PrintedbyBIMCO’sidea
SHIPMAN2009STANDARDSHIPMANAGEMENTAGREEMENT
PARTI
1.PlaceanddateofAgreement / 2.DateofcommencementofAgreement(Cls. 2,12,21and25)
3.Owners(name,placeofregistered officeandlawofregistry) (Cl. 1)
(i)Name:
(ii)Placeofregisteredoffice:
(iii)Lawofregistry: / 4.Managers(name,placeofregistered officeandlawofregistry) (Cl. 1)
(i)Name:
(ii)Placeofregisteredoffice:
(iii)Lawofregistry:
5.TheCompany(withreferencetotheISM/ISPSCodes)(statenameandIMOUniqueCompanyIdentificationnumber.IftheCompanyisathirdpartythenalsostateregisteredofficeandprincipalplaceofbusiness)(Cls.1 and9(c)(i))
(i)Name:
(ii)IMOUniqueCompanyIdentificationnumber:
(iii)Placeofregisteredoffice:
(iv)Principalplaceofbusiness: / 6.TechnicalManagement(state“yes”or“no”asagreed) (Cl. 4)
7.CrewManagement(state“yes”or“no”asagreed)(Cl.5(a))
8.CommercialManagement(state“yes”or“no”asagreed) (Cl. 6)
9.CharteringServicesperiod(only to befilledinif“yes”statedinBox8)(Cl.6(a)) / 10.CrewInsurancearrangements(state“yes”or“no”asagreed)
(i)CrewInsurances*(Cl.5(b)):
(ii)Insuranceforpersonsproceedingtoseaonboard(Cl.5(b)(i)):
*onlytoapplyifCrewManagement(Cl.5(a))agreed(seeBox7)
11.Insurancearrangements(state“yes”or“no”asagreed) (Cl. 7) / 12.Optionalinsurances(stateoptionalinsurance(s)asagreed,suchaspiracy,kidnapandransom,lossofhireandFDD)(Cl.10(a)(iv))
13.Interest(staterateofinteresttoapplyafterduedatetooutstandingsums)(Cl.9(a)) / 14.Annualmanagementfee (stateannualamount)(Cl.12(a))
15.Manager’snominatedaccount(Cl.12(a)) / 16.Dailyrate(stateratefordaysinexcessofthoseagreedinbudget)(Cl.12(c))
17.Lay-upperiod / numberofmonths(Cl.12(d))
18.Minimumcontractperiod(statenumberofmonths)(Cl.21(a)) / 19.Managementfeeontermination(statenumberofmonths to apply)(Cl.22(g))
20.SeveranceCosts(statemaximumamount)(Cl.22(h)(ii)) / 21.DisputeResolution(statealternativeCl.23(a),23(b)or23(c);ifCl.23(c)placeofarbitrationmustbestated)(Cl.23)
22.Notices(statefullstylecontactdetailsforservingnoticeandcommunicationtotheOwners)(Cl.24) / 23.Notices(statefullstylecontactdetailsforservingnoticeandcommunicationtotheManagers) Cl.24)
ContinuedThisdocumentis a computergeneratedSHIPMAN2009formprintedbyauthorityofBIMCO. Anyinsertionordeletiontotheformmustbeclearlyvisible. Intheevent ofanymodificationmadetothepre-printedtextofthisdocumentwhichisnotclearlyvisible,thetextoftheoriginalBIMCOapproved documentshallapply. BIMCOassumesnoresponsibilityforanyloss,damageorexpenseas a resultofdiscrepanciesbetweentheoriginalBIMCOapproveddocumentandthiscomputergenerateddocument.
PrintedbyBIMCO’sideaSHIPMAN2009
Standard ship management agreementPART 1
(Continued)
ItismutuallyagreedbetweenthepartystatedinBox 3andthepartystatedinBox 4thatthisAgreementconsistingofPART l andPARTllaswellasAnnexes“A”(DetailsofVesselorVessels),“B” (DetailsofCrew),“C” (Budget),“D” (AssociatedVessels)and“E” (FeeSchedule)attachedhereto,shallbeperformedsubjectto theconditionscontainedherein.In theeventof a conflictofconditions,the provisionsofPART l andAnnexes“A”,“B”,“C”,“D”and“E”shallprevailoverthoseofPARTll to theextentofsuchconflictbutnofurther.
