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New features include an option for the charterers to extend the charter period; tighter notice requirements on delivery and redelivery; a right for the charterers to place staff on board for familiarisation prior to delivery; and a suggested formula to help calculate charterers’ contribution for mandatory modifications and new equipment required during the charter period.
The most significant changes to BARECON are the insurance provisions. In May 2017 the UK Supreme Court gave judgment in the “Ocean Victory”. Among the issues dealt with by the Supreme Court was the impact of BARECON’s insurance provisions on the right to claim against third parties. Although the case is of greater significance to insurers than bareboat owners and charterers, we took the opportunity to spell out in very clear terms how BARECON’s insurance provisions are intended to work in this context.
This booklet includes a sample copy of the BARECON 2017 contract and the related explanatory notes in the latest version. The explanatory notes provide some background to the thinking behind the BIMCO contract.
The new edition of BARECON is slightly leaner than its predecessor because we have removed provisions that were no longer relevant and consolidated wordings to avoid unnecessary duplication. We have added a number of new and helpful definitions to the contract that have been requested by users – not least of which is a definition of “latent defects”.
NOTE: this is not an editable form. If you want that, you will need to purchase our contract editor SmartCon.