Year 2000 Charterparty Clause (5.268)

London P&I explains why the Year 2000 issue was relevant to charterparties, and why Members should be cautious about agreeing additional millennium clauses that could affect cover.

In this circular, London P&I notes that Year 2000 compliance was increasingly being raised in charterparties and other contracts. It explains the seaworthiness and due diligence issues involved, highlights the risk of onerous wording, and recommends the BIMCO standard clause if a Year 2000 clause must be used.