BIMCO launches new clauses
BIMCO’s Documentary Committee has agreed to carry out a major overhaul of its Dispute Resolution Clause, with the aim to shorten
and simplify what has become BIMCO’s longest standard clause. At the bi-annual Documentary Committee meeting, it was agreed
to begin the work to simplify the clause, partly by removing the mediation provision that was added to the clause in 2002.
A new free-standing mediation clause will be published for parties that wish to invoke mediation for all, or part, of a dispute,
once arbitration proceedings have commenced.
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