BARECON 2017 v2

1.
Place and date
2. Owners (Cl. 1) 3. Charterers (Cl. 1)

(i) Name: (i) Name:
(ii) Place of registered office: (ii) Place of registered office:
(iii) Law of registry: (iii) Law of registry:
4. Vessel (Cl. 1 and 3) (v) GT/NT: /

(i) Name: (vi) Summer DWT:
(ii) IMO number: (vii) When/where built: /
(iii) Flag State: (viii) Classification Society:
(iv) Type:
5. Date of last special survey by the Vessel’s 6. Validity of class certificates (state number of months to
Classification Society apply)
(i) Delivery (Cl. 3):
(ii) Redelivery (Cl. 10):
7. Latent Defects (state number of months to apply) 8. Port or place of delivery (Cl. 3)
(Cl. 1, 3)
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9. Delivery notices (Cl. 4) 10. Time for delivery (Cl. 4)

days’ approximate notices and days’
definite notices
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11. Cancelling date (Cl. 4, 5) 12. Port or place of redelivery (Cl. 10)
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13. Redelivery notices (Cl. 10) 14. Trading limits (Cl. 11)
days’ approximate notices and definite
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notices
15. Bunker fuels, unused oils and greases (optional, 16. Charter period (Cl. 2)
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state if (a) (actual net price), or (b) (current net

market price) to apply) (Cl. 9)
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17. Charter hire (state currency and amount) (Cl. 2, 10 18. Optional period and notice (Cl. 2)
and 15) (i) State extension period in months:
(i) Charter hire: (ii) State when declarable:
(ii) Charter hire for optional period:
19. Rate of interest payable (Cl. 15(g)) 20. Owners’ bank details (state beneficiary and bank
account) (Cl. 15)
21. New class and other regulatory requirements (Cl. 13(b))

(i) State if 13(b)(i) or (ii) to apply:
(ii) Threshold amount (AMT):
(iii) Vessel’s expected remaining life in years on the date of delivery:
22. Mortgage(s), if any (state if 16(a) or (b) to apply; if 16(b) applies state date of Financial Instrument and name of
Mortgagee(s)/Place of business) (Cl. 1, 16)
23. Insured Total Loss value (Cl. 17) 24. Insuring party (state if Cl. 17(b) (Charterers to insure)
or Cl. 17(c) (Owners to insure) to apply)
Copyright © 2017 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of this BIMCO SmartCon
document will constitute an infringement of BIMCO’s copyright. Explanatory notes are available from BIMCO at www.bimco.org. First published in
1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001 and 2017.
25. Performance guarantee (state amount and entity) (Cl. 27) (optional)
26. Dispute Resolution (state 33(a), 33(b), 33(c) or 33(d); if 33(c) is agreed, state Singapore or English law; if 33(d) is
agreed, state governing law and place of arbitration) (Cl. 33)
27. Newbuilding Vessel (indicate with “yes” or “no” whether PART III applies and if “yes”, complete details below)
(optional)
(i) Name of Builders:

(ii) Hull number:
(iii) Date of newbuilding contract:
(iv) Liquidated damages for physical defects or deficiencies (state party):
(v) Liquidated damages for delay in delivery (state party):
28. Purchase Option (indicate with “yes” or “no” 29. Bareboat Charter Registry (indicate with “yes” or “no”
whether PART IV applies) (optional) whether PART V applies and if “yes”, complete details
below) (optional)
(i) Underlying Registry:
(ii) Bareboat Charter Registry:
30. Notices to Owners (state full style details for 31. Notices to Charterers (state full style details for serving
serving notices) (Cl. 34) notices) (Cl. 34)
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It is mutually agreed that this Charter Party shall be performed subject to the conditions contained in this Charter Party
which shall include PART I and PART II. In the event of a conflict of conditions, the provisions of PART I shall prevail over
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those of PART II to the extent of such conflict but no further. It is further mutually agreed that PART III and/or PART IV
and/or PART V shall only apply and only form part of this Charter Party if expressly agreed and stated in Box 27, 28 and
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29. If PART III and/or PART IV and/or PART V applies, it is further agreed that in the event of a conflict of conditions, the
provisions of PART I and PART II shall prevail over those of PART III and/or PART IV and/or PART V to the extent of such
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conflict but no further.

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Signature (Owners) Signature (Charterers)

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Copyright © 2017 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of this BIMCO SmartCon
document will constitute an infringement of BIMCO’s copyright. Explanatory notes are available from BIMCO at www.bimco.org. First published in
1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001 and 2017.
PART II
BARECON 2017 Standard Bareboat Charter Party
1. Definitions
In this Charter Party:
“Banking Day” means a day on which banks are open in the places stated in Boxes 2, 3, 30 and 31, and, for
payments in US dollars, in New York.
“Charterers” means the party identified in Box 3.
“Crew” means the Master, officers and ratings and any other personnel employed on board the Vessel.
“Financial Instrument” means the mortgage, deed of covenant or other such financial security instrument as
identified in Box 22.
“Flag State” means the flag state in Box 4 or such other flag state to which the Charterers may have re-
registered the Vessel with the Owners’ consent during the Charter Period.
“Latent Defect” means a defect which could not be discovered on such an examination as a reasonably careful
skilled person would make.
“Owners” means the party identified in Box 2.
“Total Loss” means an actual, constructive, compromised or agreed total loss of the Vessel under the
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insurances.
“Vessel” means the vessel described in Box 4 including its equipment, machinery, boilers, fixtures and fittings.
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2. Charter Period
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The Owners have agreed to let and the Charterers have agreed to hire the Vessel for the period stated in Box
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16 (“Charter Period”).
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The Charterers shall have the option to extend the Charter Period by the period stated in Box 18(i) at the rate
stated in Box 17(ii), which option shall be exercised by written notice to the Owners latest as stated in Box
18(ii).
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Subject to the terms and conditions herein provided, during the Charter Period the Vessel shall be in the full
possession and at the absolute disposal for all purposes of the Charterers and under their complete control in
every respect.
3. Delivery
(not applicable when Part III applies, as stated in Box 27).
(a) The Owners shall deliver the Vessel in a seaworthy condition and in every respect ready for service under this
Charter Party and in accordance with the particulars stated in Boxes 4 to 6.
If the Charterers have inspected the Vessel prior to delivery, the Vessel shall be delivered by the Owners in the
same condition as at the time of inspection, fair wear and tear excepted.
The Vessel shall be delivered by the Owners and taken over by the Charterers at the port or place stated in Box
8 at such readily accessible safe berth or mooring as the Charterers may direct.
(b) The Vessel shall be properly documented on delivery in accordance with the laws and regulations of the Flag
State and the requirements of the Classification Society stated in Box 4. The Vessel upon delivery shall have its
Copyright © 2017 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of this BIMCO SmartCon document will
constitute an infringement of BIMCO’s copyright. Explanatory notes are available from BIMCO at www.bimco.org. First published in 1974 as BARECON A and
B. Amalgamated and revised in 1989. Revised 2001 and 2017.
PART II
survey cycles up to date and class certificates valid and unextended for at least the number of months stated in
Box 6(i) free of any conditions or recommendations. If Box 6(i) is not filled in, then six (6) months shall apply.
(c) The delivery of the Vessel by the Owners and the taking over of the Vessel by the Charterers shall constitute a
full performance by the Owners of all the Owners’ obligations under this Clause, and thereafter the Charterers
shall not be entitled to make or assert any claim against the Owners on account of any conditions,
representations or warranties expressed or implied with respect to the Vessel but the Owners shall be liable for
the cost of but not the time for repairs or renewals arising out of Latent Defects in the Vessel existing at the
time of delivery under this Charter Party, provided such Latent Defects manifest themselves within the number
of months after delivery stated in Box 7. If Box 7 is not filled in, then twelve (12) months shall apply.
4. Time for Delivery
(not applicable when Part III applies, as stated in Box 27)
The Vessel shall not be delivered before the date stated in Box 10 without the Charterers’ consent and the
Owners shall exercise due diligence to deliver the Vessel not later than the date stated in Box 11.
The Owners shall keep the Charterers informed of the Vessel’s itinerary for the voyage leading up to delivery
and shall serve the Charterers with the number of days approximate/definite notices of the Vessel’s delivery
stated in Box 9. Following the tender of any such notices the Owners shall give or allow to be given to the
Vessel only such further employment orders as are reasonably expected when given to allow delivery to occur
by the date notified.
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5. Cancelling
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(not applicable when Part III applies, as stated in Box 27)

