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Bimco releases new anti-corruption chartering clause

Bimco releases new anti-corruption chartering clause
Bimco has launched an anti-corruption clause for charter parties designed to protect owners and charterers against demands for illegal payments from port officials and others.

The clause applies the anti-corruption laws to each of the parties and the local law of the place where the ship is located, and gives a mechanism for owners to issue a note of protest if an illegal demand is made and is not withdrawn. The note then triggers a co-operative response by charterers and owners to the demand.

The clause states that if an owner issues a protest to resist a demand and the ship is delayed, the charterer cannot place the ship off-hire.

“Our objective is to provide the industry with a fair and balanced clause,” said Inga Froysa, head of the drafting team and vice-chairman on Bimco’s Documentary Committee. “The clause addresses owners’ and charterers’ responsibility to comply with anti-corruption legislation and helps them to work together to resist demands for illegal payments.

“Bimco’s Anti-Corruption Clause is the result of a concerted effort by a team of international lawyers and practitioners to provide an acceptable and workable alternative to the clauses currently in circulation,” added Froysa.