SALEFORM 2012

SALEFORM is the Norwegian Shipbrokers’ Association’s international memorandum of agreement for the sale and purchase of ships. Copyright in this document is held by the Norwegian Shipbrokers’ Association. The latest edition of this contract is SALEFORM 2012.

The revision of any standard agreement as internationally recognised and widely used as SALEFORM 93 is not a matter lightly undertaken. The decision to revise SALEFORM 93 was based on feedback from the global ship sale and purchase sector who were asked whether an update was needed and, if so, to what extent the agreement should be revised.

The message from the feedback was very clear – while SALEFORM 93 largely met the needs of the industry at the time, it would certainly benefit from a modest update to reflect commonly applied amendments and rider clauses.

Of equal importance to those consulted was that the general principles and structure of SALEFORM should be retained. The challenge for BIMCO, working together with copyright holders the Norwegian Shipbrokers’ Association (NSA), was how to make this well-used international sale and purchase contract even better while maintaining all the key elements that the industry has come to rely on.

Over a period of 11 months the NSA/BIMCO drafting team carried out a thorough review of SALEFORM in consultation with the industry. On 10 November 2011, the Documentary Committee approved the new edition, called SALEFORM 2012.

The revision process identified the key clauses most commonly amended in SALEFORM and pinpointed areas where ambiguity in the ‘93 edition had, on occasion, led to misunderstanding and uncertainty. The new edition brings greater clarity to the agreement as well as amended wording that reflects current commercial practice.

The NSA and BIMCO would like to thank the following members of the SALEFORM Sub-committee for their hard work and commitment in revising SALEFORM:

NSA

• Mr Petter Andrup, R S Platou ASA (Chairman)
• Mr Peter Graff, Inge Steensland AS
• Mr Erik Grepne, Joachim Grieg & Co. AS
• Mr Erik Ofstad, R S Platou ASA 
• Mr Lars Chr. Skarsgård, Fearnleys AS
• Mr Carl F. Wennersteen, Oslo Shipbrokers AS
• Mr Ole H. Zachariassen, Lorentzen & Stemoco AS
• Mr Henrik Aadnesen, Nordisk Skibsrederforening

BIMCO

• Mr Francis Sarre, CMB, (Chairman)
• Mr Christoph Bruhn, Bruhn Shipbrokers
• Mr Georg Scheel, Nordisk Skibsrederforening
• Mr Matt Hannaford, Clyde & Co
• Mr Harry Fafalios, Fafalios Shipping
• Mr Alan Mackinnon, UK P&I Club