HFW Part Of BIMCO Team Helping Shipping Industry "Prepare For The Unexpected"
Global, sector-focused law firm has helped shipping association BIMCO draft a model clause for the shipping industry addressing force majeure events occurring under contracts.
The new clause provides a comprehensive 'code' for parties to help resolve situations arising from unexpected events impacting the performance of contracts.
BIMCO says that "the unforeseen events of recent years have demonstrated how beneficial it can be for parties to contractually 'expect the unexpected', whether the event is extraordinary weather conditions caused by climate change, or a pandemic."
The force majeure clause was drafted by a small team of industry experts, including HFW's Rory Butler.
HFW has helped BIMCO draft several standard contract and clauses, including recently-published "game-changing" carbon emissions clauses, as well as the industry's first standard contract for autonomous shipping, its first cyber security clause, the industry's first standard offshore decommissioning contact, and two clauses relating to the International Maritime Organization's 2020 sulphur emission rules (one of the first steps towards reducing harmful GHG emissions from shipping).
HFW is also helping BIMCO draft a new EU ETS clause and a time charter clause dealing with the CII regime, which will both be published in the coming months.
To read BIMCO's Force Majeure clause and accompanying explanatory notes, visit: https://www.bimco.org/contracts-and-clauses/bimco-clauses/current/force-majeure-clause-2022
HFW is a leading global law firm in the aerospace, commodities, construction, energy and resources, insurance, and shipping sectors. The firm has more than 600 lawyers, including 185 partners, based in offices across the Americas, Europe, the Middle East and Asia-Pacific. HFW prides itself on its deep industry expertise and its entrepreneurial, creative and collaborative culture.
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