BARECON 2001 PDF

Fill Barecon , download blank or editable online. Sign, fax and printable from PC, iPad, tablet or mobile with PDFfiller ✓ Instantly ✓ No software. Try Now!. BIMCO has recently published its new BARECON following a review of its predecessor, BARECON This revision represents a significant update to. Barecon Standard Bareboat Charter Part I filed by Horizon Lines on June 2nd,

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The Owners are entitled to inspect copies of the Vessel’s logs and records subject to a prior written notice from the Owners at any reasonable time. The title of this clause has been changed from “Trading Limits” to “Trading Restrictions” as it was felt that the original BARECON 89 title did not reflect the true scope of the clause as it covered matters other than geographical restrictions. Any amendment of any provision of this Charter shall only be effective if the Owners and the Charterers so agree in writing.

The Charterer shall from time to time during the Charter Period replace such items of equipment as shall be so damaged or worn as to be unfit for use or that shall have been lost or barecoon. For the purpose of this sub-clause, the Vessel shall not be deemed to be lost unless she has either become an actual 20011 loss or agreement has been reached with her underwriters in respect of her constructive, compromised or arranged total loss or if such agreement with her underwriters is not reached it is adjudged by a competent tribunal that a constructive loss of the Vessel has occurred.

No waiver by either party of any of the terms and conditions of this Charter shall be binding unless it is made in writing and delivered to the other party. Clause 6 Trading Restrictions The title of this clause has been changed from “Trading Limits” to “Trading Restrictions” as it was felt that the original BARECON 89 title did not reflect the true scope of the clause as it covered matters other than geographical restrictions. This is the usual clause granting the owners and the charterers a lien for their respective claims against each other.

The Charterers warrant that they will not permit the Vessel to commence a voyage including any preceding batecon voyage which cannot reasonably be expected to be completed in time to allow redelivery of the Vessel within the Charter Period.

Barecon Standard Bareboat Charter Part I by Horizon Lines

Any barecln of this Charter which may be determined by competent authority to be prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

This provision has been inserted in an attempt to make it clear that any default by the charterers in the payment of hire beyond the grace period would entitle the owners to baeecon damages for costs and losses incurred as a consequence of delays in the payment of hire, and, if the owners were to withdraw from the Charter, for the consequence of its determination.

The Charterer acknowledges and agrees that its Lien on the Vessel is at all times subject and subordinate to the Lien of the Mortgage.

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The costs and fees for such inspection or survey shall be paid by the Charterers.

BARECON 2001

Except as otherwise provided for in this Charter, all notices or other communications under or in respect of this Charter barscon either party hereto shall be in writing and shall be made or given to such party at the address, or e-mail address appearing below or at such other address, or e-mail address as such party may hereafter specify for such purposes to the other by notice in writing: Frequency of dry-docking Cl.

On expiration of this Charter and provided the Charterers have fulfilled their obligations according to Part I and II as well as Part III, if applicable, it is agreed, that on payment of the final payment of hire as per Clause 11 the Charterers have purchased the Vessel with everything belonging to her and the Vessel is fully paid for.

Chapter 3 of the Marshall Islands Maritime Act of as amended. Should bareconn charterers fail to redeliver the vessel within the charter period, a mechanism is provided to compensate the owners for the period following the expiration of the Charter until the vessel is redelivered.

If the Charterers select the Option to purchase the Vessel, the price shall be as per the Purchase Option Price in Clause 35 after the end of year five 5the price from the Delivery Date until the end of year five 5 shall be barecn agreed by both parties which shall be calculated based on the Purchase Option Price.

Changes to the Vessel F. Date of last special survey by the Vessel’s classification society. Employment and Use The Charterer covenants and agrees that, provided that carriage of lawful cargo based on U. Either the Owners or, with the prior written consent of the Owners such consent not to be unreasonably withheldthe Charterers shall be entitled to give notice claiming a constructive total lose but prior to the giving of such notice there shall be consultation between the Charterers and the Owners and the party proposing to give such notice shall be supplied with all such information as such party may request; and.

A Bank Guarantee Clause has been incorporated, the text of which also appeared in BARECON 89, for use in circumstances where the charterers do not have substantial assets and the owners require some form of financial guarantee for the Charter. Vice President, Finance Facsimile: According to this concept, a third party cannot rely on provisions in a contract to which he is not a party.

This Charter including all negotiations, fixtures and written correspondence shall remain strictly confidential between the Owners, the Charterers, the Mortgagee and other relevant parties such as insurance companies in respect of the Vessel. It is acknowledged and agreed that, following the satisfaction of the conditions precedent set forth in Article V of the Agreement to Acquire and Charter, acceptance narecon the Vessel by SFL Holdings from the Seller, and the concurrent transfer of all baredon, title and.

It is important to note that bareconn some jurisdictions, such as the United States, the Non-Lien Clause might not be valid because the suppliers will not be aware of specific provisions in the bareboat charter. The certificate of documentation shall remain on board the Vessel at all times and shall be made available to the Owner or Persons designated by the Owner for review and inspection.

The Master, officers and crew of the Vessel shall be the servants of the Charterers for all purposes whatsoever.

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Unlike commissioned vessels, there is no point in discussing or determining the condition of a new-building vessel at the time of delivery from the yard or to arrange a time consuming on-survey for that purpose. Each of the Charterer and the Owner will cause to be done, executed, acknowledged and delivered all such further acts, conveyances, documents, instruments and assurances as the other shall reasonably require i for accomplishing the purposes of this Charter and the other Transaction Documents, and ii in order to carry out the intent and purpose of this Charter and to establish and protect the rights and remedies created or intended to be created hereunder in favor of the Owner and the Charterer.

The Charterer undertakes to furnish, before delivery of the Vessel, a guarantee of Horizon Lines, Inc. The delivery date and time for the purpose of this Charter shall be deemed to be the same date and time as when the Vessel is delivered from the Sellers to the Owners under the MOA. It is an optional clause that only applies if the relevant box in Part I is filled in. Flag and Name of Vessel a During the Charter Period, the Charterer shall have the liberty, at its own cost and expense, to paint the Vessel in its own colors, install and display its funnel insignia and fly its own house flag.

Insurance against liability under law or international convention arising out of pollution, spillage or leakage in an amount not less than the maximum amount available, as that amount may from time to time change, from the IGA Clubs or alternatively such baeecon of pollution, spillage or leakage coverage as are commercially available in any absence of such coverage by the IGA Clubs as shall be carried by prudent shipowners for similar vessels engaged in similar trades plus amounts available from customary excess insurers of such risks as excess amounts, if any, as shall be carried by prudent shipowners for similar vessels engaged in similar trades, in each case to bareon extent commercially available and carried by other responsible and experienced companies engaged in the operation of vessels similar to the Vessel.

Lien of the Mortgage The Charterers warrant that they will not permit the Vessel to commence a voyage including any preceding ballast voyage which cannot reasonably be expected to be completed in time to allow redelivery of the Vessel within the Charter Period.

It should be noted that sub-clause 10 a ii excludes the charterers’ loss of time arising from the implementation of new equipment from the sum calculated based on the agreed percentage of the vessel’s marine insurance value. Next, to the Owner in an amount up to the equity portion of the Stipulated Loss Value of the Vessel as of the Payment Date first occurring after the event of Total Loss as set forth in Schedule 3 to this Charter; and. Any and all reasonable and documented legal fees for documentations relating to MOA and the Charter including any addenda, schedule or appendix whatsoever thereto shall be paid by barscon Charterer promptly against the invoice, throughout the Charter Period.