The revision of any standard agreement as internationally recognised and widely used as SALEFORM 93 was not a matter lightly undertaken. The decision to revise SALEFORM 93 was based on feedback from the global ship sale and purchase sector who were asked whether an update was needed and, if so, to what extent the agreement should be revised.
The message from the feedback was very clear – while SALEFORM 93 largely met the current needs of the industry, it would certainly benefit from a modest update to reflect commonly applied amendments and rider clauses.
Over a period of 11 months the NSA/BIMCO drafting team carried out a thorough review of SALEFORM in consultation with the industry. On 10 November 2011, the Documentary Committee approved the new edition, called SALEFORM 2012.
The revision process identified the key clauses most commonly amended in SALEFORM and pinpointed areas where ambiguity in the ‘93 edition had, on occasion, led to misunderstanding and uncertainty. The new edition did bring greater clarity to the agreement as well as amended wording that reflects current commercial practices.
SALEFORM 2012 has now been used for some years, and the industry has accumulated some experience in using the contract. This 1-day seminar will look at key elements of SALEFORM 2012.
The fee includes coffee breaks, lunch and course materials, but not transport or accommodation, which should be arranged by the participant directly with the hotel.
Recommended hotel near the UK Chamber of Shipping is London Bridge Hotel (8 - 18 London Bridge Street). Email or call to make your reservation and mention"UK Chamber of Shipping" to receive a special rate.
Tel.: +44 (0)20 7855 2210/11