Cancelling Clause 2002 (Code Name: CANCELCON 2002)
Overview
Cancelling Clause 2002 (Code Name: CANCELCON 2002)
BIMCO Cancelling Clause 2002 (Code Name: CANCELCON 2002)
(a) Should the Vessel not be ready to load (whether in berth or not) on the agreed cancelling date, the Charterers shall have the option of cancelling this Charter Party.
(b) Should the Owners anticipate that, despite the exercise of due diligence, the Vessel will not be ready to load by the cancelling date, they shall notify the Charterers thereof without delay stating the expected date of the Vessel’s readiness to load and asking whether the Charterers will exercise their option of cancelling the Charter Party, or agree to a new cancelling date.
Such option must be declared by the Charterers within 48 running hours after the receipt of the Owners’ notice. If the Charterers do not exercise their option of cancelling, then this Charter Party shall be deemed to be amended such that the seventh day after the new readiness date stated in the Owners’ notification to the Charterers shall be the new cancelling date.
The provisions of sub-clause (b) of this Clause shall operate only once, and in case of the Vessel’s further delay, the Charterers shall have the option of cancelling the Charter Party as per sub-clause (a) of this Clause.
Related Help & Advice
Create or edit a contract
The one-stop digital shop for all the standard maritime contracts and clauses you’ll ever need.
Related publication
Check Before Fixing
This publication builds upon decades of BIMCO’s experience as the world leader in developing standard shipping contracts and clauses and its daily practic...
Related training
Voyage Charters Masterclass Online
- Online, Online
- 12 May, 2025
Voyage Charters Masterclass Online is a series of 10 online sessions delivered over 5 days. Each day will run for 2x60 minutes with a short break in between. Th...
Latest Related News
-
BIMCO adopts portfolio of four ETS clauses
The shipping industry is facing an increase in new regulations from the International Maritime Organization (IMO) and the European Union (EU) and an increase in the urgency to decarbonise. To support the industry, BIMCO has developed a portfolio of new emission trading scheme (ETS) clauses.
-
BIMCO adopts new CII clause for Voyage Charter Parties
The shipping industry is facing an increase in new regulations from the International Maritime Organization (IMO) and the European Union (EU) and an increase in the urgency to decarbonise. To support the industry, BIMCO has developed a new CII Clause for Voyage Charter Parties. The clause was adopted by BIMCO’s Documentary Committee on 11 October and is the latest addition to BIMCO’s portfolio of carbon clauses.
-
BIMCO’s CII clause adopted
The BIMCO Documentary Committee has adopted a CII Operations Clause for Time Charter Parties which will help the industry commercially navigate the complexities of the new CII regulations from the International Maritime Organization (IMO).
-
Fumigation
BIMCO providing information and guidance relating to fumigation of cargoes that are shipped under the IMSBC Code, the Grain Code and the IMDG Code.
-
BIMCO publishes EEXI Transition Clause ahead of IMO efficiency regulation
New regulation from the International Maritime Organization (IMO), which will require existing ships to reduce carbon emissions, is due to enter into force in just under one year. As compliance will benefit to a large extent from co-operation between shipowners and charterers, BIMCO has developed a new clause to address the changes.
ELSEWHERE ON BIMCO
Holiday calendar
BIMCO's Holiday Calendar covers general holidays in over 150 countries, plus local holidays and working hours in more than 680 ports around the world.
Learn about your cargo
For general guidance and information on cargo-related queries.