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(a) Should the Vessel not be delivered by the cancelling date stated in Box 11, the Charterers shall have the option
of cancelling this Charter Party.
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(b) If it appears that the Vessel will be delayed beyond the cancelling date, the Owners may, as soon as they are in
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a position to state with reasonable certainty the day on which the Vessel should be ready, give notice thereof
to the Charterers asking whether they will exercise their option of cancelling, and the option must then be
declared within three (3) Banking Days of the receipt by the Charterers of such notice. If the Charterers do not
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then exercise their option of cancelling, the readiness date stated in the Owners’ notice shall be substituted for
the cancelling date stated in Box 11 for the purpose of this Clause 5 (Cancelling).
(c) Cancellation under this Clause 5 (Cancelling) shall be without prejudice to any claim the Charterers may
otherwise have against the Owners under this Charter Party.
6. Familiarisation
(a) The Charterers shall have the right to place a maximum of two (2) representatives on board the Vessel at their
sole risk and expense for a reasonable period prior to the delivery of the Vessel.
The Charterers and the Charterers’ representatives shall sign the Owners’ usual letter of indemnity prior to
embarkation.
(b) The Owners shall have the right to place a maximum of two (2) representatives on board the Vessel at their
sole risk and expense for a reasonable period prior to the redelivery of the Vessel.
The Owners and the Owners’ representatives shall sign the Charterers’ usual letter of indemnity prior to
embarkation.
PART II
(c) Such representatives shall be on board for the purpose of familiarisation and in the capacity of observers only,
and they shall not interfere in any respect with the operation of the Vessel.
7. Surveys on Delivery and Redelivery
(a) The Owners and Charterers shall each appoint and pay for their respective surveyors for the purpose of
determining and agreeing in writing the condition of the Vessel at the time of delivery and redelivery
hereunder. The Owners shall bear all the Vessel’s expenses related to the on-hire survey including loss of time,
if any. The Charterers shall bear all the Vessel’s expenses related to the off-hire survey including loss of time, if
any.
(b) Divers inspection on delivery/re-delivery
The Charterers shall have the option at delivery and the Owners shall have the option at redelivery, at their
respective time, cost and expense, to arrange for an underwater inspection by a diver approved by the
Classification Society, in the presence of a Classification Society surveyor, to determine the condition of the
rudder, propeller, bottom and other underwater parts of the Vessel.
8. Inventories
A complete inventory of the Vessel’s equipment, outfit, spare parts and consumable stores on board the Vessel
shall be made by the parties on delivery and redelivery of the Vessel.
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9. Bunker fuels, oils and greases
The Charterers and the Owners, respectively, shall at the time of delivery and redelivery take over and pay for
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all bunker fuels and unused lubricating and hydraulic oils and greases in storage tanks and unopened drums at:
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(a)* The actual price paid (excluding barging expenses) as evidenced by invoices or vouchers.
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(b)* The current market price (excluding barging expenses) at the port and date of delivery/redelivery of the Vessel
or, if unavailable, at the nearest bunkering port.
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*Subclauses (a) and (b) are alternatives; state alternative agreed in Box 15. If Box 15 is not filled in, then
subclause (a) shall apply.
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10. Redelivery
At the expiration of the Charter Period the Vessel shall be redelivered by the Charterers and taken over by the
Owners at the port or place stated in Box 12 at such readily accessible safe berth or mooring as the Owners
may direct.
The Charterers shall keep the Owners informed of the Vessel’s itinerary for the voyage leading up to redelivery
and shall serve the Owners with the number of days approximate/definite notices of the Vessel’s redelivery
stated in Box 13.
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 and in accordance with the notices given. Notwithstanding the above, should the
Charterers fail to redeliver the Vessel within the Charter Period, the Charterers shall pay the daily equivalent to
the rate of hire stated in Box 17(i) applicable at the time plus ten (10) per cent or the market rate, whichever is
the higher, for the number of days by which the Charter Period is exceeded. Such payment of the enhanced
hire rate shall be without prejudice to any claims the Owners may have against the Charterers in this respect.
All other terms, conditions and provisions of this Charter Party shall continue to apply.
PART II
Subject to the provisions of Clause 13 (Maintenance and Operation), the Vessel shall be redelivered to the
Owners in the same condition and class as that in which it was delivered, fair wear and tear not affecting class
excepted.
The Vessel upon redelivery shall have her survey cycles up to date and class certificates valid and unextended
for at least the number of months agreed in Box 6(ii) free of any conditions or recommendations. If Box 6(i) is
not filled in, then six (6) months shall apply.
All plans, drawings and manuals (excluding ISM/ISPS manuals) and maintenance records shall remain on board
and accessible to the Owners upon redelivery. Any other technical documentation regarding the Vessel which
may be in the Charterers’ possession shall promptly after redelivery be forwarded to the Owners at their
expense, if they so request. The Charterers may keep the Vessel’s log books but the Owners shall have the right
to make copies of the same.
11. Trading Restrictions
The Vessel shall be employed in lawful trades for the carriage of lawful merchandise within the trading limits
stated in Box 14.
The Charterers undertake not to employ the Vessel or allow 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 to additional premium or otherwise as the insurers may require.
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The Charterers will not do or permit to be done anything which might cause any breach or infringement of the
laws and regulations of the Flag State, or of the places where the Vessel trades.
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Notwithstanding any other provisions contained in this Charter Party it is agreed that nuclear fuels or
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radioactive products or waste are specifically excluded from the cargo permitted to be loaded or carried under
this Charter Party. This exclusion does not apply to radio-isotopes used or intended to be used for any
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industrial, commercial, agricultural, medical or scientific purposes provided the Owners’ prior approval has
been obtained to loading thereof.
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12. Contracts of Carriage

