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GENTIME

C1. Commercial shipping, chartering, economics and finance

Definition

BIMCO general time charter party.

GENTIME is BIMCO’s general time charter party for the dry-cargo sector, issued in 1999, drafted as a modern alternative to BALTIME 1939 and usable for the container trade as well. It follows the BIMCO box layout: Part I carries the commercial particulars in numbered boxes, Part II the standard clauses, with appendices and BIMCO explanatory notes. It covers delivery and redelivery, hire and payment, off-hire, employment and indemnity, and a dispute-resolution clause. Alongside NYPE 93 and BALTIME 1939 it is one of the preferred standard time-charter forms for dry-cargo vessels.

Source: BIMCO GENTIME 1999