1.Definitions1
InthisAgreementsavewherethecontextotherwise requires,thefollowingwordsandexpressionsshallhave2
the meanings herebyassigned to them:3
“Company”(withreferencetotheISMCodeandtheISPSCode)meanstheorganizationidentified inBox54
oranyreplacementorganizationappointedbytheOwnersfromtimetotime(seeSub-clauses9(b)(i)or9(c)5
(ii),whichever is applicable).6
“Crew”meansthepersonnelofthenumbers,rank andnationalityspecifiedinAnnex “B”hereto.7
“CrewInsurances”meansinsuranceofliabilitiesinrespectofcrewriskswhichshallincludebutnotbelimited8
todeath,permanentdisability,sickness,injury,repatriation, shipwreckunemploymentindemnity andloss9
ofpersonaleffects(seeSub-clause5(b)(CrewInsurances)andClause 7(InsuranceArrangements)and10
Clause 10(InsurancePolicies)andBoxes10and 11).11
“CrewSupportCosts”meansallexpensesofa generalnaturewhicharenotparticularlyreferabletoany12
individualvesselforthetimebeingmanagedbytheManagers andwhichareincurredbytheManagersforthe13
purposeofprovidinganefficientandeconomicmanagementserviceand,withoutprejudicetothegenerality14
oftheforegoing,shallincludethecostofcrewstandbypay,trainingschemesforofficersandratings,cadet15
trainingschemes,sickpay,studypay,recruitmentandinterviews.16
“FlagState”meanstheStatewhoseflagtheVesselisflying.17
“ISMCode”meanstheInternationalManagementCodefortheSafeOperationofShipsandforPollution18
Prevention and anyamendment theretoorsubstitutiontherefor.19
“ISPSCode”meanstheInternationalCodefortheSecurityofShipsand Port Facilitiesandtherelevant20
amendmentstoChapterXIofSOLASandany amendmenttheretoorsubstitutiontherefor.21
“Managers”meansthepartyidentified inBox 4.22
“ManagementServices”meanstheservicesspecifiedinSECTION 2 - Services(Clauses 4through7) as23
indicatedaffirmatively inBoxes 6 through8,10 and 11, and all other functions performedbythe Managers24
underthetermsofthisAgreement.25
“Owners”meanstheparty identifiedinBox 3.26
“SeveranceCosts”meansthecostswhich are legallyrequiredtobepaid to theCrewasa resultoftheearly27
terminationofanycontractsforservice on theVessel.28
“SMS”meanstheSafetyManagementSystem(asdefinedbytheISMCode).29
“STCW95”meanstheInternationalConventiononStandards ofTraining,CertificationandWatchkeeping30
forSeafarers,1978,asamended in 1995andanyamendmenttheretoorsubstitutiontherefor.31
“Vessel”meansthevesselorvesselsdetailsofwhich are setoutinAnnex “A” attachedhereto.32
2.CommencementandAppointment33
Witheffectfromthedatestatedin Box2forthecommencementoftheManagementServicesandcontinuing34
unlessanduntilterminatedasprovidedherein,theOwnershereby appointtheManagersandtheManagers35
hereby agreetoactastheManagersoftheVessel in respectoftheManagementServices.36
3.Authorityof the Managers37
Subjecttothetermsandconditionshereinprovided,duringtheperiodofthisAgreementtheManagersshall38
carryouttheManagementServicesinrespectoftheVesselasagentsforandonbehalfoftheOwners.The39
Managersshallhaveauthoritytotakesuchactionsastheymayfromtimetotimeintheirabsolutediscretion40
considertobenecessarytoenablethemtoperformtheManagementServicesinaccordancewithsound41
shipmanagementpractice,includingbutnotlimitedtocompliancewithallrelevantrulesandregulations.42
4.TechnicalManagement43
(onlyapplicableifagreedaccordingtoBox 6).44
The Managersshallprovidetechnicalmanagementwhichincludes,butisnotlimitedto,thefollowing45
services:46
(a)ensuringthattheVesselcomplieswith the requirementsofthe lawoftheFlagState;47
(b)ensuringcompliancewith theISMCode;48
(c)ensuringcompliancewith theISPSCode;49
(d)providingcompetentpersonneltosupervisethemaintenanceandgeneralefficiencyoftheVessel;50
(e)arrangingandsupervising dry dockings,repairs,alterationsandthemaintenanceoftheVesseltothe51
standardsagreedwiththeOwnersprovidedthattheManagersshallbeentitledtoincurthenecessary52
expendituretoensurethattheVesselwillcomplywithallrequirementsandrecommendationsofthe53
classificationsociety,andwith the lawoftheFlagStateandoftheplaceswheretheVesselisrequiredto54
trade;55
(f)arrangingthesupply ofnecessary stores,sparesandlubricatingoil;56
(g)appointingsurveyorsandtechnicalconsultantsastheManagersmayconsiderfromtimetotimetobe57
necessary;58
(h)inaccordancewith theOwners’instructions,supervisingthesaleandphysicaldelivery oftheVessel59
underthesaleagreement.Howeverservicesunderthis Sub-clause4(h)shallnotincludenegotiationofthe60
saleagreementortransferofownershipoftheVessel;61
(i)arrangingforthesupplyofprovisionsunlessprovidedbytheOwners;and62
(j)arrangingforthesamplingandtestingofbunkers.63
5.CrewManagementandCrewInsurances64
(a)CrewManagement65
(onlyapplicableifagreedaccordingtoBox 7)66
The Managersshallprovidesuitably qualifiedCrew whoshallcomplywiththerequirementsofSTCW95.67
The provisionofsuchcrewmanagementservicesincludes,butisnotlimitedto,thefollowingservices:68
(i)selecting,engaging and providingfortheadministrationoftheCrew,including,asapplicable,payroll69
arrangements,pensionarrangements,tax,socialsecuritycontributions and other mandatoryduesrelated70
