New FONASBA form

The new FONASBA (Federation of National Associations of Shipbrokers and Agents) Standard Liner and General Agency Agreement is now in use. In a bid to modernise their documentation, FONASBA decided to combine the Standard Liner Agency Agreement and General Agency Agreement into one agreement.

The new agreement, which was finalised at the end of 2001, was approved by BIMCO in March, 2002. According to FONASBA, feedback so far has been very positive. The new document also serves as an ideal basis for in-house documentation.