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In a clear sign of industry support for BIMCO’s initiative to develop a new ship sale and purchase agreement, the organisation has received over 800 individual comments on its consultation draft, which will shape the final version of the agreement.
Two new contracts will be presented for review at the next Documentary Committee meeting on 6 June 2017 in Rome.
BIMCO has produced its own ship sale and purchase agreement - SHIPSALE 22 – with the aim of making 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.
In January 2021, BIMCO will be inviting the industry to view and offer feedback on the new Ship Sale Agreement in the pipeline. The new form is on track for publication in 2021.
We often receive enquiries about UN 3077 cargoes, most recently about whether a tripartite agreement is required for such cargoes under the IMSBC Code.
On 4 March 2023, 190 countries approved a landmark agreement to protect areas of the ocean beyond national jurisdiction- the agreement confirms the importance of the role of the IMO in regulating international shipping.
The Novation Agreement for Shipbuilding Contracts is an agreement between the parties to novate the shipbuilding contract from the original buyers to the new buyers on terms set out in the agreement. The latest edition of this contract is the Novation Agreement for Shipbuilding Contracts, issued in 2016. Copyright in the Novation Agreement for Shipbuilding Contracts is held by BIMCO.
