Change at the helm of BIMCO Documentary Committee
Documentary Committee Chairman Francis Sarre of CMB has, after six years in the driver’s seat, passed over the reins of BIMCO’s contracts and clauses approval body to Nick Fell of BW Group. Fell takes over as Chairman at a time when the industry needs strong contractual solutions, not least due to the COVID-19 pandemic.
Under Francis Sarre’s chairmanship, BIMCO’s Documentary Committee has adopted more than 50 contracts and clauses. Sarre has, amongst many other high-profile projects, spearheaded BIMCO’s move into the ship financing area with the development of two term sheets for bilateral and syndicated term loan facilities, SHIPTERM and SHIPTERM S – projects which he also chaired himself. The suite of term sheets was completed with the development of a standard ship sale and leaseback term sheet, SHIPLEASE, published in September 2020.