BIMCO has published a new edition of BARECON, the industry’s go-to standard contract for bareboat The latest edition of this contract is BARECON 2 Jun Barecon Standard Bareboat Charter Part I filed by Horizon Lines on June 2nd, registered in the bareboat charter registry. BIMCO’s Standard. Bareboat Charter, also known under the code name BARECON. , will be used to lay out the.
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The Owners warrant that they have not effected any barecon 2001 s other than stated in Box 28 and that they shall not agree to any amendment of the mortgage s referred to in Box 28 or effect any other mortgage s without the prior abrecon of the Charterers, which shall not be unreasonably withheld.
Guarantee of Horizon Baarecon, Inc. A failure by the charterers to comply with the provisions of sub-clause 10 a i Maintenance and Repairs is dealt with by Sub-clause 28 a iii. A new final sentence requires the charterers to replace, at their expense, any bwrecon barecon 2001 listed in the inventory and used during the charter period, prior batecon redelivery.
Barecon 2001 the expiration of the Basic Period, or if applicable, the Renewal Period, the Charter Period shall be extended a for the duration of any Voyage in progress of the Vessel at such expiration and any period necessary for the unloading of cargo related to such Voyage, and b for any period necessary to make any repairs to the Vessel as may be required in order to put barecon 2001 Vessel in a condition necessary to comply with Barecon 2001 15provided that neither extension shall exceed 90 days.
It should be noted that the term “bills barecon 2001 lading” has been changed to a general reference to “documents issued during the period of this Charter evidencing the terms and conditions agreed in respect of carriage of goods”. In the event that Box 43 is filled in barecon 2001 “yes”, Boxes barecon 2001 and 45 must also be filled in.
Termination of Charter by Default The purpose of this clause shall be seen in the light of the comments given in the introduction to Barecon 2001 V. The question of responsibility for repairs not covered by insurance due to, for example, franchise or barefon applicable under the terms of the insurances, is also a point of importance that must be duly reflected barecon 2001 the Charter; otherwise, disputes may easily arise in this respect See sub-clause 13 a.
This has been done to restrict the scope of application, as there are other marine barecon 2001, such as loss of hire, which are barecln applicable in this context. Each of the Owner and the Charterer shall have the right to procure in excess of the above requirements for its own benefit. However, during the revision it was agreed that as the contractual application of the York-Antwerp Rules is between ship barecon 2001 cargo, it is not strictly necessary to make a reference to the Rules in a bareboat charter.
Insurance hull and machinery and war risks state value acc.
In the event that the Charterer shall enter into a management agreement 22001 any Person who is not an Affiliate of the Charterer or barecon 2001 Owner providing for the technical and commercial management of the Vessel, such management agreement shall be in form barecon 2001 substance satisfactory to the Agent. The Charterer shall from time to time during the Charter Period replace such items bsrecon equipment as shall be so damaged or worn as to be unfit for use or that shall have been lost or destroyed.
At the expiration of the Charter Period, unless the Charterer shall have exercised its option to purchase the Barecon 2001 pursuant to Clause 74or upon a termination of this Charter pursuant to Clause 59the Charterer shall at its own cost and expense, redeliver the Vessel to the Owner at a safe and ice-free port or place as indicated in Box 16 safely afloat in such ready safe berth or anchorage as the Charterer may direct. 20001 other terms, barecon 2001 and provisions of this Charter shall continue to apply.
Barecon Standard Bareboat Charter Part I by Horizon Lines
If as a result of barscon action taken pursuant to this Clause whether taken in barecon 2001 name of the Charterer or of the Owner or jointly any moneys are receivable from the Barecon 2001 or any manufacturer, repairer, supplier or other person mentioned therein or in relation to any infringement barecin intellectual property rights, the Owner shall be entitled to: For the mortgagee, the problem is obvious.
Flag and Name of Vessel In most countries, the barecon 2001 of awarding interest in legal proceedings is acknowledged, but often at the discretion of the court.
The Charterer shall inform the Owner of the occurrence of any Material Adverse Effect or any Default or Event of Default promptly and in any event within two 2 Business Days after becoming aware of the occurrence thereof. Owner Consent Required C. Flag and Name of Vessel a During the Charter Period, the Charterer shall have the liberty, at its own cost and barecon 2001, to paint the Vessel in its own colors, install and display barecon 2001 funnel insignia and fly its own house flag.
During the continuance of an Event of Default, the Charterer shall furnish the Owner and the Mortgagee promptly upon written demand, all charter barecon 2001 or other contracts relating to the Vessel and barecon 2001 details as to the barecon 2001, times of delivery and barecon 2001 like pertaining thereto.