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(a) The Charterers are to procure that all documents issued during the Charter Period evidencing the terms and
conditions agreed in respect of carriage of goods shall contain a paramount clause which shall incorporate the
Hague-Visby Rules unless any other legislation relating to carrier’s liability for cargo is compulsorily applicable
in the trade. The documents shall also contain the New Jason Clause and the Both-to-Blame Collision Clause.
(b) The Charterers are to procure that all passenger tickets issued during the Charter Period for the carriage of
passengers and their luggage under this Charter Party shall contain a paramount clause which shall incorporate
the Athens Convention Relating to the Carriage of Passengers and their Luggage by Sea, 1974, and any protocol
thereto, unless any other legislation relating to carrier’s liability for passengers and their luggage is
compulsorily applicable in the trade.
13. Maintenance and Operation
(a) Maintenance
The Charterers shall properly maintain the Vessel in a good state of repair, in efficient operating condition and
in accordance with good commercial maintenance practice and, at their own expense, maintain the Vessel’s
Class with the Classification Society stated in Box 4 and all necessary certificates.
(b) New Class and Other Regulatory Requirements
PART II
(i)* In the event of any structural changes or new equipment becoming necessary for the continued
operation of the Vessel by reason of new class requirements or by compulsory legislation (“Required
Modification”), all such costs shall be for the Charterers’ account.
(ii)* In the event of any structural changes or new equipment becoming necessary for the continued
operation of the Vessel by reason of a Required Modification, the costs shall be apportioned as follows:
(1) if the costs of the Required Modification are less than the amount stated in Box 21(ii), such costs
shall be for the Charterers’ account;
(2) if the costs of the Required Modification are greater than the amount stated in Box 21(ii), the
Charterers’ portion of costs shall be apportioned using the formula below; all costs other than
the Charterers’ portion shall be for the Owners’ account.
AMT = agreed amount stated in Box 21(ii)
CRM = cost of Required Modification
MEL = modification’s expected life in years
VEL = the Vessel’s expected remaining life in years stated in Box 21(iii) less the number of years between the
date of delivery and the date of the modification.
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RPY = remaining charter period in years
(i) If the Required Modification is expected to last for the remaining life of the Vessel, then:
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𝑪𝑹𝑴
Charterers’ portion of costs =
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𝑽𝑬𝑳 𝒙 𝑹𝑷𝒀
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(ii) If the Required Modification is not expected to last for the remaining life of the Vessel, then:
𝑪𝑹𝑴
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Charterers’ portion of costs = 𝑴𝑬𝑳 𝒙 𝑹𝑷𝒀
*Subclauses 13(b)(i) and 13(b)(ii) are alternatives, state alternative agreed in Box 21(i). If Box 21(i) is not filled
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in, then subclause 13(b)(i) shall apply.
(c) Financial Security
The Charterers shall maintain financial security or responsibility in respect of third party liabilities as required
by any government, including federal, state or municipal or other division or authority thereof, to enable the
Vessel, without penalty or charge, lawfully to enter, remain at, or leave any port, place, territorial or contiguous
waters of any country, state or municipality in performance of this Charter Party without any delay. This
obligation shall apply whether or not such requirements have been lawfully imposed by such government or
division or authority thereof. The Charterers shall make and maintain all arrangements by bond or otherwise as
may be necessary to satisfy such requirements at the Charterers’ sole expense and the Charterers shall
indemnify the Owners against all consequences whatsoever (including loss of time) for any failure or inability to
do so.
(d) Operation of the Vessel
The Charterers shall at their own expense crew, victual, navigate, operate, supply, fuel, maintain and repair the
Vessel during the Charter Period and they shall be responsible for all costs and expenses whatsoever relating to
their use and operation of the Vessel, including any taxes and fees. The Crew shall be the servants of the
Charterers for all purposes whatsoever, even if for any reason appointed by the Owners.
PART II
(e) Information to Owners
The Charterers shall keep the Owners advised of the intended employment, planned dry-docking and major
repairs of the Vessel, as reasonably required by the Owners.
(f) Flag and Name of Vessel
During the Charter Period, the Charterers shall have the liberty to paint the Vessel in their own colours, install
and display their funnel insignia and fly their own house flag. The Charterers shall also have the liberty, with the
Owners’ prior written consent, which shall not be unreasonably withheld, to change the flag and/or the name
of the Vessel during the Charter Period. Painting and re-painting, instalment and re-instalment, registration and
re-registration, if required by the Owners, shall be at the Charterers’ expense and time.
(g) Changes to the Vessel
Subject to subclause 13(b) (New Class and Other Regulatory Requirements), the Charterers shall make no
structural or substantial changes to the Vessel without the Owners’ prior written approval. If the Owners agree
to such changes, the Charterers shall, if the Owners so require, restore the Vessel, prior to redelivery of the
Vessel, to its former condition.
(h) Use of the Vessel’s Outfit and Equipment
The Charterers shall have the use of all outfit, equipment and spare parts on board the Vessel at the time of
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delivery, provided the same or their substantial equivalent shall be returned to the Owners on redelivery in the
same good order and condition as on delivery as per the inventory (see Clause 8 (Inventories)), ordinary wear
and tear excepted. The Charterers shall from time to time during the Charter Period replace such equipment
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that become unfit for use. The Charterers shall procure that all repairs to or replacement of any damaged,
worn or lost parts or equipment will be effected in such manner (both as regards workmanship and quality of
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materials, including spare parts) as not to diminish the value of the Vessel.
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The Charterers have the right to fit additional equipment at their expense and risk but the Charterers shall
remove such equipment at the end of the Charter Period if requested by the Owners. Any hired equipment on
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board the Vessel at the time of delivery shall be kept and maintained by the Charterers and the Charterers shall
assume the obligations and liabilities of the Owners under any lease contracts in connection therewith and
shall reimburse the Owners for all expenses incurred in connection therewith, also for any new hired
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equipment required in order to comply with any regulations.
(i) Periodical Dry-Docking
The Charterers shall dry-dock the Vessel and clean and paint her underwater parts whenever the same may be
necessary, but not less than once every sixty (60) calendar months or such other period as may be required by
the Classification Society or Flag State.
14. Inspection during the Charter Period
The Owners shall have the right at any time after giving reasonable notice to the Charterers to inspect the
Vessel or instruct a duly authorised surveyor to carry out such inspection on their behalf to ascertain its
condition and satisfy themselves that the Vessel is being properly repaired and maintained or for any other
commercial reason they consider necessary (provided it does not unduly interfere with the commercial
operation of the Vessel).
The fees for such inspections shall be paid for by the Owners. All time used in respect of inspection shall be for
the Charterers’ account and form part of the Charter Period.
PART II
The Charterers shall also permit the Owners to inspect the Vessel’s class records, log books, certificates,
maintenance and other records whenever requested and shall whenever required by the Owners furnish them
with full information regarding any casualties or other accidents or damage to the Vessel.
15. Hire
(a) The Charterers shall pay hire due to the Owners punctually in accordance with the terms of this Charter Party.
(b) The Charterers shall pay to the Owners for the hire of the Vessel a lump sum in the amount stated in Box 17(i)
which shall be payable not later than every thirty (30) running days in advance, the first lump sum being
payable on the date and hour of the Vessel’s delivery to the Charterers. Hire shall be paid continuously
throughout the Charter Period.
(c) Payment of hire shall be made to the Owners’ bank account stated in Box 20.
(d) All payments of Charter Hire and any other payments due under this Charter shall be made without any set-off
whatsoever and free and clear of any withholding or deduction for, or on account of, any present or future
income, freight, stamp or other taxes, levies, imposts, duties, fees, charges, restrictions or conditions of any
nature. If the Charterers are required by any authority in any country to make any withholding or deduction
from any such payment, the sum due from the Charterers in respect of such payment will be increased to the
extent necessary to ensure that, after the making of such withholding or deduction the Owners receive a net
sum equal to the amount which it would have received had no such deduction or withholding been required to
be made.
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(e) If the Charterers fail to make punctual payment of hire due, the Owners shall give the Charterers three (3)
Banking Days written notice to rectify the failure, and when so rectified within those three (3) Banking Days
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following the Owners’ notice, the payment shall stand as punctual.