totheiremploymentpayable in each Crewmember’scountry ofdomicile;71
(ii)ensuringthattheapplicablerequirementsofthelawoftheFlagState in respectofrank,qualification72
andcertificationoftheCrewandemploymentregulations,suchasCrew’staxandsocialinsurance,are73
satisfied;74
(iii)ensuringthatallCrewhavepassed amedicalexaminationwith a qualifieddoctorcertifyingthatthey are75
fitforthedutiesforwhichthey areengagedand are inpossessionofvalidmedicalcertificatesissued in76
accordancewith appropriateFlagStaterequirementsorsuchhigherstandardofmedicalexamination77
asmay beagreedwith theOwners.Intheabsenceof applicableFlagStaterequirementsthemedical78
certificateshallbevalidatthetimewhentherespectiveCrewmemberarrivesonboard the Vesseland79
shallbemaintainedforthedurationoftheserviceonboardtheVessel;80
(iv)ensuringthattheCrewshallhavea commonworkinglanguageanda commandoftheEnglishlanguage81
of a sufficientstandardtoenablethemtoperformtheirdutiessafely;82
(v)arranging transportation ofthe Crew,including repatriation;83
(vi)training of the Crew;84
(vii)conductingunion negotiations;and85
(viii)iftheManagersaretheCompany,ensuringthattheCrew,onjoiningtheVessel, are givenproper86
familiarisationwith theirdutiesinrelationtotheVessel’s SMS andthatinstructionswhichareessential87
totheSMSareidentified,documentedandgiventotheCrewpriortosailing.88
(ix)iftheManagersarenot the Company:89
(1)ensuringthattheCrew,beforejoiningtheVessel,aregivenproperfamiliarisationwiththeirduties90
in relation to the ISM Code; and91
(2)instructingtheCrewtoobey allreasonableordersoftheCompany inconnectionwiththeoperation92
oftheSMS.93
(x)WhereManagers arenot providingtechnicalmanagementservicesinaccordancewithClause 494
(TechnicalManagement):95
(1)ensuringthatnopersonconnectedtotheprovisionandtheperformanceofthecrewmanagement96
servicesshallproceedtoseaonboardtheVesselwithoutthepriorconsentoftheOwners(suchconsent97
nottobeunreasonablywithheld);and98
(2)ensuringthatintheeventthattheOwners’drugandalcoholpolicyrequiresmeasurestobetaken99
priortotheCrewjoiningtheVessel,implementingsuchmeasures;100
(b)CrewInsurances101
(onlyapplicableifSub-clause5(a)applies and ifagreedaccordingto Box10)102
The ManagersshallthroughouttheperiodofthisAgreementprovidethefollowing services:103
(i) / arrangingCrewInsurancesinaccordancewiththebestpracticeofprudentmanagersofvesselsof a / 104similartypeto the Vessel,withsoundandreputableinsurancecompanies,underwritersorassociations. / 105
InsurancesforanyotherpersonsproceedingtoseaonboardtheVesselmaybeseparately agreedby / 106
theOwnersandtheManagers(seeBox 10); / 107
(ii) / ensuringthattheOwnersareawareoftheterms,conditions,exceptionsand limitsofliabilityofthe / 108
insurances in Sub-clause5(b)(i); / 109
(iii) / ensuringthatallpremiumsorcallsinrespectoftheinsurancesinSub-clause5(b)(i)arepaidbytheir / 110
duedate; / 111
(iv) / ifobtainableatnoadditionalcost,ensuringthatinsurancesinSub-clause5(b)(i)name the Ownersas / 112
a jointassuredwith fullcoverand,unlessotherwiseagreed,ontermssuchthatOwnersshallbeunder / 113
noliability inrespectofpremiumsorcallsarising in connectionwith suchinsurances. / 114
(v) / providingwrittenevidence, tothereasonablesatisfactionoftheOwners,oftheManagers’compliancewith / 115
theirobligationsunderSub-clauses5(b)(ii),and 5(b)(iii)within a reasonabletimeofthecommencement / 116
ofthisAgreement,andofeachrenewaldateand,ifspecifically requested,ofeachpaymentdateofthe / 117
insurances in Sub-clause5(b)(i). / 118
6.Commercial Management119
(onlyapplicableifagreedaccordingtoBox 8).120
The ManagersshallprovidethefollowingservicesfortheVessel in accordancewith theOwners’instructions,121
whichshallincludebutnotbelimitedto:122
(a)seekingandnegotiatingemploymentfortheVesselandtheconclusion(includingtheexecutionthereof)123
ofcharterpartiesorothercontractsrelating to theemploymentoftheVessel.Ifsuch a contractexceedsthe124
periodstated in Box9,consenttheretoinwritingshallfirst be obtained from the Owners;125
(b)arrangingfortheprovisionofbunkerfuelsofthequalityspecifiedbythe Ownersasrequiredforthe126
Vessel’strade;127
(c)voyageestimatingandaccountingandcalculationofhire,freights,demurrageand/ordespatchmonies128
duefromorduetothecharterersoftheVessel;assistinginthecollectionofanysumsduetotheOwners129
relatedtothecommercialoperationoftheVesselinaccordancewithClause 11(IncomeCollectedand130
Expenses Paid on Behalf of Owners);131
IfanyoftheservicesunderSub-clauses6(a),6(b)and 6(c)aretobeexcludedfromtheManagementFee,remuneration132
fortheseservicesmust be statedinAnnex E(FeeSchedule).SeeSub-clause12(e).133
(d)issuingvoyageinstructions;134
(e)appointing agents;135
(f)appointing stevedores; and136
(g)arrangingsurveysassociatedwith thecommercialoperationoftheVessel.137
7.Insurance Arrangements138
(onlyapplicableifagreedaccordingtoBox 11).139
The ManagersshallarrangeinsurancesinaccordancewithClause 10(InsurancePolicies),onsuchtermsas140
