BIMCO Standard Shipbuilding Contract Progress Report Tripartite Meeting October 2005.
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BIMCO Standard BIMCO Standard Shipbuilding Contract Shipbuilding Contract Progress Progress Report Report Tripartite Meeting October 2005
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Transcript of BIMCO Standard Shipbuilding Contract Progress Report Tripartite Meeting October 2005.
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
Progress ReportProgress ReportTripartite Meeting
October 2005
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
• Background
• Project Team
• Project Timetable
• Mission Statement
• Method and Format
• Structure
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
PROJECT TEAM
Sub-committee
Nils Gustaf Palmgren(Chairman)
Finland
Georg ScheelNordiskNorway
Daniel EvansThomas Miller
UK
David TaylorInternational Underwriters
Association (IUA)
Zhang MingChina Shipbuilders
China
Hiroshi SugiuraNYK
Japan
Amund SkouIACS
James MasonWellington
UnderwritersUK
A A SpyrantisSun Enterprises Ltd
Greece
Rajeev PhilipsINTERTANKO
Drafting Group
Nils Gustaf Palmgren(Chairman)
Finland
Georg ScheelNordiskNorway
Daniel EvansThomas Miller
UK
Chris HiltonEversheds
UK
Chris KiddInce & Co
UK
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
• Background
• Project Team
• Project Timetable
• Mission Statement
• Method and Format
• Structure
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
Project Timeline
FinishMay 2007
StartJuly 2005
Review by Documentary
CommitteeMay 2006
TripartiteOct 2006
TripartiteOct 2005
DraftingGroup
Review by Documentary
CommitteeNov 2005
DraftingGroup
DraftingGroup
DraftingGroup
DraftingGroup
SubCommittee
Meeting
SubCommittee
Meeting
SubCommitteeMeetings
SubCommittee
Meeting
SubCommittee
Meeting
DraftingGroup
Review by Documentary
CommitteeNov 2006
DraftingGroup
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
• Background
• Project Team
• Project Timetable
• Mission Statement
• Method and Format
• Structure
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
MISSION STATEMENT
1. In developing a Standard Shipbuilding Contract, BIMCO’s objective is to produce a single, comprehensive document that will be applicable to all ship types and in all jurisdictions. In addition it will serve as a benchmark for the key provisions that should be contained in any shipbuilding contract and will facilitate negotiation.
The Contract will build upon and not simply replicate the terms of existing contracts. It is the intention that the Contract will be drafted with the involvement of shipowners and shipyards and with the support of other relevant parties to produce a document that is acceptable to all. 2. Such a Contract will provide:Clarity - so that the parties can easily identify their rights and obligations and reduce the risk of disputes on matters of interpretation of contract terms; Balance - so that the liabilities are equally apportioned between the parties;Harmonisation – the use of standard wordings across the industry to help facilitate the business process.
3. BIMCO is renowned for its extensive experience and success in creating modern, quality documents for global use that set industry standards. Such documents may replace existing standard forms or private contracts. It is BIMCO’s objective to maintain its position at the forefront of the development of documentation and to further strengthen its role as the recognised leader in the development of standard documentation for the benefit of the entire maritime industry. In this respect, it is BIMCO’s goal to produce a standard form of contract for use in each niche of the shipping industry.
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
MISSION STATEMENT
1. In developing a Standard Shipbuilding Contract, BIMCO’s objective is to produce a single, comprehensive document that will be applicable to all ship types and in all jurisdictions. In addition it will serve as a benchmark for the key provisions that should be contained in any shipbuilding contract and will facilitate negotiation.
The Contract will build upon and not simply replicate the terms of existing contracts. It is the intention that the Contract will be drafted with the involvement of shipowners and shipyards and with the support of other relevant parties to produce a document that is acceptable to all. 2. Such a Contract will provide:Clarity - so that the parties can easily identify their rights and obligations and reduce the risk of disputes on matters of interpretation of contract terms; Balance - so that the liabilities are equally apportioned between the parties;Harmonisation – the use of standard wordings across the industry to help facilitate the business process.
3. BIMCO is renowned for its extensive experience and success in creating modern, quality documents for global use that set industry standards. Such documents may replace existing standard forms or private contracts. It is BIMCO’s objective to maintain its position at the forefront of the development of documentation and to further strengthen its role as the recognised leader in the development of standard documentation for the benefit of the entire maritime industry. In this respect, it is BIMCO’s goal to produce a standard form of contract for use in each niche of the shipping industry.
1. In developing a Standard Shipbuilding Contract, BIMCO’s objective is to produce a single, comprehensive document that will be applicable to all ship types and in all jurisdictions. In addition it will serve as a benchmark for the key provisions that should be contained in any shipbuilding contract and will facilitate negotiation.
The Contract will build upon and not simply replicate the terms of existing contracts. It is the intention that the Contract will be drafted with the involvement of shipowners and shipyards and with the support of other relevant parties to produce a document that is acceptable to all.
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
MISSION STATEMENT
1. In developing a Standard Shipbuilding Contract, BIMCO’s objective is to produce a single, comprehensive document that will be applicable to all ship types and in all jurisdictions. In addition it will serve as a benchmark for the key provisions that should be contained in any shipbuilding contract and will facilitate negotiation.
The Contract will build upon and not simply replicate the terms of existing contracts. It is the intention that the Contract will be drafted with the involvement of shipowners and shipyards and with the support of other relevant parties to produce a document that is acceptable to all. 2. Such a Contract will provide:Clarity - so that the parties can easily identify their rights and obligations and reduce the risk of disputes on matters of interpretation of contract terms; Balance - so that the liabilities are equally apportioned between the parties;Harmonisation – the use of standard wordings across the industry to help facilitate the business process.
