Sea and BIMCO have expanded their relationship to integrate BIMCO’s standard clauses into Sea’s fixture workflow for chartering, brokerage, commercial and legal teams.
The integration adds BIMCO’s standard clauses to Sea’s clause library, with updates delivered automatically through an API using clause data managed by BIMCO.
Working charter parties can also be compared against the latest BIMCO standard, allowing differences in wording to be identified before a contract is agreed. These may result from an outdated clause version, an unintended change or an amendment made during negotiation.
The system is intended to reduce the manual maintenance of in-house clause libraries while providing greater control over contractual deviations during the fixing process.
“BIMCO clauses and contracts are already a familiar part of the way our customers work, so this partnership is a natural next step in that relationship,” said Peter Schroder, CEO, Sea.
“By bringing current BIMCO standards into the fixture workflow, this partnership is giving teams a way to see where draft wording differs, helping make an important part of the fixing process more connected, visible and controlled.”
BIMCO’s standard clauses will be available within Sea’s existing contract workflow, allowing users to manage and check clauses without leaving the system.
“BIMCO is widely recognised as the shipping industry’s leading developer and distributor of standard clauses. We welcome this collaboration which supports their use in Sea’s system and encourages good contractual governance,” said Grant Hunter, Chief Digital Officer, BIMCO.
“Having our clauses directly integrated into Sea’s contract workflow is a great way of ensuring their customers are working from a single verified source of the latest versions of our clauses.”