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Failure by the Charterers to pay hire due in full within three (3) Banking Days of their receiving a notice from
Owners shall entitle the Owners, without prejudice to any other rights or claims the Owners may have against
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the Charterers, to terminate this Charter Party at any time thereafter, as long as hire remains outstanding.
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(f) If the Owners choose not to exercise any of the rights afforded to them by this Clause in respect of any
particular late payment of hire, or a series of late payments of hire, under the Charter Party, this shall not be
construed as a waiver of their right to terminate the Charter Party.
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(g) Any delay in payment of hire shall entitle the Owners to interest at the rate per annum as agreed in Box 19. If
Box 19 has not been filled in, the one month Interbank offered rate in London (LIBOR or its successor) for the
currency stated in Box 17, as quoted on the date when the hire fell due, increased by three (3) per cent, shall
apply.
(h) Payment of interest due under subclause 15(g) shall be made within seven (7) running days of the date of the
Owners’ invoice specifying the amount payable or, in the absence of an invoice, at the time of the next hire
payment date.
(i) Final payment of hire, if for a period of less than thirty (30) running days, shall be calculated proportionally
according to the number of days and hours remaining before redelivery and advance payment to be effected
accordingly.
16. Mortgage
(only to apply if Box 22 has been appropriately filled in)
(a)* The Owners warrant that they have not effected any mortgage(s) of the Vessel and that they shall not effect
any mortgage(s) without the prior consent of the Charterers, which shall not be unreasonably withheld.
PART II
(b)* The Vessel chartered under this Charter Party is financed by a mortgage according to the Financial Instrument.
The Charterers undertake to comply, and 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 Party by the mortgagee(s) in conformity with the Financial Instrument,
including the display or posting of such notices as the Mortgagees may require. The Charterers confirm that, for
this purpose, they have acquainted themselves with all relevant terms, conditions and provisions of the
Financial Instrument and agree to acknowledge this in writing in any form that may be required by the
mortgagee(s). The Owners warrant that they have not effected any mortgage(s) other than stated in Box 22
and that they shall not agree to any amendment of the mortgage(s) referred to in Box 22 or effect any other
mortgage(s) without the prior consent of the Charterers, which shall not be unreasonably withheld.
*(Optional, Subclauses 16(a) and 16(b) are alternatives; indicate alternative agreed in Box 22).
17. Insurance
(a) General
(i) The value of the Vessel for hull and machinery (including increased value) and war risks insurance is the sum
stated in Box 23, or such other sum as the parties may from time to time agree in writing. The party insuring
the Vessel shall do so on such terms and conditions and with such insurers as the other party shall approve in
writing, which approval shall not be unreasonably withheld, and shall name the other party as co-assured.
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(ii) Notwithstanding that the parties are co-assured, these insurance provisions shall neither exclude nor
discharge liability between the Owners and the Charterers under this Charter Party, but are intended to secure
payment of the loss insurance proceeds as a first resort to make good the Owners’ loss. If such payment is
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made to the Owners it shall be treated as satisfaction (but not exclusion or discharge) of the Charterers’ liability
towards the Owners. For the avoidance of doubt, such payment is no bar to a claim by the Owners and/or their
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insurers against the Charterers to seek indemnity by way of subrogation.

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(iii) Nothing herein shall prejudice any rights of recovery of the Owners or the Charterers (or their insurers)
against third parties.
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(b)* Charterers to Insure

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(i) During the Charter Period the Vessel shall be kept insured by the Charterers at their expense against hull and
machinery, war, and protection and indemnity risks (and any risks against which it is compulsory to insure for
the operation of the Vessel, including maintaining financial security in accordance with subclause 13(c)
(Financial Security)).
(ii) Such insurances shall be arranged by the Charterers to protect the interests of the Owners and the
Charterers and the mortgagee(s) (if any), and the Charterers shall be at liberty to protect under such insurances
the interests of any managers they may appoint.
(iii) The Charterers shall upon the request of the Owners, provide information and promptly execute such
documents as may be required to enable the Owners to comply with the insurance provisions of the Financial
Instrument.
(c)* Owners to Insure
(i) During the Charter Period the Vessel shall be kept insured by the Owners at their expense against hull and
machinery and war risks. The Charterers shall progress claims for recovery against any third parties for the
benefit of the Owners’ and the Charterers’ respective interests.
PART II
(ii) During the Charter Period the Vessel shall be kept insured by the Charterers at their expense against
Protection and Indemnity risks (and any risks against which it is compulsory to insure for the operation of the
Vessel, including maintaining financial security in accordance with subclause 13(c) (Financial Security)).
(iii) In the event that any act or negligence of the Charterers prejudices any of the insurances herein provided,
the Charterers shall pay to the Owners all losses and indemnify the Owners against all claims and demands
which would otherwise have been covered by such insurances.
*Subclauses 17(b) and 17(c) are alternatives, state alternative agreed in Box 24. If Box 24 is not filled in, then
subclause 17(b) (Charterers to Insure) shall apply.
18. Repairs
(a) Subject to the provisions of any Financial Instrument, and the approval of the Owners, the Charterers shall
effect all insured repairs, and undertake settlement of all miscellaneous expenses in connection with such
repairs as well as all insured charges, expenses and liabilities.
To the extent of coverage under the insurances provided for under the provisions of subclause 17(c) (Owners
to Insure), the Charterers shall be reimbursed under the Owners’ insurances for such expenditures upon
presentation of accounts.
(b) The Charterers shall remain responsible for and effect repairs and settlement of costs and expenses incurred
thereby in respect of all repairs not covered by the insurances and/or not exceeding any deductibles provided
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for in the insurances.
(c) All time used for repairs under the provisions of subclauses 18(a) and 18(b) and for repairs of Latent Defects
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according to Clause 3 (Delivery) above, including any deviation, shall be for the Charterers’ account and shall
form part of the Charter Period.
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19. Total loss

