BIMCO is developing a term sheet for ship sale and leaseback transactions, SHIPLEASE, and is seeking input from industry experts on the new standard.
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry
BIMCO is setting up a sounding board with the aim to engage a broad group of stakeholders in the process of drafting a sale and leaseback term sheet, as the sale and leaseback market continues to expand.
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing institutions and private practice lawyers from Asia, Europe and the US began work this week to develop a standard letter of quiet enjoyment (LQE) for use in long term charter and leasing str... Please follow the link to continue reading.
On 24 October, at a meeting in Shanghai, BIMCO started work to develop a new standard term sheet for ship sale and leaseback transactions.
An interview with Nick Fell, chair of BIMCO's Documentary Committee.
Sale and leaseback transactions have seen a substantial increase in recent years as an alternative method of ship financing, and BIMCO has adopted a new term sheet which will facilitate the negotiation of sale and leaseback deals and make the process cheaper for parties involved.
On 21 March, the subcommittee established to develop a standard term sheet for syndicated ship financing transactions met for the first time to consider how to approach the work ahead.
See a list of the contracts available in BIMCO's Smartcon contract editor
Over a series of meetings, the drafting committee developing the new BIMCO term sheet for ship sale and leaseback transactions has considered input received from industry experts. The term sheet is now ready to be presented to the Documentary Committee for adoption.
