SHIPSALE 22 aims to make the authoring, negotiation and execution process faster and simpler, and to provide the market with a modern and comprehensive alternative to existing sale and purchase forms.
For the first time, BIMCO has produced its own ship sale and purchase agreement. The project has taken the standards organisation just over two years to complete, involving a drafting team of nine industry specialists who provided broking, legal and commercial expertise.
The process has also included an extensive industry consultation that provided the drafting team with over 800 comments and suggestions on the draft agreement, ultimately resulting in a standard Memorandum of Agreement that closely follows the typical chronological sequence of events that play out in an S&P transaction.
Despite being a new and more modern agreement, it retains the necessary familiarity for users transitioning from other forms used for buying and selling ships.
ATTENDANCE AT THIS EVENT IS FREE FOR LSLC AND BIMCO MEMBERS. FEES FOR NON-MEMBERS APPLY