BIMCO issue updated sanctions clauses
Members are strongly advised to always include strong sanctions clauses in their charter parties in order to provide the maximum level of protection for both owners and charterers. BIMCO have published a new version of their “Sanctions Clause for Time Charter Parties” as well as helpfully adding a “Sanctions Clause for Voyage Charter Parties” and the Managers recommend their use.
Copies of both clauses and BIMCO’s existing “Designated Entities Clause for Charter Parties” together with their respective accompanying explanatory notes can be found on the Club’s dedicated Sanctions webpage.
The Managers are extremely grateful to BIMCO for their permission to use these clauses.