theOwnersshallhaveinstructedoragreed, in particularregardingconditions,insuredvalues,deductibles,141
franchisesandlimitsofliability.142
8.Managers’ Obligations143
(a)The ManagersundertaketousetheirbestendeavourstoprovidetheManagementServicesasagents144
forandonbehalfoftheOwnersinaccordancewithsoundshipmanagementpracticeandtoprotectand145
promotetheinterestsoftheOwners in allmattersrelatingtotheprovisionofserviceshereunder.146
Providedhowever,thatintheperformanceoftheirmanagementresponsibilitiesunderthisAgreement,the147
Managersshallbeentitledtohaveregardtotheiroverallresponsibility inrelationtoallvesselsasmayfrom148
timetotimebeentrustedtotheirmanagementandinparticular,butwithoutprejudicetothegeneralityof149
theforegoing,theManagersshallbeentitledtoallocateavailablesupplies,manpowerandservicesinsuch150
mannerasintheprevailingcircumstancestheManagersintheirabsolutediscretionconsidertobefairand151
reasonable.152
(b)WheretheManagers are providingtechnicalmanagementservices in accordancewithClause 4 (Technical153
Management),theyshallprocurethattherequirementsoftheFlagState are satisfiedandtheyshallagree154
tobeappointedastheCompany,assumingtheresponsibilityfortheoperationoftheVesselandtakingover155
thedutiesandresponsibilitiesimposedbytheISMCode and theISPSCode,ifapplicable.156
9.Owners’ Obligations157
(a)The Ownersshallpayallsumsduetothe Managerspunctually inaccordancewith the termsofthis158
Agreement.IntheeventofpaymentaftertheduedateofanyoutstandingsumstheManagershallbeentitled159
tochargeinterestattheratestatedin Box13.160
(b)WheretheManagers are providingtechnicalmanagementservices in accordancewithClause 4 (Technical161
Management),theOwnersshall:162
(i)report(orwheretheOwnersarenottheregisteredownersoftheVesselprocurethattheregistered163
ownersreport)totheFlagStateadministrationthedetailsoftheManagersastheCompanyasrequired164
tocomplywiththeISMandISPSCodes;165
(ii)procurethatanyofficersandratingssuppliedbythemorontheirbehalfcomplywiththerequirements166
ofSTCW95;and167
(iii)instruct such officers and ratings to obeyall reasonable orders ofthe Managers (in their capacityas the168
Company)inconnectionwiththeoperation of theManagers’safetymanagementsystem.169
(c)WheretheManagers are not providingtechnicalmanagementservicesinaccordancewithClause4170
(TechnicalManagement),theOwnersshall:171
(i)procurethattherequirementsoftheFlagState aresatisfiedandnotifytheManagersuponexecutionof172
thisAgreementofthenameandcontactdetailsoftheorganizationthatwillbetheCompany by completing173
Box5;174
(ii)iftheCompanychangesatanytimeduringthisAgreement,notifythe Managersin a timely mannerof175
thenameandcontactdetailsofthe neworganization;176
(iii)procurethatthedetailsoftheCompany,includinganychangethereof,arereportedtotheFlagState177
administrationasrequiredtocomplywith theISMand ISPSCodes. The OwnersshalladvisetheManagers178
in a timelymannerwhentheFlagStateadministrationhasapprovedtheCompany;and179
(iv)unlessotherwise agreed,arrangeforthesupply ofprovisionsattheirownexpense.180
(d)WheretheManagers are providingcrewmanagementservicesinaccordancewithSub-clause5(a)the181
Ownersshall:182
(i)informtheManagerspriortoorderingtheVessel to any excluded or additionalpremiumareaunder183
any oftheOwners’Insurancesbyreasonofwarrisksand/orpiracy orlikeperilsandpaywhatever184
additionalcostsmayproperlybe incurredbytheManagersas a consequenceofsuchordersincluding,185
if necessary, the costs of replacing anymember ofthe Crew.Anydelays resulting fromnegotiation186
with or replacement of anymember of the Crewasa resultoftheVesselbeingorderedtosuchanarea187
shallbefortheOwners’account.ShouldtheVesselbewithinanareawhichbecomesanexcludedor188
additionalpremiumareatheaboveprovisionsrelatingtocostanddelayshallapply;189
(ii)agreewith theManagerspriortoanychange offlagoftheVesselandpaywhateveradditionalcosts190
mayproperlybe incurred bythe Managers as aconsequenceofsuchchange.Ifagreementcannotbe191
reachedtheneitherparty mayterminatethisAgreementinaccordancewithSub-clause22(e); and192
(iii)provide,atnocosttotheManagers,inaccordancewiththerequirementsofthe lawoftheFlagState,193
or higher standard, as mutuallyagreed, adequate Crewaccommodationandlivingstandards.194
(e)WheretheManagers are not theCompany,theOwnersshallensurethatCreware properly familiarised195
with theirdutiesinaccordancewith theVessel’sSMSandthatinstructionswhich are essentialtotheSMS196
areidentified,documentedandgiventotheCrewpriortosailing.197
10.InsurancePolicies198
The Ownersshallprocure,whether by instructingtheManagersunder Clause 7(Insurance Arrangements)199
orotherwise,thatthroughouttheperiodofthisAgreement:200
(a)at theOwners’expense,theVesselisinsuredfornotlessthanitssoundmarketvalueorenteredforits201
full gross tonnage, as the case maybe for:202
(i)hullandmachinery marinerisks(includingbutnotlimitedtocrewnegligence)andexcessliabilities;203
(ii)protectionandindemnity risks(includingbutnotlimitedtopollutionrisks,diversionexpensesand,204
