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Background Project Team Project Timetable Mission Statement Method and Format Structure

Background Project Team Project Timetable Mission Statement Method and Format Structure. Sub-committee. Nils Gustaf Palmgren (Chairman) Finland. A A Spyrantis Sun Enterprises Ltd Greece. Georg Scheel Nordisk Norway. Hiroshi Sugiura NYK Japan. Zhang Ming China Shipbuilders

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Background Project Team Project Timetable Mission Statement Method and Format Structure

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  1. Background • Project Team • Project Timetable • Mission Statement • Method and Format • Structure

  2. Sub-committee Nils Gustaf Palmgren (Chairman) Finland A A Spyrantis Sun Enterprises Ltd Greece Georg Scheel Nordisk Norway Hiroshi Sugiura NYK Japan Zhang Ming China Shipbuilders China Daniel Evans Thomas Miller UK Amund Skou IACS Rajeev Philips INTERTANKO James Mason Wellington Underwriters UK David Taylor International Underwriters Association (IUA) Drafting Group Nils Gustaf Palmgren (Chairman) Finland Georg Scheel Nordisk Norway Daniel Evans Thomas Miller UK Chris Hilton Eversheds UK Chris Kidd Ince & Co UK PROJECT TEAM

  3. Background • Project Team • Project Timetable • Mission Statement • Method and Format • Structure

  4. Project Timeline Start July 2005 Tripartite Oct 2005 Tripartite Oct 2006 Drafting Group Drafting Group Drafting Group Drafting Group Drafting Group Drafting Group Drafting Group Sub Committee Meeting Sub Committee Meeting Sub Committee Meetings Sub Committee Meeting Sub Committee Meeting Finish May 2007 Review by Documentary Committee Nov 2006 Review by Documentary Committee Nov 2005 Review by Documentary Committee May 2006

  5. Background • Project Team • Project Timetable • Mission Statement • Method and Format • Structure

  6. MISSION STATEMENT 1. In developing a Standard Shipbuilding Contract, BIMCO’s objective is to produce a single, comprehensive document that will be applicable to all ship types and in all jurisdictions. In addition it will serve as a benchmark for the key provisions that should be contained in any shipbuilding contract and will facilitate negotiation. The Contract will build upon and not simply replicate the terms of existing contracts. It is the intention that the Contract will be drafted with the involvement of shipowners and shipyards and with the support of other relevant parties to produce a document that is acceptable to all. 2. Such a Contract will provide: Clarity - so that the parties can easily identify their rights and obligations and reduce the risk of disputes on matters of interpretation of contract terms; Balance - so that the liabilities are equally apportioned between the parties; Harmonisation – the use of standard wordings across the industry to help facilitate the business process. 3. BIMCO is renowned for its extensive experience and success in creating modern, quality documents for global use that set industry standards. Such documents may replace existing standard forms or private contracts. It is BIMCO’s objective to maintain its position at the forefront of the development of documentation and to further strengthen its role as the recognised leader in the development of standard documentation for the benefit of the entire maritime industry. In this respect, it is BIMCO’s goal to produce a standard form of contract for use in each niche of the shipping industry.

  7. MISSION STATEMENT 1. In developing a Standard Shipbuilding Contract, BIMCO’s objective is to produce a single, comprehensive document that will be applicable to all ship types and in all jurisdictions. In addition it will serve as a benchmark for the key provisions that should be contained in any shipbuilding contract and will facilitate negotiation. The Contract will build upon and not simply replicate the terms of existing contracts. It is the intention that the Contract will be drafted with the involvement of shipowners and shipyards and with the support of other relevant parties to produce a document that is acceptable to all. 2. Such a Contract will provide: Clarity - so that the parties can easily identify their rights and obligations and reduce the risk of disputes on matters of interpretation of contract terms; Balance - so that the liabilities are equally apportioned between the parties; Harmonisation – the use of standard wordings across the industry to help facilitate the business process. 3. BIMCO is renowned for its extensive experience and success in creating modern, quality documents for global use that set industry standards. Such documents may replace existing standard forms or private contracts. It is BIMCO’s objective to maintain its position at the forefront of the development of documentation and to further strengthen its role as the recognised leader in the development of standard documentation for the benefit of the entire maritime industry. In this respect, it is BIMCO’s goal to produce a standard form of contract for use in each niche of the shipping industry. 1. In developing a Standard Shipbuilding Contract, BIMCO’s objective is to produce a single, comprehensive document that will be applicable to all ship types and in all jurisdictions. In addition it will serve as a benchmark for the key provisions that should be contained in any shipbuilding contract and will facilitate negotiation. The Contract will build upon and not simply replicate the terms of existing contracts. It is the intention that the Contract will be drafted with the involvement of shipowners and shipyards and with the support of other relevant parties to produce a document that is acceptable to all.

  8. MISSION STATEMENT 1. In developing a Standard Shipbuilding Contract, BIMCO’s objective is to produce a single, comprehensive document that will be applicable to all ship types and in all jurisdictions. In addition it will serve as a benchmark for the key provisions that should be contained in any shipbuilding contract and will facilitate negotiation. The Contract will build upon and not simply replicate the terms of existing contracts. It is the intention that the Contract will be drafted with the involvement of shipowners and shipyards and with the support of other relevant parties to produce a document that is acceptable to all. 2. Such a Contract will provide: Clarity - so that the parties can easily identify their rights and obligations and reduce the risk of disputes on matters of interpretation of contract terms; Balance - so that the liabilities are equally apportioned between the parties; Harmonisation – the use of standard wordings across the industry to help facilitate the business process. 3. BIMCO is renowned for its extensive experience and success in creating modern, quality documents for global use that set industry standards. Such documents may replace existing standard forms or private contracts. It is BIMCO’s objective to maintain its position at the forefront of the development of documentation and to further strengthen its role as the recognised leader in the development of standard documentation for the benefit of the entire maritime industry. In this respect, it is BIMCO’s goal to produce a standard form of contract for use in each niche of the shipping industry. 2. Such a Contract will provide: Clarity - so that the parties can easily identify their rights and obligations and reduce the risk of disputes on matters of interpretation of contract terms; Balance - so that the liabilities are equally apportioned between the parties; Harmonisation – the use of standard wordings across the industry to help facilitate the business process.

  9. MISSION STATEMENT 1. In developing a Standard Shipbuilding Contract, BIMCO’s objective is to produce a single, comprehensive document that will be applicable to all ship types and in all jurisdictions. In addition it will serve as a benchmark for the key provisions that should be contained in any shipbuilding contract and will facilitate negotiation. The Contract will build upon and not simply replicate the terms of existing contracts. It is the intention that the Contract will be drafted with the involvement of shipowners and shipyards and with the support of other relevant parties to produce a document that is acceptable to all. 2. Such a Contract will provide: Clarity - so that the parties can easily identify their rights and obligations and reduce the risk of disputes on matters of interpretation of contract terms; Balance - so that the liabilities are equally apportioned between the parties; Harmonisation – the use of standard wordings across the industry to help facilitate the business process. 3. BIMCO is renowned for its extensive experience and success in creating modern, quality documents for global use that set industry standards. Such documents may replace existing standard forms or private contracts. It is BIMCO’s objective to maintain its position at the forefront of the development of documentation and to further strengthen its role as the recognised leader in the development of standard documentation for the benefit of the entire maritime industry. In this respect, it is BIMCO’s goal to produce a standard form of contract for use in each niche of the shipping industry. 3. BIMCO is renowned for its extensive experience and success in creating modern, quality documents for global use that set industry standards. Such documents may replace existing standard forms or private contracts. It is BIMCO’s objective to maintain its position at the forefront of the development of documentation and to further strengthen its role as the recognised leader in the development of standard documentation for the benefit of the entire maritime industry. In this respect, it is BIMCO’s goal to produce a standard form of contract for use in each niche of the shipping industry.

  10. Background • Project Team • Project Timetable • Mission Statement • Method and Format • Structure

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