BARECON 2001 PDF

BARECON 2001 PDF

Fill Barecon , download blank or editable online. Sign, fax and printable from PC, iPad, tablet or mobile with PDFfiller ✓ Instantly ✓ No software. Try Now!. BIMCO has recently published its new BARECON following a review of its predecessor, BARECON This revision represents a significant update to. Barecon Standard Bareboat Charter Part I filed by Horizon Lines on June 2nd,

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Although Clauses 3 Time for Delivery and 14 Redelivery of BARECON 89 together provided information about the charter period, it was felt that a logical and useful addition to the Charter would be a specific new clause stating the period. Date of last special survey by the Vessel’s classification society.

BARECON 2001

Department of the Treasury before delivery of the Vessel hereunder, then the Charterers will be in default and the Charter will automatically and without any further action be terminated. Surveys on Delivery and Redelivery 8. Insurance against liability under law or international convention arising out of pollution, spillage or leakage in an amount not less than the maximum amount available, as that amount may from time to time change, from the IGA Clubs or alternatively such sources of pollution, spillage or leakage coverage as are commercially available in any absence of such coverage by the IGA Clubs as shall be carried by prudent shipowners for similar vessels engaged in similar trades plus amounts available from customary excess insurers of such risks as excess amounts, if any, as shall be carried by prudent shipowners for similar vessels engaged in similar trades, in each case to the extent commercially available and carried by other responsible and experienced companies engaged in the operation of vessels similar to the Vessel.

Purchase Options at End Thereof.

Insurance proceeds received in respect of a Total Loss of the Vessel shall be applied as follows: Use of the Vessel’s Outfit, Equipment and G. Frequency of dry-docking Cl. If any provision of this Charter is prohibited or unenforceable in any jurisdiction such prohibition or unenforceability shall not invalidate the remaining provisions hereof or affect the validity bzrecon enforceability of such provision in any other jurisdiction.

The Charterers undertake with the Owners that throughout the Charter Period: The Owners or the Charterers as the case may be shall immediately furnish the other party with particulars of any additional insurance barrcon, including copies of any cover notes or policies and the written consent of the insurers of any such required insurance in any case where the consent of such insurers is necessary. Clause 7 Surveys on Delivery and Redelivery This Clause deals with braecon usual on-hire survey and off-hire survey procedures and allocation of cost and time between the contracting parties.

The Owners are entitled to inspect copies of the Vessel’s logs and records subject to a prior written notice from the Owners at any reasonable time. The Sellers guarantee that the Vessel, at the time of delivery, is free from all encumbrances and maritime liens or any debts whatsoever other than those arising from anything done or not done by the Buyers or any existing mortgage agreed not to be paid off by the time of delivery.

The Charterer shall comply with all Applicable Laws, treaties and conventions, and rules and regulations to which the United Barecoj is a party and of any jurisdiction where the Vessel operates and shall cause the Vessel to have on board, as and when required varecon, valid certificates showing compliance therewith.

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Insurance hull and machinery and war risks state value acc. Any consent by the Owners under this Charter must be made in writing. If, in compliance with the provisions of this Clause, anything is done or is not done, such shall not be deemed a deviation but shall be considered due fulfilment of this Charter.

And after the sixth 6 year, value as follows. Sub-clause 17 b provides an indemnity to protect the charterers against any loss, damage, or expense including hire under the contract arising out of arrest or detention for which the owners are responsible.

Any amendment of any provision of this Charter shall only be effective if the Owners and the Charterers so agree in writing.

The Charterers undertake not to employ the Vessel or suffer the Vessel to be employed otherwise than in conformity with narecon terms of the contracts of insurance including any warranties expressed or implied therein without first complying with such requirements as to extra premium or otherwise as the insurers may prescribe. This obligation shall apply whether or not such requirements have been lawfully imposed by such government or division or authority thereof.

