BIMCO and Global Shippers' forum launch new standard service level for liner trade
BIMCO and the Global Shippers' Forum have now launched a new standard contract – named “SERVICECON” – which simplifies and harmonises terms and conditions for container volume contracts between shippers and carriers, the association said in a media release.
The new agreement is designed to meet the contractual needs of small to medium sized shippers, which, despite the large number and global value of the shipments they transport, often lack the legal resources to develop their own agreements with carriers.
Following a two year period of discussions between carrier and shipper representatives, the BIMCO/GSF SERVICECON Standard Service Contract has been developed to provide a basis for container volume agreements. It provides a comprehensive starting point for negotiations and helps to smooth and speed up the contractual process. Shippers and carriers can amend the contract to suit their individual commercial needs, providing the flexibility needed for making commercial agreements.
BIMCO is the world’s largest international shipping association, with 2,300 members in around 130 countries, representing nearly 2/3 of the world’s commercial fleet. The organization unites shipowners, operators, managers, brokers and agents. BIMCO is accredited as a Non-Governmental Organisation (NGO) with all relevant United Nations agencies and other regulatory entities.