QEL and QEL (SHORTFORM) are two standard Quiet Enjoyment Letters (QELs) for use in ship financing transactions. The two QELs are intended for bareboat and time charter parties as well as ship leasing structures and complement the suite of BIMCO term sheets for ship financing (SHIPTERM and SHIPTERM S... Please follow the link to continue reading.
QEL and QEL (SHORTFORM) are two standard Quiet Enjoyment Letters (QELs) for use in ship financing transactions. The two QELs are intended for bareboat and time charter parties as well as ship leasing structures and complement the suite of BIMCO term sheets for ship financing (SHIPTERM and SHIPTERM S... Please follow the link to continue reading.
After a meeting at Wah Kwong’s offices in Hong Kong, the drafting team has now finalised the first draft Quiet Enjoyment Letter ready for industry consultation.
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing institutions and private practice lawyers from Asia, Europe and the US began work this week to develop a standard letter of quiet enjoyment (LQE) for use in long term charter and leasing str... Please follow the link to continue reading.
Background Until the publication of the QEL and QEL (SHORTFORM), no such standard form was available in the market. Although QELs may often be perceived as only benefiting the charterer, in most cases, they will be beneficial to the lenders as preserving the charterers’ uninterrupted use and enjoyme... Please follow the link to continue reading.
Background Until the publication of the QEL and QEL (SHORTFORM), no such standard form was available in the market. Although QELs may often be perceived as only benefiting the charterer, in most cases, they will be beneficial to the lenders as preserving the charterers’ uninterrupted use and enjoyme... Please follow the link to continue reading.
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry
The BIMCO Documentary Committee (DC) is convening on 11 October to discuss and potentially adopt six crucial projects, including the CII Clause for Voyage Charter Parties, Ship Sales Further Trading Clause, ETS Allowances (ETS) Clause for SHIPMAN, Quiet Enjoyment Letters, SYNACOMEX, and WRECKSTAGE.
Table of contents Nature of the term sheet Part I Part II Clause 1 (Transaction) Clause 2 (Transaction Documents) Clause 3 (Memorandum of Agreement) Clause 4 (Purchase Price) Clause 5 (Bareboat Charter) Clause 6 (Hire) Clause 7 (Charter Period) Claus... Please follow the link to continue reading.
