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Tuesday, July 25, 2017

BIMCO Guidance For Charter Negotiations

May 16, 2017

Pic: BIMCO Building. Official FB Page

Pic: BIMCO Building. Official FB Page

 BIMCO has re-launched one of its most enduringly popular publications – Check Before Fixing.

 
Check Before Fixing is an indispensable tool used across the industry for daily chartering and shipping transactions. Since the first edition was issued more than 30 years ago, it has proved to be an invaluable checklist for negotiations, and there is already a waiting list for the most up to date version. 
 
Last revised in 2010, the new 2017 edition includes the most recent legal developments. The guidance reflects increasing regulatory requirements and includes current commercial practice and for the first time, it includes an important section on cyber security. 
 
Angus Frew, Secretary General & CEO of BIMCO said: "Check Before Fixing has been used by shipowners and charterers around the world for 30 years now, regularly updated, it provides invaluable comprehensive information and advice, helping to avoid any pitfalls in negotiations, while making clear the consequences of any commercial decisions."
 
"Many of our members regard this as a key publication underpinning their daily negotiations and they have welcomed the news that we have updated it to reflect the most current and significant regulatory changes and legal developments. The inclusion of cyber security for the first time reflects how our industry is changing and how we must keep on top of new developments and threats," Angus added.
 
BIMCO has provided expert knowledge and practical advice to its members for more than 110 years and this guide reflects the organisation’s extensive experience with contracts and everyday disputes.
 
Maritime Reporter Magazine Cover Jul 2017 - The Marine Communications Edition

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