What is the BIMCO and why do I need it?
BIMCO is a legal framework, which allows participants to easily and effortlessly enter into interchange agreements with new companies. Under the BIMCO, you do not have to negotiate and sign bilateral contract with each partner anymore–just sign once and automatically have an agreement in place with all other signatories. Of course, you’re still free to chose who to work with and you’re also able to negotiate the terms individually for each one-way request–the BIMCO is just the underlying legal framework. Get more information about the BIMCO at xChange here.