Shipmanagers' Letter of Undertaking

Overview

The Shipmanagers’ Letter of Undertaking (LoU) is a model letter for use in third party arrangements where shipmanagers maintain and operate the vessel but have no financial involvement or interest in its ownership. The content of the LoU is based on provisions commonly found in market documentation but creates a more equitable starting point for discussions. The BIMCO LoU aims to eliminate the need for often protracted party negotiations where points argued in previous cases are frequently repeated, which can be time-consuming and adds to costs.

Copyright in Shipmanagers’ Letter of Undertaking is held by BIMCO.

Shipmanagers' Letter of Undertaking

Supporting documents

  • Download Icon
    0.2 MB

    Sample copy of Shipmanagers’ Letter of Undertaking

    Download now

Log in to see the explanatory notes

BIMCO members have access to the supporting explanatory notes. If you are a member and would like to access these, please login using the orange LOGIN OR REGISTER button at the top of the page.

Create or edit a contract

The one-stop digital shop for all the standard maritime contracts and clauses you’ll ever need.

 
 

Latest Related News

View All News

ELSEWHERE ON BIMCO

Holiday calendar

BIMCO's Holiday Calendar covers general holidays in over 150 countries, plus local holidays and working hours in more than 680 ports around the world.

Taxes, tariffs & charges

Access information on national, regional or port tariffs, taxes and charges.

Learn about your cargo

For general guidance and information on cargo-related queries.

More about cargo