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Explanatory notes

Background  Part I Part II Section 1 – Basis of the Agreement Clause 1 (Definitions) Clause 2 (Commencement and Appointment) Clause 3 (Authority of the Supervisors) Section 2 – Scope of Services Clause 4 (Specification Review) ... Please follow the link to continue reading.

Explanatory notes

Introduction In response to the need for up to date provisions covering long-term representation by agents, BIMCO and FONASBA have developed a new General Agency Agreement.  BIMCO would like to thank the following Subcommittee members for their efforts in developing this contract: Mr Han van Bl... Please follow the link to continue reading.

Background

Following the successful launch of BIMCO’s bilateral term sheet in 2017, SHIPTERM, it was agreed to develop a complementary form for syndicated loan transactions. The Documentary Committee approved this syndicated edition, named SHIPTERM S, in May 2018. BIMCO is grateful to the following subcommitte... Please follow the link to continue reading.

Explanatory notes

Background Nature of the term sheet Preamble Part I Clause 1 (Facility) Clause 2 (Purpose) Clause 3 (Drawdown) Clause 4 (Repayment) Clause 5 (Cancellation and Prepayment) Clause 6 (Interest) Clause 7 (Fees) Clause 8 (Finance Documents) Clause 9 (... Please follow the link to continue reading.

Explanatory notes

Background Box Layout Definitions Clause 1 Clause 2 Clause 3 Clause 4 Clause 5 Clause 6 Clause 7 Clause 8 Clause 9 Clause 10 Clause 11 Clause 12 Clause 13 Clause 14 Clause 15 Clause 16 Clause 17 Clause... Please follow the link to continue reading.

Explanatory notes

 The following Explanatory Notes are designed to provide some background information on the clauses of the various parts of the contract. Part I  Box 1 - Place and Date  Box 2 - Owners (Full style and address) Box 3 - Contractors (Full style and address) Box 4 - Vessel’s... Please follow the link to continue reading.