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(a) The Charterers shall be liable to the Owners by way of damages if the Vessel becomes a Total Loss. Subject to
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the provisions of any Financial Instrument, if the Vessel becomes a Total Loss, all insurance payments for such
loss shall be paid to the Owners who shall distribute the monies between the Owners and the Charterers
according to their respective interests, which shall satisfy (but not exclude or discharge) the Charterers’ liability
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to the Owners thereof. The Charterers undertake to notify the Owners and the mortgagee(s), if any, of any
occurrences in consequence of which the Vessel is likely to become a Total Loss.
(b) Notwithstanding any other clause herein, it is recognised that the Charterers have a continuing obligation to
protect and preserve the Vessel as an asset of the Owners. The Charterers shall have a continuing duty after
the termination of the Charter Party to preserve and present claims on behalf of Owners and Charterers and/or
any subrogated insurers against any third party held responsible for the Total Loss during the Charter Period
and account for any recovery achieved.
(c) The Owners or the Charterers, as the case may be, shall upon the request of the other party, promptly execute
such documents as may be required to enable the other party to abandon the Vessel to the insurers and claim
a constructive total loss.
20. Lien
The Owners shall have a lien upon all cargoes, hires and freights (including deadfreight and demurrage)
belonging or due to the Charterers or any sub-charterers, for any amounts due under this Charter Party and the
Charterers shall have a lien on the Vessel for all monies paid in advance and not earned.
21. Non-Lien
PART II
The Charterers will not suffer, nor permit to be continued, any lien or encumbrance incurred by them or their
agents, which might have priority over the title and interest of the Owners in the Vessel.
22. Indemnity
(a) The Charterers shall indemnify the Owners against any loss, damage or expense arising out of or in relation to
the operation of the Vessel by the Charterers, and against any lien of whatsoever nature arising out of an event
occurring during the Charter Period. This shall include indemnity for any loss, damage or expense arising out of
or in relation to any international convention which may impose liability upon the Owners.
(b) Without prejudice to the generality of the foregoing, the Charterers agree to indemnify the Owners against all
consequences or liabilities arising from the Master, officers or agents signing bills of lading or other documents.
(c) If the Vessel is arrested or otherwise detained for any reason whatsoever other than those covered in
subclause (d), the Charterers shall at their own expense take all reasonable steps to secure that within a
reasonable time the Vessel is released, including the provision of bail.
(d) If the Vessel is arrested or otherwise detained by reason of a claim or claims against the Owners, the Owners
shall at their own expense take all reasonable steps to secure that within a reasonable time the Vessel is
released, including the provision of bail.
In such circumstances the Owners shall indemnify the Charterers against any loss, damage or expense incurred
by the Charterers (including hire paid under this Charter Party) as a direct consequence of such arrest or
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detention.
23. Salvage
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All salvage and towage performed by the Vessel shall be for the Charterers’ benefit and the cost of repairing
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damage occasioned thereby shall be borne by the Charterers.

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24. Wreck Removal

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If the Vessel becomes a wreck, or any part of the Vessel is lost or abandoned, and is an obstruction to
navigation or poses a hazard and has to be raised, removed, destroyed, marked or lit by order of any lawful
authority having jurisdiction over the area or as a result of any applicable law, the Charterers shall be liable for
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any and all expenses in connection with the raising, removal, destruction, lighting or marking of the Vessel and
shall indemnify the Owners against any sums whatsoever, which the Owners become liable to pay as a
consequence.
25. General Average
The Owners shall not contribute to General Average.
26. Assignment, Novation, Sub-Charter and Sale
(a) The Charterers shall not assign or novate this Charter Party nor sub-charter the Vessel on a bareboat basis
except with the prior consent in writing of the Owners, which shall not be unreasonably withheld, and subject
to such terms and conditions as the Owners shall approve.
(b) The Owners shall not sell the Vessel during the currency of this Charter Party except with the prior written
consent of the Charterers, which shall not be unreasonably withheld, and subject to the buyer accepting a
novation of this Charter Party.
(c) The Owners shall be entitled to assign their rights under this Charter Party.
PART II
27. Performance Guarantee
(Optional, to apply only if Box 25 filled in)
The Charterers undertake to furnish, before delivery of the Vessel, a guarantee or bond in the amount of and
from the entity stated in Box 25 in a form acceptable to the Owners as guarantee for full performance of their
obligations under this Charter Party.
28. Anti-Corruption
(a) The parties agree that in connection with the performance of this Charter Party they shall each:
(i) comply at all times with all applicable anti-corruption legislation and have procedures in place that are, to
the best of its knowledge and belief, designed to prevent the commission of any offence under such legislation
by any member of its organisation and/or by any person providing services for it or on its behalf; and
(ii) make and keep books, records, and accounts which in reasonable detail accurately and fairly reflect the
transactions in connection with this Charter Party.
(b) If either party fails to comply with any applicable anti-corruption legislation, it shall defend and indemnify the
other party against any fine, penalty, liability, loss or damage and for any related costs (including, without
limitation, court costs and legal fees) arising from such breach.
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(c) Without prejudice to any of its other rights under this Charter Party, either party may terminate this Charter
Party without incurring any liability to the other party if:
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(i) at any time the other party or any member of its organisation has committed a breach of any applicable anti-
corruption legislation in connection with this Charter Party; and
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(ii) such breach causes the non-breaching party to be in breach of any applicable anti-corruption legislation.
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Any such right to terminate must be exercised without undue delay.

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(d) Each party represents and warrants that in connection with the negotiation of this Charter Party neither it nor
any member of its organisation has committed any breach of applicable anti-corruption legislation. Breach of
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this subclause (d) shall entitle the other party to terminate the Charter Party without incurring any liability to
the other.
29. Sanctions and Designated Entities
(a) The provisions of this clause shall apply in relation to any sanction, prohibition or restriction imposed on any
specified persons, entities or bodies including the designation of specified vessels or fleets under United
Nations Resolutions or trade or economic sanctions, laws or regulations of the European Union or the United
States of America.
(b) The Owners and the Charterers respectively warrant for themselves (and in the case of any sub-charter, the
Charterers further warrant in respect of any sub-charterers, shippers, receivers, or cargo interests) that at the
date of this fixture and throughout the duration of this Charter Party they are not subject to any of the
sanctions, prohibitions, restrictions or designation referred to in subclause (a) which prohibit or render
unlawful any performance under this Charter Party. The Owners further warrant that the Vessel is not a
designated vessel.
(c) If at any time during the performance of this Charter Party either party becomes aware that the other party is
in breach of warranty in this Clause, the party not in breach shall comply with the laws and regulations of any
Government to which that party or the Vessel is subject, and follow any orders or directions which may be
PART II
given by any body acting with powers to compel compliance, including where applicable the Owners’ Flag
State. In the absence of any such orders, directions, laws or regulations, the party not in breach may, in its
option, terminate the Charter Party forthwith in accordance with Clause 31 (Termination).
(d) If, in compliance with the provisions of this Clause, anything is done or is not done, such shall not be deemed a
deviation but shall be considered due fulfilment of this Charter Party.
(e) Notwithstanding anything in this Clause to the contrary, the Owners or the Charterers shall not be required to
do anything which constitutes a violation of the laws and regulations of any State to which either of them is
subject.
(f) The Owners or the Charterers shall be liable to indemnify the other party against any and all claims, losses,
damage, costs and fines whatsoever suffered by the other party resulting from any breach of warranty in this
Clause.
30. Requisition/Acquisition
(a) In the event of the requisition for hire of the Vessel by any governmental or other competent authority at any
time during the Charter Period, this Charter Party shall not be deemed to be frustrated or otherwise
terminated. The Charterers shall continue to pay hire according to the Charter Party until the time when the
Charter Party would have expired or terminated pursuant to any of the provisions hereof. However, if any
requisition hire or compensation is received by the Owners for the remainder of the Charter Period or the
period of the requisition, whichever is shorter, it shall be payable by the Owners to the Charterers.
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(b) In the event of the Owners being deprived of their ownership in the Vessel by any compulsory acquisition of
the Vessel or requisition for title by any governmental or other competent authority (hereinafter referred to as
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“Compulsory Acquisition”), then, irrespective of the date during the Charter Period when Compulsory
Acquisition may occur, this Charter Party shall be deemed terminated as of the date of such Compulsory
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Acquisition. In such event hire to be considered as earned and to be paid up to the date and time of such
Compulsory Acquisition. The Owners shall be entitled to any compensation received for such Compulsory
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Acquisition.
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31. Termination
(a) Charterers’ Default

