BIMCO launches ship sale and purchase agreement
Overview
BIMCO has produced its own ship sale and purchase agreement - SHIPSALE 22 – with the aim of making the authoring, negotiation and execution process faster and simpler, and to provide the market with a modern and comprehensive alternative to existing sale and purchase forms.
The agreement consists of four parts of which the first section summarises key information such as the details of the ship, inspection, and the purchase price. The second section contains the terms and conditions of the agreement in an easy-to-follow structure and the third deals with documents to be provided plus the protocol of delivery and acceptance. The fourth section is where any items that are excluded from the sale should be listed.
“With SHIPSALE 22, the team has focused on drafting an agreement that is clearly written and will need far fewer amendments and additional clauses compared to other standard sale forms. This will make the negotiation process faster and simpler and ultimately saves users time and money,” says Francis Sarre of CMB who headed the project team.
Despite being a new and more modern agreement, it retains the necessary familiarity for users transitioning from other forms used for buying and selling ships.
Where can I find SHIPSALE 22?
SHIPSALE 22 is now available to download as a “sample” PDF together with guidance notes
Editable copies are available via BIMCO’s contract editing system, SmartCon Online
Feedback or a question about this information?
Posted:
25 April 2022
VPS Bunker Alerts
Veritas Petroleum Services (VPS) publish regular Bunker Alerts based entirely on fuel samples and have kindly permitted BIMCO’s Members to access this information.
The Bunker Alerts are not intended to be an evaluation of overall bunker quality in the port or area concerned, but usually highlight a specific parameter within the fuel which has raised a quality issue.
Latest ice reports for members
Latest piracy reports
Latest industry releasable threats
Related publication
Check Before Fixing
This publication builds upon decades of BIMCO’s experience as the world leader in developing standard shipping contracts and clauses and its daily practic...
Related training
Commodity Trading & Chartering Masterclass Online
- Online, Online
- 03 February, 2025
Commodity Trading & Chartering Masterclass Online is a series of 10 online sessions delivered over 5 days. Each day will run for 2x75 minutes with a short break...
ELSEWHERE ON BIMCO
Contracts & Clauses
All of BIMCO's most widely used contracts and clauses as well as advice on managing charters and business partners.
Learn about your cargo
For general guidance and information on cargo-related queries.
BIMCO Publications
Want to buy or download a BIMCO publication? Use the link to get access to the ballast water management guide, the ship master’s security manual and many other publications.
About a new business partner
We can help members check new business partners. We also help to recover millions of USD (undisputed) funds every year.
