Non-Lien Provisions, suggested amplification of Clause 18 of NYPE 1946
Overview
BIMCO Non-Lien Provisions, suggested amplification of Clause 18 of NYPE 1946
Suggested amplification of non-lien provision in Clause 18 of New York Produce Exchange Form of Time Charter 1946 following amendment to U.S. Ship Mortgage Act in 1971.
Charterers will not suffer, nor permit to be continued, any lien or encumbrance incurred by them or their agents, which might have priority over the title and interest of the owners in the vessel. In no event shall Charterers procure, or permit to be procured, for the vessel, any supplies, necessaries or services without previously obtaining a statement signed by an authorized representative of the furnisher thereof, acknowledging that such supplies, necessaries or services are being furnished on the credit of Charterers and not on the credit of the Vessel or of her Owners, and that the furnisher claims no maritime lien on the Vessel therefor.
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