3. BIMCO is renowned for its extensive experience and success in creating modern, quality documents for global use that set industry standards. Such documents may replace existing standard forms or private contracts. It is BIMCO’s objective to maintain its position at the forefront of the development of documentation and to further strengthen its role as the recognised leader in the development of standard documentation for the benefit of the entire maritime industry. In this respect, it is BIMCO’s goal to produce a standard form of contract for use in each niche of the shipping industry.
2. Such a Contract will provide:Clarity - so that the parties can easily identify their rights and obligations and reduce the risk of disputes on matters of interpretation of contract terms; Balance - so that the liabilities are equally apportioned between the parties;Harmonisation – the use of standard wordings across the industry to help facilitate the business process.
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
MISSION STATEMENT
1. In developing a Standard Shipbuilding Contract, BIMCO’s objective is to produce a single, comprehensive document that will be applicable to all ship types and in all jurisdictions. In addition it will serve as a benchmark for the key provisions that should be contained in any shipbuilding contract and will facilitate negotiation.
The Contract will build upon and not simply replicate the terms of existing contracts. It is the intention that the Contract will be drafted with the involvement of shipowners and shipyards and with the support of other relevant parties to produce a document that is acceptable to all. 2. Such a Contract will provide:Clarity - so that the parties can easily identify their rights and obligations and reduce the risk of disputes on matters of interpretation of contract terms; Balance - so that the liabilities are equally apportioned between the parties;Harmonisation – the use of standard wordings across the industry to help facilitate the business process.
3. BIMCO is renowned for its extensive experience and success in creating modern, quality documents for global use that set industry standards. Such documents may replace existing standard forms or private contracts. It is BIMCO’s objective to maintain its position at the forefront of the development of documentation and to further strengthen its role as the recognised leader in the development of standard documentation for the benefit of the entire maritime industry. In this respect, it is BIMCO’s goal to produce a standard form of contract for use in each niche of the shipping industry.
3. BIMCO is renowned for its extensive experience and success in creating modern, quality documents for global use that set industry standards. Such documents may replace existing standard forms or private contracts. It is BIMCO’s objective to maintain its position at the forefront of the development of documentation and to further strengthen its role as the recognised leader in the development of standard documentation for the benefit of the entire maritime industry. In this respect, it is BIMCO’s goal to produce a standard form of contract for use in each niche of the shipping industry.
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
• Background
• Project Team
• Project Timetable
• Mission Statement
• Method and Format
• Structure
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
SUNDRY
FACTS
LEGAL
PRODUCTION
FINANCIAL
DEFINITIONS
NEW AREAS
PREAMBLE
ANNEXES
BIMCO Standard Shipbuilding
Contract Draft Structure
18/10/2005 - v12
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
SUNDRY
FACTS
LEGAL
PRODUCTION
FINANCIAL
DEFINITIONS
NEW AREAS
PREAMBLE
ANNEXES
BIMCO Standard Shipbuilding
Contract Draft Structure
18/10/2005 - v12
Price paid
Adjustment of price
Insurance
Taxes and dues
Guarantees
Escalation/de-escalation
Currency
Right to set-off
Interest
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
SUNDRY
FACTS
LEGALPRODUCTION
FINANCIAL
DEFINITIONS
NEW AREAS
PREAMBLE
ANNEXES
BIMCO
Standard Shipbuilding
Contract Draft Structure
18/10/2005 - v12
Supervision and approvals
Inspection
Tests and trials
Amendments/modifications
Deviations
Delivery
Sub-contracting
Buyers' supplied items
Buyers' representative
Substitution of materials
Delay
Documents on delivery
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
SUNDRY
FACTS
LEGAL
PRODUCTION
FINANCIAL
DEFINITIONS
NEW AREAS
PREAMBLE
ANNEXES
BIMCO Standard Shipbuilding Contract Draft Structure
18/10/2005 - v12
Liabilities
Sanctions
Remedies
Rights
Copyrights/patents
Jurisdiction and dispute resolution
Buyers' default
Builders' default
Force majeure/permissable delays
Warranties
Title
Risk
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
SUNDRY
FACTS
LEGALPRODUCTION
FINANCIAL
DEFINITIONSNEW AREAS
PREAMBLE
ANNEXES
BIMCO Standard Shipbuilding
Contract Draft Structure
18/10/2005 - v12
Green clauses
Green Passport
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
SUNDRY
FACTS
LEGAL
PRODUCTION
FINANCIAL
DEFINITIONS
NEW AREAS
PREAMBLE
ANNEXES
BIMCO Standard Shipbuilding Contract Draft Structure
18/10/2005 - v12
Contracting partiesContractor
ShipownerNominee
YardWhere built
Who is liable
Regulations
Flag
Class
Description of ship (Spec)
Dimensions and characteristics
LOA
LBP
GT
Breadth moulded
Loaded draft
Propelling machinery
Deadweight
Trial speed
Fuel consumption
Yard number
Makers' list
Design
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
SUNDRY
FACTS
LEGAL PRODUCTION
FINANCIAL
DEFINITIONS
NEW AREAS
PREAMBLE
ANNEXES
BIMCO Standard Shipbuilding
Contract Draft Structure
18/10/2005 - v12
Work Variation Form
Specification
Refund gurantees
Tariff for modifications
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
SUNDRY
FACTS
LEGAL
PRODUCTION
FINANCIAL
DEFINITIONS
NEW AREAS
PREAMBLE
ANNEXES
BIMCO Standard Shipbuilding
Contract Draft Structure
18/10/2005 - v12
Notices
Effective date of contract
Assignment
Options
Entire agreement
Third party rights
BIMCO Standard BIMCO Standard Shipbuilding ContractShipbuilding Contract