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The Owners shall be entitled to terminate this Charter Party by written notice to the Charterers under the
following circumstances and to claim damages including, but not limited to, for the loss of the remainder of the
Charter Party:
(i) Non-payment of hire (see Clause 15 (Hire)).
(ii) Charterers’ failure to comply with the requirements of:
(1) Clause 11 (Trading Restrictions); or
(2) Subclause 17(b) (Charterers to Insure).
(iii) The Charterers do not rectify any failure to comply with the requirements of subclause 13(a) (Maintenance)
as soon as practically possible after the Owners have notified them to do so and in any event so that the
Vessel’s insurance cover is not prejudiced.
(b) Owners’ Default
PART II
The Charterers shall be entitled to terminate this Charter Party with immediate effect by written notice to the
Owners and to claim damages including, but not limited to, for the loss of the remainder of the Charter Party:
(i) If the Owners shall by any act or omission be in breach of their obligations under this Charter Party to the
extent that the Charterers are deprived of the use of the Vessel and such breach continues for a period of
fourteen (14) running days after written notice thereof has been given by the Charterers to the Owners; or
(ii) if the Owners fail to arrange or maintain the insurances in accordance with subclause 17(c) (Owners to
Insure).
(c) Loss of Vessel
This Charter Party shall be deemed to be terminated, without prejudice to any accrued rights or obligations, if
the Vessel becomes lost either when it has become an actual total loss or agreement has been reached with
the Vessel’s underwriters in respect of its constructive total loss or if such agreement with the Vessel’s
underwriters is not reached it is adjudged by a competent tribunal that a constructive loss of the Vessel has
occurred, or has been declared missing. The date upon which the Vessel is to be treated as declared missing
shall be ten (10) days after the Vessel was last reported or when the Vessel is recorded as missing by the
Vessel’s underwriters, whichever occurs first.
(d) Bankruptcy
Either party shall be entitled to terminate this Charter Party with immediate effect by written notice to the
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other party if that other party has a petition presented for its winding up or administration or any other action
is taken with a view to its winding up (otherwise than for the purpose of solvent reconstruction or
amalgamation), or becomes bankrupt or commits an act of bankruptcy, or makes any arrangement or
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composition for the benefit of creditors, or has a receiver or manager or administrative receiver or
administrator or liquidator appointed in respect of any of its assets, or suspends payments, or anything
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analogous to any of the foregoing under the law of any jurisdiction happens to it, or ceases or threatens to
cease to carry on business.
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(e) The termination of this Charter Party shall be without prejudice to all rights accrued due between the parties
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prior to the date of termination and to any claim that either party might have.
32. Repossession
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In the event of the early termination of this Charter Party in accordance with the applicable provisions of this
Charter Party, the Owners shall have the right to repossess the Vessel from the Charterers at its current or next
port of call, or at a port or place convenient to them without hindrance or interference by the Charterers,
courts or local authorities. Pending physical repossession of the Vessel, the Charterers shall hold the Vessel as
gratuitous bailee only to the Owners. The Owners shall arrange for an authorised representative to board the
Vessel as soon as reasonably practicable following the termination of this Charter Party. The Vessel shall be
deemed to be repossessed by the Owners from the Charterers upon the boarding of the Vessel by the Owners’
representative. All arrangements and expenses relating to the settling of wages, disembarkation and
repatriation of the Crew shall be the sole responsibility of the Charterers.
33. BIMCO Dispute Resolution Clause 2017
(a)* This Charter Party shall be governed by and construed in accordance with English law and any dispute arising
out of or in connection with this Charter Party shall be referred to arbitration in London in accordance with the
Arbitration Act 1996 or any statutory modification or re-enactment thereof save to the extent necessary to give
effect to the provisions of this Clause.
The arbitration shall be conducted in accordance with the London Maritime Arbitrators Association (LMAA)
Terms current at the time when the arbitration proceedings are commenced.
PART II
The reference shall be to three arbitrators. A party wishing to refer a dispute to arbitration shall appoint its
arbitrator and send notice of such appointment in writing to the other party requiring the other party to
appoint its own arbitrator within fourteen (14) calendar days of that notice and stating that it will appoint its
arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives notice that it has done
so within the fourteen (14) days specified. If the other party does not appoint its own arbitrator and give notice
that it has done so within the fourteen (14) days specified, the party referring a dispute to arbitration may,
without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator
and shall advise the other party accordingly. The award of the sole arbitrator shall be binding on both parties as
if he had been appointed by agreement.
Nothing herein shall prevent the parties agreeing in writing to vary these provisions to provide for the
appointment of a sole arbitrator.
In cases where neither the claim nor any counterclaim exceeds the sum of USD 100,000 (or such other sum as
the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure
current at the time when the arbitration proceedings are commenced.
In cases where the claim or any counterclaim exceeds the sum agreed for the LMAA Small Claims Procedure
and neither the claim nor any counterclaim exceeds the sum of USD 400,000 (or such other sum as the parties
may agree) the arbitration shall be conducted in accordance with the LMAA Intermediate Claims Procedure
current at the time when the arbitration proceedings are commenced.
(b)* This Charter Party shall be governed by U.S. maritime law or, if this Charter Party is not a maritime contract
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under U.S. law, by the laws of the State of New York. Any dispute arising out of or in connection with this
Charter Party shall be referred to three (3) persons at New York, one to be appointed by each of the parties
hereto, and the third by the two so chosen. The decision of the arbitrators or any two of them shall be final,
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and for the purposes of enforcing any award, judgment may be entered on an award by any court of
competent jurisdiction. The proceedings shall be conducted in accordance with the SMA Rules current as of the
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date of this Charter Party.