excepttotheextentinsuredseparatelyby theManagersinaccordancewith Sub-clause5(b)(i), Crew205
Insurances;206
NOTE:IftheManagers are notproviding crewmanagement services under Sub-clause5(a)(Crew207
Management)orhaveagreednottoprovideCrewInsurancesseparately in accordancewithSub-clause208
5(b)(i),thensuchinsurancesmust be includedintheprotectionandindemnityriskscoverfortheVessel(see209
Sub-clause10(a)(ii)above).210
(iii)warrisks(includingbutnotlimitedtoblockingandtrapping,protectionandindemnity,terrorismandcrew211
risks);and212
(iv)such optional insurances as maybeagreed(suchaspiracy,kidnapandransom,lossofhireand213
FDD)(see Box12)214
Sub-clauses10(a)(i)through 10(a)(iv)allinaccordancewith thebestpracticeofprudentownersofvessels215
of a similartype totheVessel,withsoundandreputableinsurancecompanies,underwritersorassociations216
(“theOwners’Insurances”);217
(b)allpremiumsandcallsontheOwners’Insurancesarepaidbytheirduedate;218
(c)theOwners’InsurancesnametheManagersand,subjecttounderwriters’agreement,anythirdparty219
designated bythe Managers as a joint assured,with fullcover.Itisunderstoodthat in somecases,suchas220
protectionandindemnity,thenormaltermsforsuchcovermayimposeontheManagersandanysuchthird221
party a liability inrespectofpremiumsorcallsarisinginconnectionwiththeOwners’Insurances.222
Ifobtainableatnoadditionalcost,however,theOwnersshallprocuresuchinsurancesontermssuchthat223
neithertheManagersnoranysuchthirdparty shallbeunderanyliabilityinrespectofpremiumsorcallsarising224
inconnectionwith theOwners’Insurances.Inanyevent,ontermination of thisAgreementinaccordance225
with Clause 21(DurationoftheAgreement)and Clause 22(Termination),theOwnersshallprocurethatthe226
Managersandanythirdparty designatedbytheManagersasjointassuredshallceasetobejointassured227
and,ifreasonably achievable,thattheyshallbereleasedfromany andallliabilityforpremiumsandcalls228
thatmayariseinrelationtotheperiodofthisAgreement;and229
(d)writtenevidenceisprovided,tothereasonable satisfactionoftheManagers,oftheOwners’compliance230
with theirobligationsunderthisClause 10within a reasonabletimeofthecommencementoftheAgreement,231
andofeachrenewaldateand,ifspecifically requested,ofeachpaymentdateoftheOwners’Insurances.232
11.IncomeCollectedandExpensesPaidonBehalfof Owners233
(a)ExceptasprovidedinSub-clause11(c)all monies collected bythe Managersunderthetermsofthis234
Agreement(otherthanmoniespayable by theOwners totheManagers)andanyinterestthereonshallbe235
heldtothecreditoftheOwnersin a separatebankaccount.236
(b)AllexpensesincurredbytheManagersunderthetermsofthisAgreementonbehalfoftheOwners237
(includingexpensesasprovidedin Clause12(c)) maybe debited against the Ownersintheaccountreferredto238
underSub-clause11(a)butshallinanyeventremainpayable bytheOwnerstotheManagersondemand.239
(c)All monies collected bythe Managers underClause 6(CommercialManagement)shallbepaidintoa240
bankaccountinthenameoftheOwnersorasmay beotherwiseadvisedbytheOwnersinwriting.241
12.Management Fee and Expenses242
(a)The OwnersshallpaytotheManagersanannualmanagementfeeasstatedin Box14fortheirservices243
asManagersunderthisAgreement,whichshallbepayable in equalmonthlyinstalmentsinadvance,thefirst244
instalment(prorataifappropriate)beingpayableonthecommencementofthisAgreement(seeClause 2245
(CommencementandAppointment)andBox 2)andsubsequentinstalmentsbeingpayableatthebeginning246
ofeverycalendarmonth. Themanagementfeeshall bepayabletotheManagers’nominatedaccountstated247
in Box 15.248
(b)The managementfeeshallbesubjecttoanannualreviewandtheproposedfeeshall be presentedin249
theannualbudgetinaccordancewithSub-clause13(a).250
(c)The Managersshall,atnoextracosttotheOwners,providetheirownofficeaccommodation,officestaff,251
facilitiesandstationery.WithoutlimitingthegeneralityofthisClause 12(ManagementFeeandExpenses)the252
OwnersshallreimbursetheManagersforpostageandcommunicationexpenses,travellingexpenses,and253
otheroutofpocketexpensesproperly incurredby theManagersinpursuanceoftheManagementServices.254
Any daysusedbytheManagers’personneltravellingto orfromorattendingontheVesselorotherwiseused255
inconnectionwith theManagementServicesinexcessofthoseagreedinthebudgetshallbechargedat256
thedailyratestatedin Box16.257
(d)IftheOwnersdecidetolayuptheVesselandsuchlayuplastsformorethanthenumberofmonths258
statedinBox17,anappropriatereductionoftheManagementFeefortheperiodexceedingsuchperiod259
untilonemonthbeforetheVesselisagainputintoserviceshall be mutually agreedbetweentheparties.If260
theManagersareproviding crewmanagementservices in accordancewith Sub-clause5(a),consequential261
costsofreductionandreinstatementofthe CrewshallbefortheOwners’account.Ifagreementcannotbe262
reachedtheneitherparty mayterminatethisAgreementinaccordancewithSub-clause22(e).263
(e)Saveasotherwise providedinthisAgreement,alldiscountsandcommissionsobtainedby theManagers264
inthecourseoftheperformanceoftheManagementServicesshallbecreditedtotheOwners.265
