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Following the successful launch of BIMCO’s bilateral term sheet in 2017, SHIPTERM, it was agreed to develop a complementary form for syndicated loan transactions. The Documentary Committee approved this syndicated edition, named SHIPTERM S, in May 2018. BIMCO is grateful to the following subcommitte... Please follow the link to continue reading.

Explanatory notes

Background Nature of the term sheet Preamble Part I Clause 1 (Facility) Clause 2 (Purpose) Clause 3 (Drawdown) Clause 4 (Repayment) Clause 5 (Cancellation and Prepayment) Clause 6 (Interest) Clause 7 (Fees) Clause 8 (Finance Documents) Clause 9 (... Please follow the link to continue reading.

Stakeholder input pushes term sheet toward completion

SHIPTERM B for syndicated loans, will soon join BIMCO’s bilateral ship finance term sheet as part of the organisations’ venture into standard ship financing documents.

Join BIMCO’s New York seminar on the new ship financing term sheet

We are pleased to invite you to join us in New York on 28 September for a seminar hosted jointly by BIMCO and Blank Rome LLP on BIMCO’s new standard term sheet for bilateral ship financing transactions, SHIPTERM.

Good progress on syndicated term sheet for ship financing

The subcommittee set up to develop a syndicated version of SHIPTERM, BIMCO’s new standard bilateral term sheet, made good progress at its second meeting on 7-8 September in London.

Quiet Enjoyment Letter

QEL and QEL (SHORTFORM) are two standard Quiet Enjoyment Letters (QELs) for use in ship financing transactions. The two QELs are intended for bareboat and time charter parties as well as ship leasing structures and complement the suite of BIMCO term sheets for ship financing (SHIPTERM and SHIPTERM S... Please follow the link to continue reading.