The Federation of National Associations of Ship Brokers & Agents (FONASBA) and BIMCO, announced that they have signed a General Agency Agreement (GAA), on Tuesday 5th December, as part of a series of agency documents.
The latest GAA, compliments the Agency Appointment Agreement (AAA) launched earlier this year, and is designed to cover the appointment of an agent for a longer period, or over a wider range of ports, than the AAA.
The GAA is in the same box-format as the AAA and shares common terms, layout and other features designed to ensure the two documents are consistent and interchangeable, FONASBA said.
The core form of the agreement covers all the main terms of an agency agreement, but in the future it will be supplemented by a range of trade-specific clauses that will further alternate the agreement to the specific needs of the sector.
As with the AAA, a set of explanatory notes have also been developed and same can be downloaded here.
It is expected that the AAA and GAA will now replace the previous agency agreements in every day use but they will remain available for the foreseeable future in there is a specific need for them.
The new GAA includes the following activities:
- Marketing and sales
- Port agency
- Husbandry agency
- General agency
Earlier this year, an Agency Appointment Agreement form was singed between BIMCO and FONASBA.
This form, which is based on BIMCO’s tried and tested box layout, provides a simple, clear and effective means of confirming the details of an agency agreement for an individual or short series of port calls.
You can see the full General Agency Agreement below