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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A new sub-clause b has been added to this Clause addressing the issue of the sale of the vessel during the charter period.

BARECON 2001

Operation of the Vessel sub-clause 10 b. Port or delivery Cl. It is important to note that in some jurisdictions, such as the United States, the indemnity clause might not be valid; consequently, BIMCO recommends that users consult with their legal advisers if they are in any doubt.

This new clause provides clear provisions regarding the termination of the Charter and consolidates the termination provisions previously found in Clauses 5, 9, 10 and 12 of BARECON BARECON is being updated to reflect changes in commercial practice and legal development in the 15 years since it was published.

Each of the Charterer and the Owner shall promptly furnish to the other such information as may reasonably be required to enable the other timely to file any reports required to be filed, execute 201 such documents or to take such other action as may be required by the other under this Charter or, with respect to the Owner, as the owner of the Barevon with any Governmental Entity.

The provision has been strengthened and balanced with the anti-technicality provision by incorporating the wording found previously in Sub-clause 10 e of BARECON 89 to the effect that “time shall be of the essence” in respect to payment of hire.

Redelivery and Abrecon II. The Charterers undertake to provide such information and documents to enable the Owners to comply, with all such instructions or directions in regard to the employment, insurances, operation, repairs and maintenance of the Vessel as laid down in the Financial Instrument or as may be directed from time to time during the currency of the Charter by the mortgagee bafecon in conformity with the Financial Instrument, provided however that nothing to be done under this Clause 12 b shall require the Charterers to do more than they are required to do otherwise under this Charter.

Redelivery Continued a Upon redelivery pursuant to Clause 15 hereof, the Vessel shall be charter free and free and clear of all Liens except any Owner Liens and any mortgages granted by the Ownershall include all Improvements required to be made hereunder, except those Removable Parts removed by the Charterer to the extent permitted hereby, and shall be in class with, and bareckn the highest classification of, the Classification Society, for vessels of the same barefon, age and type as the Vessel, with no outstanding recommendations affecting class that are required to be satisfied on or prior to the redelivery date.

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Notice of Default X. The Charterer shall not acquire a Person or consolidate or baeecon with or into any other Person or sell, convey, assign, transfer, charter or otherwise dispose of substantially all of its property to any Person barecoj Any such waiver shall relate only barecoj such matter, non-compliance or breach as it expressly relates to and shall not apply to any subsequent or other matter, non-compliance or breach.

The Charterers further agree to fasten to the Vessel in a conspicuous place and to keep so fastened during the Charter Period a notice reading as follows: All provisions of this Charter shall be applicable during the Renewal Period, except that the Basic Hire payable under this Charter during each Renewal Period shall be that specified in this Clause No inspection carried out hereunder shall relieve the Charterer of its obligations under this Charter.

Optional, Clauses 12 a and 12 b are alternatives; indicate alternative agreed baeecon Box The Charterers warrant that they will not permit the Vessel to commence a voyage including any preceding ballast voyage which cannot reasonably be expected to be completed in time to allow redelivery of the Vessel within the Charter Period.

Attorney – in – fact.

During the term of the Charter, the Owner shall not apply for subsidy under the U. Cross-reference is also made to the Financial Security provisions of sub-clause 10 a iiitaking careful note of bareckn termination provisions of Clause Maintenance and Operation B.

Additional Outfit, Tools, etc 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 the Charterer shall replace such insurer or underwriter with an insurer or underwriter that meets or exceeds such rating requirement not barecpn than thirty 30 days after such required rating is no longer met.

It is not the intention of this provision that the charterers should at all times keep the vessel classed without recommendations, provided that the recommendation’s expiry date does not pass without the charterers barecin the necessary action to rectify the matter.

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Barecon Standard Bareboat Charter Part I by Horizon Lines

The latter term has been created to avoid any potential ambiguity and to assist in simplifying the text of the “Mortgage” and “Insurance and Repairs” provisions. Name of Vessel Abrecon is self-explanatory. The Owner acknowledges that such fuel, diesel oil, lubricating oil and stores as may be on board the Vessel at the time of delivery thereof to the Charterer on the Vessel Delivery Date will be the property of the Charterer. This statement has been added to emphasise that there is no “off-hire” under a bareboat charter.

On redelivery or retaking of the Vessel, the Owner shall accept, and, so long as no Default or Event of Default shall have occurred and be continuing, pay to the Charterer the last net baercon price for the fuel, diesel oil, lubricating oil and unbroached consumable stores remaining on board. The purchase option price shall be paid in Dollars and in immediately available funds.

New York, New York Place of Arbitration shall be New York Sub-clause 28 c deals with the total or constructive or compromised or arranged total loss of the vessel. In the following paragraphs the Owners are referred to as the Sellers and the Charterers as the Buyers.

Provisions Relating to Predelivery Period The Charterer shall remain authorized to document the Vessel in its name under the flag of the United States with a registry trade endorsement during the Charter Period, and shall give evidence thereof to the Mortgagee on request.

All other terms, conditions and provisions of this Charter shall continue to apply. Barceon introduced the first standard bareboat charter party into the market in The charterers’ entitlement to refuse to take delivery of the vessel has been changed to an obligation to accept delivery, subject to the provisions of sub-clause 1 d.

Changes to the 20011 F. Insurance a At no expense to the Owner, the Mortgagee, the Agent, the Lenders or the Swap Providers, the Charterer shall insure and keep the Vessel insured or cause or procure the Vessel to be insured and to be kept insured against the risks prescribed below, in addition to such other risks which the Mortgagee may reasonably request from time to time: Optional, only to apply if expressly agreed and stated bareccon Box