BIMCO Cyber Security Clause 2019
The BIMCO rider clause requiring each party to maintain cyber security procedures and notify the other of an incident, with a default liability cap.
The BIMCO Cyber Security Clause 2019 is a rider clause for charter parties and other contracts under which each party undertakes to implement appropriate procedures and systems to protect against a cyber security incident, to notify the other party promptly of an incident affecting performance, and to share information needed to mitigate it. It is not a printed clause of NYPE 2015 , which predates it.
The full article will cover the clause text, the definition of a cyber security incident, the liability cap and how parties vary it, the relationship to the IMO cyber risk management guidelines and the ISM Code, and how the clause interacts with off-hire and force majeure wordings.