13.Budgets and Management of Funds266
(a)The Managers’initialbudgetissetout inAnnex“C”hereto.Subsequentbudgetsshallbefortwelve267
monthperiodsandshallbeprepared by theManagersandpresentedtotheOwnersnotlessthanthree268
monthsbeforetheendofthebudgetyear.269
(b)The OwnersshallstatetotheManagersin a timely manner,butin any eventwithinonemonthof270
presentation,whetherornotthey agreetoeachproposedannualbudget. The partiesshallnegotiateingood271
faithandiftheyfailtoagreeon theannualbudget,includingthemanagementfee,eitherpartymayterminate272
thisAgreementinaccordancewith Sub-clause 22(e).273
(c)Followingtheagreementofthebudget,theManagersshallprepareandpresenttotheOwnerstheir274
estimateoftheworkingcapitalrequirementfortheVesselandshalleachmonthrequesttheOwnersinwriting275
topaythefundsrequiredtoruntheVesselfortheensuingmonth,includingthepaymentofany occasionalor276
extraordinaryitemofexpenditure,suchasemergencyrepaircosts,additionalinsurancepremiums,bunkers277
orprovisions.SuchfundsshallbereceivedbytheManagerswithintenrunningdaysafterthereceiptbythe278
OwnersoftheManagers’writtenrequestandshallbeheldtothecreditoftheOwnersin a separatebank279
account.280
(d)The ManagersshallatalltimesmaintainandkeeptrueandcorrectaccountsinrespectoftheManagement281
Services in accordancewiththerelevantInternationalFinancialReportingStandardsorsuchotherstandard282
asthepartiesmayagree,includingrecordsofallcosts andexpenditureincurred,andproduce a comparison283
betweenbudgetedandactualincomeandexpenditureoftheVesselinsuchformandatsuchintervalsas284
shallbemutuallyagreed.285
The ManagersshallmakesuchaccountsavailableforinspectionandauditingbytheOwnersand/ortheir286
representativesintheManagers’officesorby electronicmeans,providedreasonablenoticeisgiven bythe287
Owners.288
(e)Notwithstandinganythingcontainedherein, theManagersshall in nocircumstances be requiredto use289
orcommittheirownfundstofinancetheprovisionoftheManagementServices.290
14.Trading Restrictions291
IftheManagersareprovidingcrewmanagementservices in accordancewith Sub-clause 5(a)(Crew292
Management),theOwnersandtheManagerswill,priorto thecommencementofthisAgreement, agree on any293
tradingrestrictionstotheVesselthatmayresultfromtheterms and conditions of the Crew’semployment.294
15.Replacement295
IftheManagersareprovidingcrewmanagementservices in accordancewith Sub-clause 5(a)(Crew296
Management),theOwnersmayrequire the replacement, attheir ownexpense,atthenextreasonable297
opportunity,ofanymemberofthe Crewfoundonreasonablegroundstobeunsuitableforservice.Ifthe298
ManagershavefailedtofulfiltheirobligationsinprovidingsuitablequalifiedCrew within the meaningofSub-299
clause5(a)(CrewManagement),thensuchreplacementshallbeattheManagers’expense.300
16.Managers’Rightto Sub-Contract301
The Managersshallnotsubcontractany oftheirobligationshereunderwithout thepriorwrittenconsentof302
theOwnerswhichshallnotbeunreasonablywithheld.Intheeventofsucha sub-contracttheManagers303
shallremainfullyliableforthedueperformanceoftheirobligationsunderthisAgreement.304
17.Responsibilities305
(a)ForceMajeure306
Neitherpartyshallbeliableforanyloss,damageordelayduetoanyofthefollowingforcemajeureevents307
and/orconditionstotheextentthattheparty invokingforcemajeureispreventedorhinderedfrom308
performinganyoralloftheirobligationsunderthisAgreement,providedthey havemadeall309
reasonableeffortstoavoid,minimizeorpreventtheeffectofsucheventsand/orconditions:310
(i)actsof God;311
(ii)anyGovernmentrequisition,control,intervention,requirementorinterference;312
(iii)anycircumstancesarisingoutofwar,threatenedactofwarorwarlikeoperations,actsofterrorism,313
sabotageorpiracy,ortheconsequencesthereof;314
(iv)riots,civilcommotion,blockadesorembargoes;315
(v)epidemics;316
(vi)earthquakes,landslides,floodsorother extraordinaryweatherconditions;317
(vii)strikes,lockoutsorotherindustrialaction,unlesslimitedtotheemployees(whichshallnotincludethe318
Crew)ofthepartyseekingtoinvokeforcemajeure;319
(viii)fire,accident,explosionexceptwherecausedby negligenceofthepartyseekingtoinvokeforcemajeure;320
and321
(ix)anyothersimilarcausebeyondthereasonablecontrolofeitherparty.322
(b)LiabilitytoOwners323
(i)Without prejudicetoSub-clause17(a),theManagersshallbeundernoliabilitywhatsoevertotheOwners324
forany loss,damage,delayorexpenseofwhatsoevernature,whetherdirectorindirect,(includingbut325
notlimitedtolossofprofitarisingoutoforinconnectionwith detentionofor delayto the Vessel) and326
howsoeverarisinginthecourseofperformanceoftheManagementServicesUNLESSsameisproved327
tohaveresultedsolelyfromthenegligence,grossnegligenceorwilfuldefaultoftheManagersortheir328
employeesoragents,orsub-contractorsemployedby themin connection with the Vessel, inwhich case329
(savewhereloss,damage,delayorexpensehasresultedfromtheManagers’personalactoromission330
committedwiththeintenttocausesameorrecklesslyandwith knowledgethatsuchloss,damage,331