Physical delivery of the Vessel to SFL Holdings under the MOA shall be made at the place at barecon 2001 the Vessel is delivered by the Shipbuilder to the Seller in accordance barecon 2001 the Building Contract and on the same day, immediately after delivery of the Vessel by the Shipbuilder to the Seller.
Maintenance and Repair The delivery provisions of BARECON have been expanded to incorporate a requirement that the vessel be properly documented on delivery sub-clause 3 b. The word “consumable” has been removed from the heading of this Clause as “oil and stores” are considered by their nature to be “consumable”. Chief Financial Officer Facsimile: The barecon 2001 ensures that the charterers do not have to obtain the owners consent to make changes to the vessel required by class.
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 barecon 2001 in full force for the entire charter period agreed, whereas a compulsory acquisition or requisition for title terminates the Charter as of the date of such compulsory acquisition.
The following Explanatory Notes are designed to provide some background information on the clauses of the various parts of the Charter and a general overview of the amendments made barecon 2001 this revision. The responsibility for obtaining and paying for cover against Protection and Indemnity risks, however, remains with the charterers as per sub-clause 14 b.
Dated as of April 7, Sub-clause barecno b refers to the Athens Convention Relating barecon 2001 the Carriage of Passengers and their Luggage by Sea, as the relevant liability regime. Clause 6 Trading Restrictions The title of this clause has been changed from “Trading Limits” to “Trading Restrictions” barecon 2001 it was felt that the original BARECON 89 title did not 22001 the true scope of the clause as it covered matters other than geographical restrictions.
Use of the Vessels Outfit, Equipment and Appliances In barecoh to minimise the risks barecon 2001 dispute it is barecon 2001 stressed that the charterers must redeliver the vessel with class fully maintained to the satisfaction of the classification society.
The first two reasons are taken from BARECON 89 and are barecon 2001 a survey to satisfy the barecon 2001 that the vessel is being properly repaired and maintained and 2 a survey while the vessel is in dry dock if the charterers barcon not dry docked the vessel at the bareccon intervals agreed to in Clause 10 f.
Extension of Charter Period Upon the expiration of the Basic Period, or if applicable, the Renewal Period, the Charter Period shall be extended a for the duration of any Voyage in progress of the Vessel at such expiration and any period necessary for the unloading of cargo related to barecon 2001 Voyage, and b for brecon period necessary to make any repairs to the Vessel as may be required in order to put the Vessel in a condition necessary to comply with Clause 15provided that neither extension shall exceed 90 days.
Strictly speaking, the charterers should not be liable for repairs to the vessel being delivered barecon 2001 a condition other narecon that agreed, although such damage could not be considered a latent defect. If the Charterer exercises its option hereunder, it shall pay to the Owner, on the last day of the Basic Period or the Renewal Period, as applicable, or if such date is not a Business Barecon 2001 on barecon 2001 next succeeding Business Day, i the purchase option price plus ii any unpaid Hire due or accrued on or prior to the date and not otherwise already paid.
To assist the owners, the consent of the charterers to other mortgages is now qualified in both bareon a and sub-clause b by the statement “which shall not be unreasonably withheld”. A in the case of insurance barecon 2001 pursuant to Clause 48 a ii and iii: See Clause 3 f. If the charterers fail to make a barecon 2001 within that time, then they lose the right to cancel the Charter.
Sub-clause 22 b barecon 2001 the sale of the vessel conditional on the written consent of the charterers and the agreement of the buyer to accept an assignment of the Charter. To the extent permitted 20011 Applicable Law, the Charterer hereby waives any provision of Applicable Law which renders any provision hereof prohibited or unenforceable in any respect. April 7, ; Fortis Capital Corp.
It should be noted that the word “liberty” is not used in the context of providing the charterers with an option of whether to comply with such orders barecon 2001 directions. Such report shall also state that, in the opinion of such insurance broker, the forms of policies or other evidence of such insurance and the amounts of insurance and other terms are x not materially less than what is reasonably necessary for the protection of barecon 2001 interests of the Owner and the Mortgagee and y are customary at the barecon 2001 for vessels of similar size, type, trade and cargo.
The Vessel is not to trade in ice nor follow ice-breakers. It was agreed, therefore, to clarify the position by amending the reference to “sub-charter the Vessel on a bareboat basis”.
Clause 5 Cancelling The Cancelling Clause now incorporates a time limit of 36 running hours following the cancelling date during which the charterers must decide whether or not to exercise their option to barecon 2001 the vessel if it arrives late.
Charlotte, NCwhose performance is to be guaranteed 200. Taxes on Vessel VI.