The seminar examines the differences between the 2005 and 2017 versions of the SUPPLYTIME contract, used in offshore. Also practical and legal differences when using SUPPLYTIME for other purposes will be examined
The “Using SUPPLYTIME” seminar has been conducted worldwide by BIMCO since 2009, and is intended as a guide to issues arising in time chartering vessels for work in the offshore industry. The speakers are all experts in this very specific area. They will be dealing with questions which are important in carrying out operations, as well as with those which matter for claims/insurance. Although the course will be based on BIMCO’s SUPPLYTIME form, the speakers are all independent of BIMCO and the course is also intended to discuss the use of other forms in the marketplace and some possible amendments and/or rider clauses to the SUPPLYTIME form. The course will include two interactive workshops and case studies on SUPPLYTIME.
At the seminar, BIMCO will also provide an update on the revision of SUPPLYTIME 2005. The aim of the subcommittee has been to update and clarify the provisions of the contract, but at the same time retain its familiarity for its many users. Focus has also been on strengthening the knock-for-knock liability regime by removing most of the exceptions. The revised SUPPLYTIME was adopted by the Documentary Committee in early June 2017.
This seminar will cover:
- commercial introduction to SUPPLYTIME 89, 2005 and 2017
- working with SUPPLYTIME
- hire and payment
- disputes on early termination, liens, substitute vessel, force majeure and frustration
- disputes on "Knock for knock", pollution, wreck removal and insurance
- workshop on negotiating and amending a SUPPLYTIME contract