BIMCO Publishes Explanatory Notes for Standard Bunker Contract, BIMCO Terms 2015

by Ship & Bunker News Team
Tuesday January 27, 2015

BIMCO has published a set of explanatory notes for its new standard bunker contract, the BIMCO Terms 2015, the organisation has told Ship & Bunker.

The notes are intended to help potential users get a clearer idea of the thinking behind the various clauses of the terms, it says.

Made officially available to the industry in December 2014, the BIMCO Terms 2015 aim to help both bunker buyers and sellers manage risk and reduce disputes.

"The objective of the BIMCO Terms 2015 is quite simple - to provide the industry with carefully thought through terms and conditions for the purchase and delivery of marine fuels that are fair to both parties and provide a comprehensive starting point for negotiations," said BIMCO.

The new notes are available on the BIMCO website here:

https://www.bimco.org/~/media/Chartering/Document_Samples/Sundry_Other_Forms/Explanatory_Notes_BIMCO_TERMS_2015.ashx

Last year Grant Hunter, BIMCO's chief officer for legal and contractual affairs, discussed the BIMCO Terms 2015 in detail at SIBCON 2014.