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BIMCO's Forms of Approved Documents (FAD) Sub-committee has met to finalise Piracy Clauses and to begin work on a suite of Bunker Clauses for time charter parties.

In the run-up to the Documentary Committee meeting on 27 November 2009, the Sub-committee met to finalise BICMO’s draft Piracy Clauses following circulation to BIMCO’s Documentary Committee for comments.

Since the last FAD meeting on 9 September, the draft Piracy Clauses - a revised Piracy Clause for Time Charter Parties, a Piracy Clause for Single Voyage Charter Parties and a Piracy Clause for Consecutive Voyage Charter Parties and COAs - have been carefully considered by BIMCO’s Documentary Committee, which has provided comprehensive comments and suggestions.

The Sub-Committee also focussed its attention on creating a suite of Bunker Clauses for time charter parties.

According to BIMCO, the reason for devising a suite of Bunker Clauses is to consolidate existing BIMCO clauses. The suite of clauses will address issues such as quality, suitability, sampling, segregation, contamination and emissions.