BIMCO Law and Arbitration Clause 2020

BIMCO has announced the adoption of the BIMCO Law and Arbitration Clause 2020, which for the first time includes Hong Kong, along with London, New York and Singapore, in a unified wording that has been agreed by all four venues.  

Arthur Bowring, President of the Hong Kong Maritime Arbitration Group (HKMAG), said “The incorporation of Hong Kong in this new clause is well deserved recognition that reflects Hong Kong’s reputation as an efficient, expeditious and cost-effective venue for the resolution of maritime disputes.” 

The new clause is simplified wording, which by a drop-down selection automatically incorporates the specific provisions of each venue.  The clause is also in stand-alone format, which may be downloaded from here.  The clause also includes new and useful provisions relating to the serving of notices.

To incorporate the clause into your contracts, either select the Hong Kong option when completing on-line contracts, and then choose Hong Kong or English law, or specify in your contract “BIMCO Law and Arbitration Clause 2020, Hong Kong”.