GENCOA B 2022 – Explanatory notes
OVERVIEW
GENCOA B 2022 is a standard contract of affreightment for dry bulk cargoes. It is one of two versions of GENCOA revising the latest version of the contract issued in 2004:
GENCOA A - a framework contract that can be used with different voyage charter par...
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BIMCO’s widely-used standard barge bareboat charter party was first formulated and published in 1994 and subsequently revised in 2008 and again in 2021. It is part of a suite of offshore and marine services standard documents produced by BIMCO, which includes SUPPLYTIME, TOWCON, TOWHIRE, HEAVYCON, H...
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The following notes explain the scope of the key provisions and clarify how the document is intended to operate. They also provide users with guidance as to the nature and extent of changes made to the WRECKSTAGE 2010 form. If you have any questions about WRECKSTAGE 2024 please contact us at contra...
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GENCOA A – Explanatory notes
OVERVIEW
GENCOA A 2022 is a standard contract of affreightment for dry bulk cargoes. It is one of two versions of GENCOA revising the latest version of the contract issued in 2004:
GENCOA A - a framework contract that can be used with different voyage charter parties ...
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Table of contents
Nature of the term sheet
Part I
Part II
Clause 1 (Transaction)
Clause 2 (Transaction Documents)
Clause 3 (Memorandum of Agreement)
Clause 4 (Purchase Price)
Clause 5 (Bareboat Charter)
Clause 6 (Hire)
Clause 7 (Charter Period)
Claus...
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Table of contents
Background
Part I
Part II
Clause 1 (Definitions and Interpretation)
Clause 2 (Sale and Purchase)
Clause 3 (Subjects)
Clause 4 (Purchase Price)
Clause 5 (Deposit)
Clause 6 (Inspection)
Clause 7 (Buyers’ On-board Representatives)
Clau...
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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...
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Structure
Part I
Part II
SECTION 1 – Basis of the Contract
Clause 1 (Definitions)
Clause 2 (Commencement, Appointment and Duration)
SECTION 2 – Security Services
Clause 3 (Security Services)
Clause 4 (Engagement of Security Services)
Clause 5 (Changes to the Security Services)
Clause 6 (Security Es...
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Ship conversions are typically "one off" projects, which conceptually rest somewhere on a spectrum between repair and newbuilding. Smaller conversions are typically closer to repairs, whereas larger conversions are closer to newbuildings. CONVERSIONCON has been designed for larger conversions but re...
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TOWHIRE is the industry standard contract for ocean towage on a daily hire basis. In the latest revision, it has undergone a thorough revision to clarify ambiguities and has been restructured to make it easier to use.
TOWHIRE has been aligned with TOWCON as far as possible to ensure consistency. How...
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