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BARECON is a bareboat charter party. It is a lease agreement whereby the charterer obtains possession and full control of the ship along with the legal and financial responsibility for it. The charterer generally pays for all operating expenses, including fuel, crew, maintenance, repairs, and P&I and hull insurance. The latest edition of this contract is BARECON 2017
BIMCO has published a new edition of BARECON, the industry’s go-to standard contract for bareboat chartering.
16 years after its last update, the new edition of BARECON is close to completion.
BARECON is a bareboat charter party. It is a lease agreement whereby the charterer obtains possession and full control of the ship along with the legal and financial responsibility for it. The charterer generally pays for all operating expenses, including fuel, crew, maintenance, repairs, and P&I and hull insurance. The latest edition of this contract is BARECON 2017. Copyright in BARECON 2001 is held by BIMCO.
The latest edition of this contract is BARECON 2017. Copyright in BARECON 89 is held by BIMCO.
BIMCO has published a new edition of BARECON, the industry’s go-to standard contract for bareboat chartering.
The revision of BIMCO’s industry standard bareboat charter party, BARECON 2001, has been going on for over a year now. The draft has been circulated to more than 20 companies or individuals in the bareboat chartering industry for comments and feedback.
Latest news about BIMCO's contracts and clauses: New novation agreements; update on revision of SUPPLYTIME, BARECON and WORLDFOOD charter parties; update on Standard Term Sheet.
BARECON 2001 is being updated to reflect changes in commercial practice and legal development in the 15 years since it was published. At a meeting held at BIMCO House on 29 September the focus of the revision team was the hire and termination provisions.
Following swiftly on the heels of the recent Ocean Victory judgment by the UK Supreme Court, the BARECON revision team has reviewed the insurance clauses of this widely used contract.