delay orexpensewouldprobablyresult)theManagers’liabilityforeachincidentorseriesofincidents332
givingriseto aclaimorclaimsshallneverexceed atotaloften(10)timestheannualmanagementfee333
payablehereunder.334
(ii)ActsoromissionsoftheCrew- Notwithstandinganythingthatmay appeartothecontrary inthis335
Agreement,theManagersshallnotbeliableforanyactsoromissionsoftheCrew,evenifsuchacts336
oromissions are negligent,grossly negligentorwilful,exceptonlytotheextentthatthey areshownto337
haveresultedfrom a failure by theManagerstodischargetheirobligationsunderClause5(a)(Crew338
Management),inwhichcasetheirliabilityshallbelimitedinaccordancewiththetermsofthisClause339
17(Responsibilities).340
(c)Indemnity341
Excepttotheextentandsolely fortheamountthereinsetoutthattheManagerswouldbeliableunder342
Sub-clause17(b),theOwnersherebyundertaketokeeptheManagersandtheiremployees,343
agentsandsub-contractorsindemnifiedandtoholdthemharmlessagainstallactions,proceedings,claims,344
demandsorliabilitieswhatsoeverorhowsoeverarisingwhichmay bebroughtagainstthemorincurred or345
sufferedby themarisingoutoforinconnectionwiththeperformanceofthisAgreement,andagainstandin346
respectofallcosts,loss,damagesandexpenses(includinglegalcostsandexpenseson a fullindemnity347
basis)whichtheManagers maysufferorincur(eitherdirectlyorindirectly)inthecourseoftheperformance348
ofthisAgreement.349
(d)“Himalaya”350
Itishereby expressly agreedthatnoemployeeor agentoftheManagers(includingevery351
sub-contractor from time to timeemployedbythe Managers)shallinanycircumstanceswhatsoeverbe352
underanyliabilitywhatsoevertotheOwnersforanyloss,damageordelay ofwhatsoeverkindarisingor353
resultingdirectly orindirectlyfromanyact,neglectordefaultonhispartwhileactinginthecourseoforin354
connectionwithhisemploymentand,withoutprejudiceto thegeneralityoftheforegoingprovisions in this355
Clause 17(Responsibilities),every exemption,limitation,conditionandlibertyhereincontainedandevery356
right,exemptionfromliability,defenceandimmunity ofwhatsoevernatureapplicabletotheManagersorto357
whichtheManagers are entitledhereundershallalsobeavailableandshallextendtoprotecteverysuch358
employeeoragentoftheManagersacting asaforesaidandforthepurposeofalltheforegoingprovisions359
ofthis Clause 17(Responsibilities)theManagersareorshallbedeemedtobeactingasagentortrustee360
onbehalfofandforthebenefitofallpersonswho are ormightbetheirservantsoragentsfromtimetotime361
(includingsub-contractorsasaforesaid)andallsuchpersonsshalltothisextentbeorbedeemedtobe362
partiestothisAgreement.363
18.GeneralAdministration364
(a)The ManagersshallkeeptheOwnersand,ifappropriate,theCompanyinformedina timelymannerof365
anyincidentofwhichtheManagersbecomeawarewhichgivesormay giverisetodelayto theVesselor366
claimsordisputesinvolvingthirdparties.367
(b)The ManagersshallhandleandsettleallclaimsanddisputesarisingoutoftheManagementServices368
hereunder,unlesstheOwnersinstructtheManagersotherwise. The Managersshallkeep theOwners369
appropriately informed ina timelymannerthroughoutthehandlingofsuchclaimsanddisputes.370
(c)The Owners mayrequest the Managers tobringordefendotheractions,suitsorproceedingsrelated371
totheManagementServices,ontermstobeagreed.372
(d)The Managersshallhave powertoobtainappropriate legalortechnicalorotheroutsideexpertadvicein373
relationtothehandlingandsettlementofclaimsinrelation to Sub-clauses18(a)and 18(b) anddisputesand374
anyothermattersaffectingtheinterestsoftheOwnersinrespectoftheVessel,unlesstheOwnersinstruct375
theManagersotherwise.376
(e)On giving reasonable notice, the Owners mayrequest,andtheManagersshallin a timely mannermake377
available,alldocumentation,information and recordsin respect of the matterscovered bythis Agreement378
eitherrelatedtomandatoryrulesorregulationsorotherobligationsapplyingtotheOwnersinrespectof379
theVessel(includingbutnotlimitedtoSTCW95,theISMCodeandISPSCode)totheextentpermittedby380
relevantlegislation.381
Ongivingreasonablenotice,theManagersmayrequest,andtheOwnersshall ina timely mannermake382
available,alldocumentation,informationandrecordsreasonablyrequired bythe Managerstoenablethem383
toperformtheManagementServices.384
(f)TheOwnersshallarrangefortheprovisionofanynecessaryguaranteebondorothersecurity.385
(g)Anycosts incurred bythe Managers incarryingouttheirobligationsaccordingtothisClause 18(General386
Administration)shallbereimbursedby theOwners.387
19.InspectionofVessel388
The Owners may atanytimeaftergivingreasonablenoticetotheManagersinspecttheVesselforanyreason389
theyconsider necessary.390
20.CompliancewithLawsand Regulations391
The partieswillnotdoorpermittobedoneanythingwhichmightcauseanybreachorinfringementofthe392
lawsandregulationsoftheFlagState,oroftheplaceswheretheVesseltrades.393
21.Duration of theAgreement394
(a)ThisAgreementshallcomeintoeffectatthedatestatedin Box2andshallcontinueuntilterminatedby395
eitherpartyby givingnoticetotheother;inwhicheventthisAgreementshallterminateupontheexpiration396
