Course price

Discounts

10% group discount is available for registering 3 or more participants from the same company.

Overview

The seminar will provide an overview of the commercial and legal principles of Force Majeure and Frustration in connection with voyage and time chartering. The seminar will cover the definition and scope of Force Majeure and Frustration. This will include an overview of the legal definitions of Force Majeure and Frustration, their scope in relation to charterparties and the connection with the underlying commodity sales contract.

We will discuss common examples of Force Majeure and Frustration that may arise in connection with chartering, such as natural disasters, war, strikes, etc. We will discuss how parties can protect themselves from the effects of Force Majeure and Frustration through contractual provisions such as force majeure clauses, frustration clauses, etc.

The trainers will provide practical advice on how to deal with Force Majeure and Frustration events, including strategies for minimising losses or damages caused by these events. This will be linked with case studies and examples to illustrate how courts have interpreted the legal principles of Force Majeure and Frustration in connection with chartering and how this can be used to prevent disputes in advance of a potential Force Majeure event.

What will you learn?

• Understand the legal principles of Force Majeure and Frustration
• Learn how to identify and assess Force Majeure and Frustration events.
• Develop strategies for managing Force Majeure and Frustration events.
• Understand the implications and effect of Force Majeure and Frustration on chartering contracts, including potential liabilities and remedies arising from the commodity sales contracts.
• Understand how to incorporate and work with clauses for Force Majeure and Frustration in chartering contracts.
• Discuss the use and effect of the “BIMCO Force Majeure Clause 2022”.

Programme

Tuesday 7 November 2023: Session 1 - 90 minutes, 17:00 - 18:30 UTC

Introduction to Force Majeure and Frustration

• Understand the concept of Force Majeure and Frustration
• Definition of Force Majeure and Frustration
• Legal Implications of Force Majeure and Frustration under time and voyage chartering
  

Wednesday 8 November 2023: Session 2 – 90 minutes, 17:00 - 18:30 UTC

Case study and discussion on Force Majeure and Frustration

• The BIMCO Force Majeure Clause. Cause and effect.
• Recent examples of Force Majeure and Frustration events in charterparties.
  
• Force majeure and frustration in the aftermath of COVID-19.
  
• Unforeseen events and disruption and declaring force majeure. Understanding the listed force majeure events and collecting evidence and documentation.

Starting time (for both sessions):

11:00 CDT
17:00 UTC
18:00 CET

See the time in your local time zone.

Why choose to participate?

Participating provides an opportunity to understand the concept of force majeure and frustration and the legal implications. We will discuss how to protect commercial interests when faced with potential force majeure and frustration events. Additionally, it can help participants develop strategies for mitigating risks and ensure they are prepared for any potential issues and can discuss with greater confidence the nuances of force majeure and frustration in relation to shipping and chartering contracts.

How will this course help your professional development?

Sharing decades of high-level experience, BIMCO’s shipping experts and industry professionals will give you the best practice guidance, using theory and case studies, to use BIMCO’s 350+ contracts and clauses. Suitable for legal, chartering, management and operations professionals, our courses provide practical and technical advice that can be applied immediately. 

Course materials

BIMCO issues electronic course files as an Adobe PDF file enabling you to make personal notes. All documentation and presentations will be in English. Course access details will be provided once the registration is completed.

Speakers

Antonia Panayides

Elli Aidini

Organiser

Peter Grube