New GENCON charter party expected in 2021
The revision of BIMCO’s most widely used voyage charter party – GENCON – is entering its completion phase, as the drafting team will meet during the autumn to process invaluable feedback received by the industry over the summer.
During the summer, the latest draft of BIMCO’s revised GENCON charter party was sent to around 120 GENCON users worldwide. They were specifically asked if they would consider using the new GENCON based on the current draft and were invited to provide clause specific comments from a commercial perspective.
A large number of comments were received, testifying to the interest and engagement by the industry in the GENCON project, and emphasising the importance of the document.
At BIMCO’s Documentary Committee meeting held on 21-22 September, the Committee was updated of the project and was able to provide feedback to the drafting team. The aim is to present the final draft for adoption in May 2021.