Holidays play a fundamental part in shipping. Not only are holidays instrumental in determining if overtime rates have to be paid to stevedores or other port services, but in many charter parties, holidays are excepted from laytime. As such, charterers and owners will have opposing interests related... Please follow the link to continue reading.
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Clause 3 - Payment Clause 4 - Inspections Clause 5 - Notices, time and place of delivery Clause 6 - a) Drydocking b) Divers inspection c) Drydocking provisions Clause 7 - Spares/bunkers etc. Clause 8 - Documentation Clause 11 - Condition on delivery Clause... Please follow the link to continue reading.
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Introduction The absence of standard market contracts for depositing money in connection with ship sale and purchase transactions means that parties are left to draft agreements on an individual basis. In order to fill this gap and provide a useful complement to the SALEFORM, BIMCO has developed a s... Please follow the link to continue reading.
Owners commonly require time charterers to provide a written guarantee underwriting their obligations to pay the owners for all sums due under the agreement. Such guarantees are typically issued by a parent company. A guarantee should provide owners with a greater degree of security; but if it is po... Please follow the link to continue reading.
Table of contents Background Part I Part II Clause 1 (Definitions and Interpretation) Clause 2 (Sale and Purchase) Clause 3 (Subjects) Clause 4 (Purchase Price) Clause 5 (Deposit) Clause 6 (Inspection) Clause 7 (Buyers’ On-board Representatives) Clau... Please follow the link to continue reading.
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BIMCO collects, assesses, and distributes information related to holidays
