BIMCO's Documentary Committee will convene online on 25 February to consider the adoption of several contractual developments, including a new Biofuel Clause for Time Charter Parties, an Emission Trading Scheme Allowances Clause for bareboat charters, and an updated Norwegian Sale Form.

The projects have undergone review by subcommittees and industry stakeholders and are now being presented for formal adoption.

The Biofuel Clause for Time Charter Parties has been developed to address operational and commercial considerations when vessels use biofuels. According to BIMCO, the clause establishes fuel standards aligned with ISO requirements and sets out procedures for sampling, testing, storage and handling.

The clause includes provisions for adjusting speed and performance warranties when biofuels are used, along with requirements for notice, tank readiness, and safeguards on fuel segregation, commingling and storage life.

The ETS—BARECON Emission Trading Scheme Allowances Clause is designed for use with BARECON 2017 and can be applied to the EU ETS and similar regulatory schemes. The clause allows parties to allocate emission compliance responsibilities between owners and charterers, with charterers set as the default party responsible for ETS obligations.

BIMCO said the clause emphasises cooperation, information-sharing and clear cost allocation, providing a framework that can adapt as regulatory requirements develop.

The organisation is also presenting a revised version of SALEFORM, its standard ship sale and purchase agreement. The updated form includes refined deposit and payment mechanisms, clearer allocation of obligations and termination rights, and improved procedures for inspections, delivery and notice of readiness.

The revision incorporates updated compliance provisions on anti-bribery, sanctions and confidentiality, along with BIMCO's ETS and FuelEU Maritime clauses for memoranda of agreement.

BIMCO stated the revised SALEFORM aims to reduce ambiguity in sale and purchase negotiations.