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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The Charterers undertake not to employ the Vessel or suffer the Vessel to be employed otherwise than in conformity with the terms of the contracts of insurance including any warranties expressed or implied therein without first obtaining the consent of the insurers to such employment and complying with such requirements as extra premium or otherwise as the insurers may prescribe.
The Charterers shall ensure that all spare parts listed in the inventory and used during the Charter Period are replaced at their expense prior to redelivery of the Vessel. If the Vessel chartered under this Charter is registered in a Bareboat Charter Registry as stated in Box 44, and if the Owners shall default in the payment of any amounts due under the mortgage s specified in Box 28, the Charterers shall, if so required by the mortgagee, direct the Owners to re-register the Vessel in the Underlying Registry as shown in Box Sub-clause 30 d shall apply in all cases.
Unless the Vessel is acquired by the Charterers in accordance with Clause 35, the Charterers and the Owners, respectively, shall at the time of delivery and redelivery and where Charterers have not exercised their option to purchase the Vessel in accordance with this Charter take over and pay for all bunkers, lubricating oil, unbroached provisions, paints, ropes and other consumable stores excluding spare parts in the said Vessel at the then current market prices at the ports of delivery and redelivery, respectively.
In that case, the EBO Price shall be reduced by the amount of such debt plus all accrued and unpaid interest so assumed.
Rules of Interpretation Insurance hull and machinery and war risks state value acc. As will be seen, in the event that the vessel has been directed back to the Underlying Registry, the charterers, according to the second paragraph of this clause, have been vested with a right to terminate the Charter without prejudice to any other claim they may have against the owners under this Charter. However, it should be noted that a requirement to transfer the ownership of the vessel when registering under a bareboat charter register is by no means a common practice in the principal ship registries such as Panama and Liberia.
Barecon Standard Bareboat Charter Part I by Horizon Lines
The following Explanatory Notes are designed to provide some background information on the clauses of the various parts of the Charter and a general overview of the amendments made in this revision. Table of Contents 1. It should be noted that sub-clause 10 a ii excludes the charterers’ loss of time arising from the implementation of new equipment from the sum calculated based on the agreed percentage of the vessel’s marine insurance value.
Additional insurance cover, if any, for Charterers’ account limited to Cl.
The delivery date and time for the purpose of this Charter shall be deemed to be the same date and time as when the Vessel is delivered from the Sellers to the Owners under the MOA.
If the Charterers do not then exercise their option of cancelling, the seventh day after the readiness date stated in the date indicated in Box brecon for the purpose of this Clause 5. In this Charter, the following terms shall have the meanings hereby assigned to them: Any moneys in excess of USDOn or before redelivery of the Bsrecon the Charterer will, at its own cost and expense, remove any stack insignia or stack colors of the Charterer or any other Person and make all corrections and repairs necessary to cause the Vessel to comply with all of the terms of Clause 15 hereof.
For instance, barcon countries require the Master and chief officer to be nationals of the flag State and possess certificates from their own country.
If no rate is indicated in Box 33, the commission to be paid by the Owners shall cover the actual expenses of the Brokers and a reasonable fee for their work. In the event that the Charterer shall enter into a management agreement with any Person who is not an Affiliate of the Charterer or the Owner providing for the technical 0201 commercial management of the Vessel, such management agreement shall be in form and substance satisfactory to the Agent.
If the Vessel becomes a Total Loss or becomes subject to Compulsory Acquisition the chartering of the Vessel to the Charterers hereunder shall cease and the Charterers shall: The Vessel chartered under this Charter is financed by a mortgage and the provisions of Clause 12 b Part II shall apply.
The Vessel upon redelivery shall have her survey cycles up to date and trading and class certificates valid for at least the number of months agreed in Box Pending physical repossession of the Vessel in accordance with this Clause 29, the Charterers shall hold the Vessel as gratuitous bailee only to the Owners. The contracting parties can opt for alternative a in a straightforward situation where no mortgage has been effected on the vessel or alternative b in cases where the chartered vessel is financed by a mortgage.
This matter is dealt with in sub-clause a and sub-clause d. Rider Clauses 32 to The Charterers to be secured reimbursement through presentation of accounts. Assignment, Sub-Charter and Sale The “anti-technicality” clause provides a grace period of the number of days as agreed by the parties in the event that the failure to make a punctual payment can be attributed to “oversight, negligence, errors or omissions on the part of the charterers or their bankers”.
It should be noted that, for the sake of conciseness, sub-clause c from BARECON 89, which obliged the owners to seek the consent of the charterers before effecting any other mortgage on the vessel, has been merged into sub-clauses a and b of BARECON It therefore follows that on expiration of the Charter, the sellers original owners shall deliver and the buyers the bareboat charterers shall take over the vessel “as she is” at the time of delivery.
The Charterer shall, at its sole cost, be entitled to make and retain copies of such logs, drawings, plans, certificates and other technical documentation.
The clause distinguishes between termination by default on the part of the charterers, a default on the part of the owners, and extraordinary termination. The Owners to have a lien upon all cargoes, sub-hires and sub-freights belonging or due to the Charterers or any sub-charterers and any Bill of Lading freight for all claims under this Charter, and the Charterers to have a lien on the Vessel for all moneys paid in advance and not earned.
This Charter and all further rights and obligations of the parties hereunder shall terminate upon the Vessel being delivered to the buyer under the Redelivery MOA as evidenced by a signed and timed protocol of delivery and acceptance.
Any such written consent to any one transfer or change of flag or port of documentation shall not be construed to be a waiver of this provision with respect to any subsequent proposed transfer or change of flag or port baredon documentation.