifted any time soon. This may have sustained spill-over impact on the global economy.

Sanctions Clause for Time Charter Parties 2020

03 March 2022

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).

Sanctions Clause for Container Vessel Time Charter Parties 2021

03 March 2022

The sanctions landscape for the container trade has grown increasingly complex over the past decade. To provide the container industry with a bespoke contractual solution that addresses the practical and commercial realities of the liner trade BIMCO has developed a Sanctions Clause for Container Vessel Time Charter Parties 2020.

Sanctions Clause for Voyage Charter Parties 2020

03 March 2022

The sanctions landscape has grown increasingly complex since BIMCO published its Sanctions Clause for Time Charter Parties in 2010 and the Designated Entities Clause for Charter Parties in 2013. 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. The absence of a standard BIMCO sanctions clause for voyage charter parties has resulted in owners and charterers amending the BIMCO Sanctions Clause for Time Charter Parties or drafting bespoke clauses. BIMCO has therefore developed this sanctions clause for use in voyage charter parties so that there is an industry standard clause. It is intended to provide a balanced allocation of the risks posed by sanctions as between owners and charterers. 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 is a sanctions clause that also covers issues related to designated entities previously found in BIMCO’s Designated Entities Clause for Charter Parties 2013. This new sanctions clause should be used instead of the old Designated Entities Clause.

Dispute Resolution Clause 2017

17 October 2016

This is the 2017 edition of the Dispute Resolution Clause. The clause has been developed to re-introduce of the LMAA Intermediate Claims Procedure.

WORLDFOODRECEIPT 99

29 August 2020

The WORLDFOODRECEIPT 99 is a non-negotiable cargo receipt that was developed to be used for shipments under the WORLDFOOD 99 charter party. The latest edition of this cargo receipt is WORLDFOODRECEIPT 2017 and the latest edition of the charter party is WORLDFOOD 2017.

WORLDFOOD 2017

30 November 2017

The United Nations World Food Programme Voyage Charter Party, WORLDFOOD 2017, is a BIMCO approved document to which the UN World Food Programme holds the copyright. The contract is used for shipments of food to emergency areas to save the lives of victims of war, civil conflict and natural disasters. The WORLDFOODRECEIPT 2017 is its accompanying contract of carriage. The latest edition of this contract is WORLDFOOD 2017.

BARECON 2017

13 December 2017

BARECON is a bareboat charter party. It is a lease agreement whereby the charterer obtains possession and full control of the ship along with the legal and financial responsibility for it. The charterer generally pays for all operating expenses, including fuel, crew, maintenance, repairs, and P&I and hull insurance. The latest edition of this contract is BARECON 2017