BARGEHIRE 2008 PDF

Bargehire Terms: means the Bargehire Standard Barge Charter Party terms and Towcon Terms: means the Towcon International Ocean Towage. Page CHAPTER 6 Standard form contracts: (iv) the bimco “bargehire ” form Part A. The genesis of the “Bargehire” form The publication by BIMCO. The BIMCO BARGEHIRE 94 Standard Barge Bareboat Charter Party, as reproduced at the end of this article, is the final result of the work of the sub- committee.

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The Charterers shall therefore notify the Owners of the exact delivery date 45 days prior to 15 April, In order to minimise the risk of disputes it has been clearly stressed in which condition the Charterers must redeliver bargehkre barge.

Notwithstanding the observations made under sub-clause 16 iit has been felt useful to also cover the possibility, which may arise from time to time, in particular regarding long-term barge bareboat charter parties, that the 0208 are responsible for arranging and paying insurance against marine, yar, and protection and indemnity risks. It is intended, and hence provided, that such a substitution shall have bargehir effect on the terms and conditions under the charter, inasmuch as any additional costs associated with preparation of the substituting barge shall be for the Owners’ account.

Some of the boxes to be completed in Part I may call for special observations; however, in view of the fact that the details to be written into the boxes should be considered in light of the provisions in the corresponding clauses in Part II, it has been considered appropriate to make these observations together with the comments on the standard clauses in Part II.

Consequently, the Charterers, when negotiating the terms of the charter, should have sufficient options to avoid late redelivery which may burden the Owners heavily, in particular if the next fixture follows immediately after.

Bargehire Standard Barge Charter Party with Explanatory Notes – Google Books

All items to be agreed for the particular charter and to be filled in by typewriter have been arranged in boxes in Part I. Standard Statement of Facts. This will also enable the Owners to reconsider the financial implications of the substitution.

A breach of the obligation to maintain and repair the barge may entitle the Owners to withdraw the barge if the Charterers fail to effect repairs, etc. Priority news Press release News story Contract. It is important that the date of the last special survey is indicated in Box The Charterers may not always possess sufficient expertise and experience to conduct the operations mentioned and, above all, the ballast engineer would typically be familiar with that particular barge.

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Therefore, and contrary to what is normally found in BIMCO standard documents, this Clause limits the Owners’ liability in the event they do not deliver the barge as agreed. Even though it is the Charterers who take out the insurance if Clause 16 ii applies, there may be situations where the Owners have a legitimate interest in being informed about the employment of the barge.

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If, in the next line of bargehife notification schedule, “90 days” and “15 days” have been specified, the Charterers shall, 90 days prior to 1 April,narrow down the delivery period to 15 days, for instance 15 April to 30 April, If so, the Charterers at the request of the Owners shall apply to their insurers to include hargehire Owners’ nominated principals as co-assured. Moreover, an attempt has been made to make it clear that any default by the Charterers in the payment of hire beyond the grace period shall amount to repudiation of the Charter Party which shall entitle the Owners to withdraw the barge and to claim damages for costs and losses incurred as a consequence of such default.

Throughout the drafting work it was encouraging to receive a large number of proposals for improvements and amendments from trade baryehire and legal experts, and every suggestion and recommendation received has been carefully considered and, whenever possible, taken into bargebire in the finalisation of the document. Hence sub-clause 16 i f. Please either try again later, or use the contact form to let us know.

Hence, it has been stipulated 4 in sub-clause a that the Charterers shall keep the Owners advised of the intended employment of the barge. It is, of course, important to determine and agree in the contract the value of the vessel for the purpose of insurance coverage and such sum as may be agreed between the parties should be stated in Box 30 according to sub-clause 16 i j.

Standard Escrow Agreement for Disputes. The equitable approach adopted provides that if the changes which have become necessary, cost more than 5 per cent of the barge’s marine insurance value the charter shall become renegotiated. This Clause also provides for the condition in which the barge shall be delivered and, finally, that the delivery to the Charterers shall constitute a full performance by the Owners of their obligations under this Clause. Any additional premium which may result from the barge’s trading pattern shall be for the Charterers’ account.

Moreover, some jurisdictions may hold the Owners liable if the buyers fail to perform the obligations which have been transferred to them by the Owners in an attempt to avoid becoming in repudiatory breach of contract. Accordingly, sub-clause 7 a provides that late delivery shall entitle the Charterers to a daily compensation Box 19 or a maximum lump sum amount Box 20as agreed, whichever is the lesser, whereas sub-clause 7 b provides that in the event of non-delivery of the barge and the charter is cancelled, the Owners shall pay compensation to the Charterers as agreed in Box It should be stressed that sub-clause 16 ii is optional and is only to apply if expressly agreed and stated in Box 29, in the event of which sub-clause l6 i shall be considered deleted.

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However, it appears to be common practice in the barge industry to contractually limit the Owners’ liability towards the Charterers in the event of non-fulfilment of their obligations to deliver the barge resulting in claims made against the Charterers by third parties. Stay up to date? Agency Appointment Agreement 1.

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Regarding sub-clause 16 i kit has been considered reasonable that when this applies, the Owners shall also keep the barge with unexpired classification in force during the entire charter period reference is made to the comments made under Clause 13 sub-clause a. Clause 23 – Lien This is the usual lien clause granting the Owners and the Charterers a lien for their respective claims against each other.

The last paragraph provides an obligation for the Charterers to inform the Owners of incidents occurring to the barge. Clause 7 – Cancelling Non-delivery of a barge by the Owners, or even a small delay, may have serious consequences for the Charterers, not least when they are engaged in large construction projects in the offshore industry.

These points are covered in sub-clauses 15 a and 15 b whereas subclause 15 c sets out how fractional hire should be calculated if the first and last month’s hire is less than a full month. Latest market analysis For all the latest market analysis on global shipping including macro economics, tanker, container and dry bulk.

However, for the sake of clarification it has been felt useful to provide for the responsibilities of the Charterers in the above instances, hence this Clause.

Standard Escrow Agreement for Disputes 1. Reference is made to the observations made under Clause 5 Substitution. Contact Singapore Office on: