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Unit OT 18-35, Level 18, Central Park Towers, Dubai International Financial Centre, Dubai, P.O. Box 18006, United Arab Emirates
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GAC Regional Office, Asia Pacific 78 Shenton Way, #29-01
Group Vice President, Asia Pacific & Indian Subcontinent
Unit OT 18-35, Level 18, Central Park Towers, Dubai International Financial Centre, Dubai, P.O. Box 18006, United Arab Emirates
Unit OT 18-35, Level 18, Central Park Towers, Dubai International Financial Centre, Dubai, P.O. Box 18006, United Arab Emirates
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26 Nov 2015 / Worldwide
BIMCO, the world’s largest international shipping organisation, has now launched an anti-corruption clause for charter parties. The new clause will give owners and charterers a contractual platform for cooperative action to resist demands for illegal payments from port officials and others.…
….The clause can be used in any jurisdiction because it applies the anti-corruption laws applicable to each of the parties and the local law of the place where the ship is located.
A key provision of BIMCO’s Anti-Corruption Clause is a mechanism for owners to issue a note of protest if an illegal demand is made and the demand is not withdrawn.
This triggers a co-operative response by charterers and owners to the demand. A safeguard for the owners if they issue a protest to resist a demand and the ship is delayed is that charterers cannot place the ship off-hire…
(For information about operations around the world, contact the respective GAC office. Details may be found at http://gac.com/gac-worldwide)
Source: Extracts from BIMCO (www.bimco.org) Press Release dated 24 November 2015