I just accepted my first leasing deal, what falls under my responsibility per BIMCO?

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Congratulations on your first deal on xChange!

We are happy that you will now be starting the journey of your first leasing deal here on container xChange and we would like to help everything go as smoothly as possible.



What you need to know about the BIMCO Contract

Back when you were signing up for the platform, you might recall signing the BIMCO contract.

If you are an expert in logistics, this is probably nothing new for you. However, if you are not familiar with BIMCO, we want to make sure that the below points are very clear for you as a new xChange member.

Please read the below points carefully and let us know if you have any questions through the tag function in the leasing deals: @support


If you are the Supplier

  1. Make sure the equipment you supply is in a good and serviceable condition BIMCO 3. (a)

  2. Before you release any containers, confirm with the depot that the containers are ready for pick up and the depot knows the release details (reference number and eventually container numbers). BIMCO 5. (b) (i)

  3. All depot and handling charges (including depot barge handling) in Pick Up and Drop Off Locations are always on the supplier's accounts. BIMCO 7. (a)

If you are the User

  1. Once the containers are released by the supplier, you should pick up all agreed units from the depot within 14 days of the release date (if not otherwise agreed).

  2. Before you send truckers to pick up the containers, call the depot to schedule and confirm your pick-up date and time latest 24 hours before pick up. BIMCO 5. (c)

  3. All transport costs or charges (including failed pick-up attempts) to or from the supplier's depot are on the user's account. BIMCO 7. (b)

  4. Pre-trip inspections on the delivery of reefer Equipment shall be for the User’s account. BIMCO 7. (d)

  5. Any rental and pick-up charges apply from the day of pick-up or stack change of each container less any free days until the containers are returned to the supplier's depot. BIMCO 8. (a)

  6. Rental and pick-up charges are invoiced and paid monthly. BIMCO 8. (c)

  7. For any containers not returned within 12 months of pick up, the supplier may at his discretion charge the Depreciated Replacement Value (DRV) to the user. BIMCO 11.

  8. The user is liable for any actual or constructive total loss or damage. BIMCO 14. (a)

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