BIMCO launches latest guidance for Charter Negotiations

Posted by Daily Shipping Times on 18-05-2017        Tweet

LONDON: 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.

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.

This latest edition of Check Before Fixing is available for purchase by anyone in the industry keen to avoid costly mistakes when fixing a ship”.

The Check Before Fixing updates include:

•             section on E-bills

•             update on IMO issues, including Ballast Water Management and sulphur emissions

•             cyber security

•             piracy.