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Trading outside Institute Warranties

27 April 2007

Extracts from 2ND revised Edition 1965 of "Insurance of Ships Trading Outside Institute Warranties", a report by Advanced Study Group No. 138 of THE INSURANCE INSTITUTE OF LONDON: Note: The object of the report is to make more generally available a body of information about the nature and the peculiar hazards of these regions excluded by the Institute Warranties. The report does not concern itself directly with questions of hull rating. The publication of the report by the Institute does not necessarily imply agreement with the statements made or opinions expressed, for which the Advanced Study Group alone is responsible.

BARECON 2001

19 September 2016

BARECON is a bareboat charter party. It is a lease agreement whereby the charterer obtains possession and full control of the ship along with the legal and financial responsibility for it. The charterer generally pays for all operating expenses, including fuel, crew, maintenance, repairs, and P&I and hull insurance.  The latest edition of this contract is BARECON 2017. Copyright in BARECON 2001 is held by BIMCO.

SLOTHIRE

20 September 2016

SLOTHIRE is a standard charter party for the hire of slots (space) on a ship. The latest edition of this contract is SLOTHIRE, issued 1993. Copyright in SLOTHIRE is held by BIMCO.

SUPPLYTIME 2017

20 September 2016

SUPPLYTIME is a time charter party for offshore support vessels. It operates on a knock for knock liability regime, which means that each party agrees to bear responsibility for and indemnify the other in respect of loss of or damage to their own property, and injury to or death of their own personnel, regardless of fault. The latest edition of this contract is SUPPLYTIME 2017. Copyright in SUPPLYTIME 2017 is held by BIMCO.

GUARDCON

20 September 2016

GUARDCON is an agreement for the hire of the services of private maritime security guards on ships – either armed or unarmed. The latest edition of this contract is GUARDCON, issued in 2012. Copyright in GUARDCON is held by BIMCO.