Theshipowner’s body said the decision was designed to provide a more “globalspread of choices of maritime arbitration centres.”
BIMCO’sdocumentary committee adopted a Singapore Arbitration Clause at its autumnmeeting in Copenhagen last week.
TheClause now covers three geographical regions – Asia, Europe and the Americas –with arbitration clauses for Singapore, London and New York.
Afourth “open” option in the Dispute Resolution Clause permits parties to agreeother arbitration venues and applicable laws to suit their specific localrequirements
BIMCOworked with the Singapore Chamber of Maritime Arbitration (SCMA) and theSingapore Maritime Foundation (SMF) for six months to prepare the clause forincorporation into a revised BIMCO Dispute Resolution Clause which is due to bepublished shortly.
However,the
