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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In sub-clause 23 a the charterers undertake to ensure that a Paramount Clause is incorporated in all documents issued for the carriage of goods under the Charter. The Lien Clause has been amended to extend to sub-hire in addition to cargo and sub-freight and that such matters rest with sub-charterers as well as charterers.

In such circumstances, the Owners shall indemnify the Charterers against any loss, damage or expense incurred by the Charterers including hire paid under this Charter as a direct consequence of such arrest or detention.

It should be noted that in sub-clause 12 b the reference to abrecon s of Covenant” has been changed to “Financial Instrument” consistent with the new definition introduced in Clause 1 Definitions.

No provision is made in respect of dry-docking the vessel in relation to the on-hire or off-hire surveys as this barfcon not considered normal practice in bareboat charters and should be left to the parties in each individual case to discuss and negotiate as appropriate.

BARECON 2001

Such report shall also state that, in the opinion of such insurance broker, the forms of policies or other evidence of such insurance and the amounts of insurance and other terms are x not materially less than what is reasonably necessary for the protection of the interests of the Owner and the Mortgagee and y are customary at the time for vessels of similar size, type, trade and cargo. Extension of Charter Period Upon the expiration of barecln Basic Period, or if applicable, the Renewal Period, the Charter Period shall be extended a for the duration of any Voyage in progress of the Vessel at such expiration and 20001 period necessary for the unloading of cargo related to such Voyage, and b for any period necessary to make any repairs to the Vessel as may be required in order to put the Vessel in a condition necessary to comply with Clause 15 garecon, provided that neither extension shall exceed 90 days.

Under normal circumstances, a mortgagee will have his mortgage registered in the registry of the State in which the owners of the vessel are registered, i. Maritime Security Program Subsidy. Clause 8 Inspection This provision gives the owners the right to inspect or survey the vessel throughout the charter period. If a second arbitrator is appointed in accordance with the Arbitration Act, the two arbitrators shall appoint a third barfcon. The Buyers undertake to pay for the repatriation of the Master, officers and other personnel if appointed by the Sellers to the port where the Vessel entered the Bareboat Charter as per Clause 3 Part II or to pay the equivalent cost for their journey to any other place.

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If the rating of any insurer or underwriter is or falls below the rating required by the immediately preceding sentence whether on initial placement, renewal or otherwiseunless the Mortgagee shall consent otherwise and the Mortgagee agrees promptly to respond to any written request for such consentthe Charterer shall replace such insurer or underwriter with an insurer or underwriter that meets or exceeds 2001 rating requirement not later than thirty 30 days after such required rating is no longer met.

Survey on Redelivery 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.

The Vessel upon delivery shall have her survey cycles up to date and trading and class certificates valid for at least the number of months agreed in Box As will be seen, in the event that the vessel has been directed back to the Underlying Registry, the charterers, according to the second paragraph of this clause, have been vested with a right to terminate the Charter without prejudice to any other claim they may have against the owners under this Charter.

The Vessel shall be deemed to be repossessed by the. Redelivery At the expiration of the Charter Period, unless the Charterer shall have exercised its option to purchase the Vessel pursuant to Clause 74or upon a termination of this Charter pursuant to Clause 59the Charterer shall at its own cost and expense, redeliver the Vessel to the Owner at a safe and ice-free port or place as indicated in Box 16 safely afloat in such ready safe berth or anchorage as the Charterer may direct.

While the Vessel is idle or laid up, at the option of the Charterer and in lieu of the coverage described in the immediately preceding sentence, port risk hull and machinery insurance may be taken out on the Vessel by the Charterer. Upon receipt by the Owner of all amounts above described as payable, this Charter shall terminate and the obligations of the Charterer to pay Basic Hire on each Payment Date occurring on and after the applicable EBO Date shall terminate.

In the event of any re-registration of the Vessel under the Applicable Law of a country other than the United States, the particular provisions hereof that apply only to a U. The Charterers undertake with the Owners that throughout the Charter Period: The Owners shall arrange for an authorised representative to board the Vessel as soon as reasonably practicable following the termination of the Charter. A new final sentence requires the charterers to replace, at their expense, any spare parts listed in the inventory and used during the charter period, prior to redelivery.

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Notification of Proceedings II.

Defects appearing later do not give rise to any claim against the owners. For the purpose of this sub-clause, the Vessel shall not be deemed to be lost unless she has either become an actual total 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.

It barfcon be noted that the provision states that the vessel is not deemed lost until she become an actual total loss or an agreement has been reached in respect of her loss with her underwriters.

Guarantee Works This is self-explanatory. The Charterers agree that the Owners shall be assured as the co-assured in such insurances. If in connection with the exercise of its purchase option hereunder, the Charterer elects to 201 the debt secured by the Mortgage on the Vessel pursuant to the Debt Assumption 20001, then the amount of such debt plus all accrued and unpaid interest so assumed shall be applied as a credit against the EBO Price.

This has been done to take account of waybills and electronic bills of lading as well as conventional bills of lading. Each of Hanadahiro Co. Maintenance and Operation a I Maintenance and Repairs – During the Charter Period the Vessel shall be in the full possession and at the absolute disposal for all purposes of the Charterers and under their complete control in every respect.

The obligation to effect repairs within a reasonable time is provided for, in any event, by the phrase “in accordance with good commercial maintenance practice” found in sub-clause barrcon a i.

Bimco Standard Bareboat Charter Code Name : “Barecon ” by Scorpio

Optional, only to apply if Box 27 filled in The Charterers undertake to furnish, before delivery of the Vessel, at first class bank guarantee or baecon in sum and the place as indicated in Box 27 as guarantee for full performance of their obligations under this Charter. Recognising that this Charter may in many instances be subject to common law jurisdictions and recognising that the contractual parties parties to the BARECON Charter are the owners and the charterers exclusively, it was decided not to provide the mortgagee with a right to direct the owners to re-register the vessel in the Underlying Registry in a default situation as such a provision may be held invalid.

It should be noted that the Cancelling Clause has been spilt into three sub-clauses bwrecon order to emphasise that the interpellation provisions of Sub-clause 5 b can be invoked multiple times. Sub-clause baeecon b is the reciprocal default termination provision for a default by the owners.