A declaration of general average often leads to time being spent and costs incurred by shipowners having to obtain general average security from many individual cargo interests and their insurers.However,delays can be minimised by incorporation of the BIMCO Average Bond Clause in the contract of carr...
prior to loading, to cancel the contract; refuse to perform any part of it that will bring the vessel into an Affected Area; or, if loading has started, to leave with cargo on board and complete elsewhere for owners’ account. However, if the charter party ...
the IDEA·2 contract editing system, which contains digital copies of all the widely used BIMCO standard contracts, can add the new Clauses to their agreements by using the Clause Manager. *** Piracy Clause for Time Charter Parties 2013 ) The Vessel...