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the parties may agree) the arbitration shall be conducted in accordance with the SMA Rules for Shortened
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Arbitration Procedure current as of the date of this Charter Party.
(c)* This Charter Party shall be governed by and construed in accordance with Singapore**/English** law.
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Any dispute arising out of or in connection with this Charter Party, including any question regarding its
existence, validity or termination shall be referred to and finally resolved by arbitration in Singapore in
accordance with the Singapore International Arbitration Act (Chapter 143A) and any statutory modification or
re-enactment thereof save to the extent necessary to give effect to the provisions of this Clause.
The arbitration shall be conducted in accordance with the Arbitration Rules of the Singapore Chamber of
Maritime Arbitration (SCMA) current at the time when the arbitration proceedings are commenced.
The reference to arbitration of disputes under this Clause shall be to three arbitrators. A party wishing to refer
a dispute to arbitration shall appoint its arbitrator and send notice of such appointment in writing to the other
party requiring the other party to appoint its own arbitrator and give notice that it has done so within fourteen
(14) calendar days of that notice and stating that it will appoint its own arbitrator as sole arbitrator unless the
other party appoints its own arbitrator and gives notice that it has done so within the fourteen (14) days
specified. If the other party does not give notice that it has done so within the fourteen (14) days specified, the
party referring a dispute to arbitration may, without the requirement of any further prior notice to the other
party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole
arbitrator shall be binding on both parties as if he had been appointed by agreement.
PART II
Nothing herein shall prevent the parties agreeing in writing to vary these provisions to provide for the
appointment of a sole arbitrator.
the parties may agree) the arbitration shall be conducted before a single arbitrator in accordance with the
SCMA Small Claims Procedure current at the time when the arbitration proceedings are commenced.
**Delete whichever does not apply. If neither or both are deleted, then English law shall apply by default.
(d)* This Charter Party shall be governed by and construed in accordance with the laws of the place mutually agreed
by the Parties and any dispute arising out of or in connection with this Charter Party shall be referred to
arbitration at a mutually agreed place, subject to the procedures applicable there.
(e) The parties may agree at any time to refer to mediation any difference and/or dispute arising out of or in
connection with this Charter Party. In the case of any dispute in respect of which arbitration has been
commenced under subclause (a), (c) or (d), the following shall apply:
(i) Either party may at any time and from time to time elect to refer the dispute or part of the dispute to
mediation by service on the other party of a written notice (the “Mediation Notice”) calling on the other party
to agree to mediation.
(ii) The other party shall thereupon within fourteen (14) calendar days of receipt of the Mediation Notice
confirm that they agree to mediation, in which case the parties shall thereafter agree a mediator within a
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further fourteen (14) calendar days, failing which on the application of either party a mediator will be
appointed promptly by the Arbitration Tribunal (“the Tribunal”) or such person as the Tribunal may designate
for that purpose. The mediation shall be conducted in such place and in accordance with such procedure and
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on such terms as the parties may agree or, in the event of disagreement, as may be set by the mediator.
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(iii) If the other party does not agree to mediate, that fact may be brought to the attention of the Tribunal and
may be taken into account by the Tribunal when allocating the costs of the arbitration as between the parties.
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(iv) The mediation shall not affect the right of either party to seek such relief or take such steps as it considers
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necessary to protect its interest.
(v) Either party may advise the Tribunal that they have agreed to mediation. The arbitration procedure shall
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continue during the conduct of the mediation but the Tribunal may take the mediation timetable into account
when setting the timetable for steps in the arbitration.
(vi) Unless otherwise agreed or specified in the mediation terms, each party shall bear its own costs incurred in
the mediation and the parties shall share equally the mediator’s costs and expenses.
(vii) The mediation process shall be without prejudice and confidential and no information or documents
disclosed during it shall be revealed to the Tribunal except to the extent that they are disclosable under the law
and procedure governing the arbitration.
(Note: The parties should be aware that the mediation process may not necessarily interrupt time limits.)
*Subclauses (a), (b), (c) and (d) are alternatives; indicate alternative agreed in Box 26.
If Box 26 in Part I is not appropriately filled in, subclause (a) of this Clause shall apply. Subclause (e) shall apply
in all cases except for alternative (b).
34. Notices
PART II
All notices, requests and other communications required or permitted by any clause of this Charter Party shall
be given in writing and shall be sufficiently given or transmitted if delivered by hand, email, express courier
service or registered mail and addressed if to the Owners as stated in Box 30 or such other address or email
address as the Owners may hereafter designate in writing, and if to the Charterers as stated in Box 31 or such
other address or email address as the Charterers may hereafter designate in writing. Any such communication
shall be deemed to have been given on the date of actual receipt by the party to which it is addressed.
35. Partial Validity
If by reason of any enactment or judgment any provision of this Charter Party shall be deemed or held to be
illegal, void or unenforceable in whole or in part, all other provisions of this Charter Party shall be unaffected
thereby and shall remain in full force and effect.
36. Entire Agreement
This Charter Party is the entire agreement of the parties, which supersedes all previous written or oral
understandings and which may not be modified except by a written amendment signed by both parties.
37. Headings
The headings of this Charter Party are for identification only and shall not be deemed to be part hereof or be
taken into consideration in the interpretation or construction of this Charter Party.
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38. Singular/Plural
The singular includes the plural and vice versa as the context admits or requires.
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PART III
PROVISIONS TO APPLY FOR NEWBUILDING VESSELS ONLY
(OPTIONAL, only applicable if Box 27 has been completed)
1. Specifications and Building Contract
(a) The Vessel shall be constructed in accordance with the building contract between the Builders and the Owners
including the specifications and plans incorporated therein (“Building Contract”). The Owners shall provide the
Charterers with a copy of the Building Contract to the extent relevant to this Charter Party.
(b) No variations shall be made to the Building Contract without the Charterers’ prior written consent. The
Charterers shall be entitled to request change orders in accordance with the Building Contract. Any additional
costs or consequences due to Charterers’ change orders shall be borne by the Charterers.
(c) The Owners and the Charterers will liaise and cooperate in all matters regarding the construction of the Vessel
and the Building Contract. The Charterers shall have the right to send their representative to the Builders’ yard to
inspect the Vessel during its construction.
(d) The Owners shall assign their guarantee rights under the Building Contract to the Charterers, if permitted. If not
permitted, the Owners shall exercise their guarantee rights against the Builders for the benefit of the Charterers.
The Charterers shall be obliged to accept such sums as the Owners are reasonably able to recover under the
guarantee provisions of the Building Contract.
2. Delivery and Cancellation

