The Novation Agreement for Shipbuilding Contracts is an agreement between the parties to novate the shipbuilding contract from the original buyers to the new buyers on terms set out in the agreement. The latest edition of this contract is the Novation Agreement for Shipbuilding Contracts, issued in ... Please follow the link to continue reading.
BIMCO has today published three standard novation agreements that provide a legal framework to change one of the original parties to a contract.
BIMCO's Documentary Committee met on 10 May in Copenhagen and approved for publication three standard novation agreements for time charter parties and shipbuilding contracts.
Introduction Clause 1 (Novation) Clause 2 (Guarantees) Clause 3 (Representation and Warranties) Clause 4 (Supervision) Clause 5 (Costs and Expenses) Clause 6 (Third Party Rights) Clause 7 (Notices) Clause 8 (Dispute Resolution Clause) Introduction Novation ... Please follow the link to continue reading.
Refund guarantees are an integral part of a shipbuilding project. Whilst they are not part of the shipbuilding contract as such, it is unlikely that any ship building contract would be signed if there was no such guarantee for the buyer. The refund guarantee is often regarded as the “financial corne... Please follow the link to continue reading.
See prices for using BIMCO's SmartCon contract editor
