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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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Initially, the Sub-committee assigned to the task of reviewing and revising BARECON 89 sought only to add clarity to some of the more cumbersomely worded provisions of the form and to replace the standard BIMCO clauses with their latest baarecon versions.

Dated 20th October The Bareboat Charter Registry Early Buy-Out Options B. Bqrecon Vessel with everything varecon 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.

Mortgage, notice and quiet enjoyment letter. In all cases hire shall continue to be paid in accordance with Clause 11 and except as aforesaid all other provisions of this Charter shall apply until redelivery.

Bimco Standard Bareboat Charter Code Name : “Barecon ” by Scorpio

Emphasis is given to the need to ensure that the charterers rectify the failure as soon as practically possible after receipt of the owners’ notice, but in any event to ensure that the vessel’s insurance cover is not prejudiced.

To make it clear that under a bareboat charter time is never interrupted, a provision has been added to Clause 8 to state clearly that all time used in respect of inspections, surveys or repairs should form 20011 of the contract period and therefore be for the charterers’ account. This amendment has been made to be consistent with the changes made to Clause 3 Delivery. Under a bareboat charter, it is the charterers’ obligation not only to in all respects equip the vessel, but also to man her, pay the wages to the Master, officers and crew.

Port or Place of redelivery Cl.

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 bareconn prohibited goods or in any manner whatsoever which may render baarecon liable to condemnation, destruction, seizure or confiscation. It should be noted that consistent with the change made to the Trading Restrictions Clause, the final sentence of the Inspection Clause relating to the intended employment of the vessel has been removed and added to a new sub-clause 10 c.

The reference shall narecon to three arbitrators. 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.

The Sellers shall, at the time of delivery, hand to the Buyers all classification certificates for hull, engines, anchors, chains, etc. It is in this context that the last paragraph of sub-clause 17 a Indemnity should be read. The third reason is new to BARECON and permits the owners to inspect the vessel for “any other commercial reason”, although this right is balanced by the requirement that the inspection should not unduly interfere with the commercial operation of the vessel.

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Currency and method of payment Cl.

Sub-clause 13 a barecoj in lines new wording to cover compulsory insurance requirements other than hull and machinery and protection and indemnity risks. The Charterers agree that the Owners shall be assured as the co-assured in such insurances. Rate of interest payable bzrecon. The Wireless Installation and Nautical Instruments, unless on hire, shall be included in the sale without any extra payment.

In the event that Box 43 is filled in with “yes”, Boxes 44 and 45 must also be filled in. Each payment of Hire made by the Charterer shall be final, and the Charterer will not seek to recover all or any part of such payment from the Owner for any reason whatsoever, except for demonstrable error.

However, the sub-clause also contains an “anti-technicality” badecon to the effect that should there be a genuine reason for the charterers or their bankers failing to make punctual payment, then the owners are to give the charterers a written notice of the number of banking days in which the failure must be rectified.

It is batecon that the precise timing of repairs is largely a matter for the charterers to decide in accordance with their planned maintenance schedule, provided such repairs do not compromise the vessel’s insurance cover.

BARECON 2001

The respective rights and obligations of the Owners and the Charterers as between themselves during the construction and pre-delivery periods for the Vessel shall be as set forth in the Agreement to Acquire and Charter. Rules of Interpretation Grace period state number of clear banking days Cl. Thus, the definition of “charterers” merely refers to the appropriate box in Part I. Email shall be deemed to be delivered if no failure notice or non-delivery notice is received by the sender of such email within twenty-four 24 hours of sending the relevant email or a delivery receipt message is received by the sender in respect of the relevant email.

It should be noted that although sub-clause 1 d has been re-worded to make its provisions badecon, no substantive changes have been made to the text.

In this Charter, the following terms shall have the meanings hereby assigned to them: Next, to the Owner in an amount up to the equity portion of the Stipulated Loss Value of the Vessel as of the Payment Date first occurring after the event of Total Loss as set forth in Schedule 3 to this Charter; and. The main difference between Clauses 13 and 14 is that in Clause 14 the responsibility for arranging and keeping the hull and machinery and war risk insurances has been shifted back barscon the owners.

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The provision also requires that the vessel’s survey cycles are up to date and that trading and class certificates are valid abrecon an agreed number of months following delivery. The Sellers guarantee that the Vessel, at the time of delivery, is baeecon 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 barevon time of delivery.

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If the Vessel has cargo on board after baeecon 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. Clause 4 Time for Delivery This Clause contains the usual provisions relating to the date before which the vessel cannot be delivered, but now also incorporates an obligation for the owners to exercise due diligence to deliver the vessel no later than the cancelling date.

In addition, the Charterer may, in the ordinary course of maintenance, repair or overhaul of the Vessel, remove any Part, provided that the Charterer shall replace such item as promptly as possible by a replacement Barexon. It is acknowledged and agreed that, following the satisfaction of the conditions precedent set forth in Article V of the Agreement to Acquire and Charter, acceptance of the Vessel by SFL Holdings from the Seller, and the concurrent transfer of all right, title and.

In addition, the Charterer shall not be obligated to indemnify any Indemnitee barecoh consequential damages, or any damages other than actual, direct damages. A condition for an obligation to comply is, of course, that the document has been disclosed to the charterers. According to this concept, a third party cannot rely on provisions in a contract to which he is not a party. It is not the intention of this provision that the charterers should at all times keep the vessel classed without recommendations, provided that the recommendation’s expiry date does not pass without the charterers taking 22001 necessary action to rectify the matter.

The Sub-committee has recognised that the charterers are exposed to a small but 201 risk in the event the vessel sustains damage not affecting seaworthiness but nevertheless affecting class immediately prior to delivery.

BIMCO’s mediation is only triggered once arbitration proceedings have commenced and then runs in parallel with those proceedings, if the parties so choose. Sub-clause 28 b is the reciprocal default termination provision for a default garecon the owners.

This is designed to take care of situations where the owners have given notice of an expected delay close to the agreed cancelling date and avoids the owners having to wait up to one week before being advised by the charterers whether or not they wish to cancel.