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(a) (i) Subject to the provisions of Clause 3 (Liquidated Damages) hereunder, the Charterers shall be obliged to
accept the Vessel from the Owners, constructed and delivered in accordance with the Building Contract and
including buyers’ supplies, on the date of delivery by the Builders. The Charterers undertake that having
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accepted the Vessel they will not thereafter raise any claims against the Owners in respect of the Vessel’s
performance or specification or defects, if any.
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(ii) The date of delivery for the purpose of this Charter shall be the date (the "Delivery Date") when the Vessel is in
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fact delivered by the Builders to the Owners in accordance with the Building Contract, whether that is before or
after the scheduled delivery date under the Building Contract. The Owners shall be under no responsibility for any
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delay whatsoever in delivery of the Vessel to the Charterers under this Charter Party, except to the extent caused
solely by the Owners' acts or omissions resulting in a default by the Owners under the Building Contract. The
Owners shall be responsible to the Charterers for any direct losses incurred by the Charterers, if the Vessel is not
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delivered to the Owners due solely to the Owners' acts or omissions resulting in a default by the Owners under
the Building Contract.
(iii) The Owners and the Charterers shall on the Delivery Date sign a Protocol of Delivery and Acceptance evidencing
delivery of the Vessel hereunder.
(b) (i) The Owners' obligation to charter the Vessel to the Charterers hereunder is conditional upon delivery of the
Vessel to the Owners by the Builders in accordance with the Building Contract.
(ii) If for any reason other than a default by the Owners under the Building Contract, the Builders become entitled
under that Contract not to deliver the Vessel and exercise that right, the Owners shall be entitled to cancel this
Charter Party by written notice to the Charterers.
(iii) If for any reason the Owners become entitled to cancel the Building Contract and exercise that right, the
Owners shall be entitled to cancel this Charter Party by written notice to the Charterers. If, however, the Owners
do not exercise their right to cancel the Building Contract, the Charterers shall be entitled to cancel this Charter
Party by written notice to the Owners.
PART III
PROVISIONS TO APPLY FOR NEWBUILDING VESSELS ONLY
3. Liquidated Damages
(a) Any liquidated damages for physical defects or deficiencies and any costs incurred in pursuing a claim therefor
shall be credited to the party stated in Box 27(iv) or if not filled in shall be shared equally between the parties.
(b) Any liquidated damages for delay in delivery under the Building Contract and any costs incurred in pursuing a
claim therefor shall be credited to the party stated in Box 27(v) or if not filled in shall be shared equally between
the parties.
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PART IV
PURCHASE OPTION
1. The Charterers shall have an option to purchase the Vessel (the “Purchase Option”) exercisable on each of the
dates stated below as follows:
Date (state number of months after Purchase Price (the “Purchase Option Price”)
delivery of the Vessel)
(months) (amount and currency)
2. To exercise their Purchase Option, the Charterers shall notify the Owners in writing not later than six (6)
months prior to the relevant date stated in the table above. Such notification shall not be withdrawn or
cancelled.
3. If the Charterers exercise their Purchase Option, the ownership of the Vessel shall be transferred to them on
the relevant date. If such date is not a Banking Day, the ownership of the Vessel shall be transferred on the
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next Banking Day, on a strictly “as is/where is” basis, at the Charterers’ sole cost and expense.
4. The Owners shall obtain and provide the Charterers with such documents and take such actions as the
Charterers may reasonably request to facilitate the sale and the registration of the Vessel under the flag
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designated by the Charterers.

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5. The Owners warrant that the Vessel at the time of transfer of ownership shall be free of any of Owners’
encumbrance or mortgage and that they have not committed any act or omission which would impair title to
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the Vessel.
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6. The Owners make no representation or warranty as to the seaworthiness, value, condition, design,
merchantability or operation of the Vessel, or as to the quality of the material, equipment or workmanship in
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the Vessel, or as to the fitness of the Vessel for any particular trade.
7. In exchange for the transfer of ownership of the Vessel, the Charterers shall pay the Purchase Option Price to
the bank account nominated by the Owners together with any unpaid charter hire and other amounts due and
payable under this Charter Party.
8. Upon payment and transfer of ownership in accordance with Clause 7 above, this Charter Party and all rights
and obligations of the parties shall terminate without prejudice to all rights accrued due between the parties
prior to the date of termination and any claim that either party might have.
PART V
PROVISIONS TO APPLY FOR VESSELS REGISTERED IN A BAREBOAT CHARTER REGISTRY
(OPTIONAL, only to apply if expressly agreed and stated in Box 29)
1. Definitions
“Bareboat Charter Registry” shall mean the registry stated in Box 29(ii) whose flag the Vessel will fly and in
which the Charterers are registered as the bareboat charterers during the period of this Charter Party.
“Underlying Registry” shall mean the registry stated in Box 29(i) in which the Owners of the Vessel are
registered as Owners and to which jurisdiction and control of the Vessel will revert upon termination of the
Bareboat Charter registration.
2. The Owners have agreed to and the Charterers shall arrange for the Vessel to be registered under the
Bareboat Charter Registry. The Charterers shall be responsible for all costs thereof.
3. Upon termination of this Charter Party for any reason whatsoever the Charterers shall immediately arrange
for the deletion of the Vessel from the Bareboat Registry.
4. In the event of the Vessel being deleted from the Bareboat Charter Registry due to any default by the
Owners, the Charterers shall have the right to terminate this Charter forthwith and without prejudice to
any other claim they may have against the Owners under this Charter Party.
Sa
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Copyright © 2017 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of this BIMCO SmartCon document
will constitute an infringement of BIMCO’s copyright. Explanatory notes are available from BIMCO at www.bimco.org. First published in 1974 as
BARECON A and B. Amalgamated and revised in 1989. Revised 2001 and 2017.

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What is the purpose of this document?

What is the purpose of this document?

What details are provided about the vessel?

What details are provided about the vessel?

1.

Place and date

2. Owners (Cl. 1) 3. Charterers (Cl. 1)

4. Vessel (Cl. 1 and 3) (v) GT/NT: /

9. Delivery notices (Cl. 4) 10. Time for delivery (Cl. 4)

state if (a) (actual net price), or (b) (current net

21. New class and other regulatory requirements (Cl. 13(b))

(i) Name of Builders:

conflict but no further.

Signature (Owners) Signature (Charterers)

In this Charter Party:

“Charterers” means the party identified in Box 3.

“Owners” means the party identified in Box 2.

(not applicable when Part III applies, as stated in Box 27).

4. Time for Delivery

(not applicable when Part III applies, as stated in Box 27)

(not applicable when Part III applies, as stated in Box 27)

7. Surveys on Delivery and Redelivery

(b) Divers inspection on delivery/re-delivery

9. Bunker fuels, oils and greases

11. Trading Restrictions

12. Contracts of Carriage

13. Maintenance and Operation

(b) New Class and Other Regulatory Requirements

AMT = agreed amount stated in Box 21(ii)

CRM = cost of Required Modification

MEL = modification’s expected life in years

RPY = remaining charter period in years

Charterers’ portion of costs = 𝑴𝑬𝑳 𝒙 𝑹𝑷𝒀

in, then subclause 13(b)(i) shall apply.

(c) Financial Security

(d) Operation of the Vessel

(e) Information to Owners

(f) Flag and Name of Vessel

(g) Changes to the Vessel

(h) Use of the Vessel’s Outfit and Equipment

equipment required in order to comply with any regulations.

(i) Periodical Dry-Docking

14. Inspection during the Charter Period

following the Owners’ notice, the payment shall stand as punctual.

(only to apply if Box 22 has been appropriately filled in)

insurers against the Charterers to seek indemnity by way of subrogation.

(b)* Charterers to Insure

(c)* Owners to Insure

for in the insurances.

19. Total loss

damage occasioned thereby shall be borne by the Charterers.

24. Wreck Removal

25. General Average

The Owners shall not contribute to General Average.

26. Assignment, Novation, Sub-Charter and Sale

27. Performance Guarantee

(Optional, to apply only if Box 25 filled in)

Any such right to terminate must be exercised without undue delay.

29. Sanctions and Designated Entities

(a) Charterers’ Default