The Novation Agreement for the Substitution of Time Charterers is an agreement between the parties to novate the time charter party from the original charterers to the new charterers on terms set out in the agreement. The latest edition of this contract is the Novation Agreement for the Substitution of Time Charterers, issued in 2016.
Copyright in the Novation Agreement for the Substitution of Time Charterers is held by BIMCO.
Sample copy of Novation Agreement for the Substitution of Time Charterers
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Anna Wollin (BIMCO), Chris Kidd (Ince and Co) and Donald Chard (Arbitrator and BIMCO consultant) provide an overview of the Standard Novation Agreements.
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