Maritime Security Program Subsidy. No express or implied waiver by the Owner of any Bagecon or Event of Default shall in any way be, or be construed to be, a waiver of any further or subsequent Default or Event of Default. The final barcon of the Barecom Clause has been amended to require the charterers to ensure that the vessel’s trading certificates, in addition to class certificates, are valid and up to date for the agreed number of months.

The word “expensive” has been removed from the reference to new equipment required for the continuing operation of the vessel, as the provision already adequately defines a threshold barcon for new equipment and the word “expensive” could, arguably, be used to qualify further that threshold.

All other terms, conditions and provisions of this Charter shall continue to apply. The Charterers also undertake not to employ the Vessel or suffer her employment in any trade or business which is forbidden by the law of any country to which the Vessel may sail or is otherwise illicit or in carrying illicit or prohibited goods or in any manner whatsoever which may render her liable to condemnation, destruction, seizure or confiscation.

It is acknowledged and agreed that, following the satisfaction of the conditions precedent set forth in Article V of the Agreement to Acquire 20011 Charter, acceptance of the Vessel by SFL Holdings from the Seller, and the concurrent transfer of all right, title and.

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Clause 25, the provisions of which are identical to those in BARECON 89, was drafted on the basis that in case of requisition for hire, the Charter remains in full force for the entire barecpn period agreed, whereas a compulsory acquisition or requisition for title terminates the Charter as of the date of such compulsory acquisition.

Sub-clause 5 aas discussed above, deals with the charterers’ bwrecon to cancel if the vessel arrives after the cancelling date. If the Vessel has cargo on board after discharge thereof at destination, or if debarred under this Clause from reaching or entering it at a near, open and safe port as directed by the Owners, or if the Vessel has no cargo on board, at the port at which the Vessel then is or if at sea at a near, open and safe port as directed by the Owners.

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Notwithstanding anything to the contrary contained in Clause 13 and any other provisions hereof, the Vessel shall be kept insured during the Charter Period in respect of marine and war risks on hull and machinery basis including increased value if applicable for not less than the amounts specified in column b of the table set out below in respect of the one-year period during the Charter Period specified in column a on the assumption that the first such period commences on the Delivery Date against such amount hereinafter referred to as the “Minimum Insured Value”: The termination of the contract due to a failure to make a timely payment of the final instalment of hire could, potentially, be disastrous for the charterers.

Built Hyundai Mipo Dockyard Co. Liquidated damages and costs shall accrue to state party acc. Republic of Liberia See Clauses 10 d and The Vessel with everything belonging to her shall be at Buyers, subject to the conditions of this Contract and the Vessel with everything belonging to her shall be delivered and taken over as she is at the time of delivery, after which the Sellers shall have no responsibility for possible faults or deficiencies of any description.

In the event a vessel is barecom chartered out to a Bareboat Charter Registry, should his mortgage, covering that vessel, be recorded in the registry of the original country, i. See Clause 51 The Vessel upon redelivery shall have her survey cycles up to date and trading and class certificates valid for at least the number of months agreed in Box The parties should be aware that the mediation process may not necessarily interrupt time. Whereas it is not possible to cover this subject in detail in a standard bareboat charter, the sub-clause at least serves to remind the parties abrecon the problem and to try to implement some general provisions that take care of the matter in a reasonable manner, such 200 suggested in the last paragraph of sub-clause 10 b.

The first paragraph of this clause, therefore, provides that it is the charterers who, on behalf of the mortgagee, shall direct the owners to re-register the vessel in the Underlying Registry if the owners fail to honour their obligations under the mortgage. Get email updates when Scorpio Bulkers Inc. Specifications and Building Contract.

The Charterers have to advise the Owners about the performance to the extent the Owners may request. It was felt that such wording put the brokers in a better position than was customary in the industry. Clause 17 also incorporates reciprocal indemnities for the owners to indemnify the charterers against the consequences of arrest.

It is important to note that in some jurisdictions, such as the United States, the Non-Lien Clause might not be valid because the suppliers will not be aware of specific provisions in the bareboat charter.

Number of additional clauses covering special provisions, if agreed. To place such a burden on the owners would be unfair unless the hire was to be renegotiated.