ofthelaterofthenumberofmonthsstated inBox18 or a periodoftwo(2)monthsfromthedateonwhich397
suchnoticeisreceived,unlessterminatedearlier in accordancewithClause 22(Termination).398
(b)WheretheVesselisnotat a mutually convenientportorplaceontheexpiry ofsuchperiod,thisAgreement399
shallterminateonthesubsequentarrivaloftheVesselatthenextmutuallyconvenientportorplace.400
22.Termination401
(a)Owners’orManagers’default402
IfeitherpartyfailstomeettheirobligationsunderthisAgreement,theotherpartymaygivenoticetothe403
partyin defaultrequiring them to remedyit. In the event thatthepartyindefaultfailstoremedy itwithin a404
reasonabletimetothereasonablesatisfactionoftheotherparty,thatparty shallbeentitledtoterminatethis405
Agreementwith immediateeffectbygivingnoticetothe partyindefault.406
(b)NotwithstandingSub-clause22(a):407
(i)The ManagersshallbeentitledtoterminatetheAgreementwith immediateeffect by givingnoticetothe408
OwnersifanymoniespayablebytheOwnersand/ortheownersofanyassociatedvessel,detailsof409
whicharelistedinAnnex “D”,shallnothavebeenreceived in theManagers’nominatedaccountwithin410
ten(10)daysof receipt bytheOwnersoftheManagers’ writtenrequest,oriftheVesselisrepossessedby411
theMortgagee(s).412
(ii)If theOwnersproceedwith theemploymentoforcontinuetoemploytheVesselinthecarriageof413
contraband,blockaderunning,orinanunlawfultrade,oron a voyagewhichinthereasonableopinion414
oftheManagersisunduly hazardousorimproper,theManagersmay givenoticeofthedefaulttothe415
Owners,requiringthemtoremedy itassoonaspracticallypossible.IntheeventthattheOwnersfailto416
remedy itwithin a reasonabletimetothesatisfactionoftheManagers,theManagersshallbeentitled417
toterminatetheAgreementwithimmediateeffectbynotice.418
(iii)IfeitherpartyfailstomeettheirrespectiveobligationsunderSub-clause5(b)(CrewInsurances)and419
Clause 10(InsurancePolicies),theother partymay givenoticetothepartyindefaultrequiringthemto420
remedy itwithin ten(10)days,failingwhich the otherparty mayterminatethisAgreementwithimmediate421
effect bygiving notice to the partyindefault.422
(c)ExtraordinaryTermination423
ThisAgreementshallbedeemedtobeterminatedinthecase ofthesaleoftheVesselor,iftheVessel424
becomes a totallossorisdeclaredas a constructiveorcompromisedorarrangedtotallossorisrequisitioned425
orhasbeendeclaredmissingor,ifbareboatchartered,unless otherwise agreed,when the bareboat charter426
comestoanend.427
(d)ForthepurposeofSub-clause22(c)hereof:428
(i)thedateuponwhichtheVesselistobetreatedashavingbeensoldorotherwise disposedofshallbe429
thedateonwhichtheVessel’sownersceasetobetheregisteredownersoftheVessel;430
(ii)theVesselshallbedeemedtobelosteitherwhenithasbecomeanactualtotal loss oragreementhas431
beenreachedwith theVessel’sunderwritersinrespectofitsconstructivetotallossorifsuchagreement432
with theVessel’sunderwritersisnotreached it isadjudgedby a competenttribunalthat aconstructive433
lossoftheVesselhasoccurred;and434
(iii)thedateuponwhichtheVesselistobetreatedasdeclaredmissingshallbeten(10)daysaftertheVessel435
waslastreportedorwhentheVesselisrecordedasmissingbytheVessel’sunderwriters,whichever436
occursfirst. Amissingvesselshallbedeemedlostinaccordancewith theprovisionsofSub-clause22(d)437
(ii).438
(e)Intheeventthepartiesfailtoagreethe annualbudgetinaccordancewith Sub-clause 13(b), or to agree439
a changeofflaginaccordancewith Sub-clause9(d)(ii),ortoagreeto a reductionintheMangementFeein440
accordancewith Sub-clause12(d), either partymayterminate this Agreement bygiving the other partynot441
lessthanonemonth’snotice,theresultofwhichwill be theexpiry oftheAgreementattheendofthecurrent442
budgetperiodoronexpiry ofthenoticeperiod,whicheveristhelater.443
(f)ThisAgreementshallterminateforthwithintheeventofanorderbeingmadeorresolutionpassed444
forthewindingup,dissolution,liquidationorbankruptcyofeitherparty (otherwisethanforthepurposeof445
reconstructionoramalgamation)orif a receiveroradministratorisappointed,orifitsuspendspayment,446
ceasestocarryonbusinessormakesanyspecialarrangementorcompositionwithitscreditors.447
(g)IntheeventoftheterminationofthisAgreementforanyreasonotherthandefaultbytheManagersthe448
managementfeepayabletotheManagersaccordingtotheprovisionsofClause 12(ManagementFeeand449
Expenses),shallcontinuetobepayablefor a furtherperiodofthenumberofmonthsstatedin Box19as450
fromtheeffectivedateoftermination.If Box19 isleftblankthenninety(90)daysshallapply.451
(h)Inaddition,wheretheManagersprovideCrewfortheVessel in accordancewith Clause5(a)(Crew452
Management):453
(i)theOwnersshallcontinuetopayCrewSupportCostsduringthesaidfurtherperiodofthenumberof454
monthsstatedinBox 19; and455
(ii)theOwnersshallpayanequitableproportionofanySeveranceCostswhichmaybeincurred,not456
exceedingtheamountstatedinBox 20. The Managersshallusetheirreasonableendeavourstominimise457
suchSeveranceCosts.458
(i)On the termination, forwhatever reason, of thisAgreement,theManagersshallreleasetotheOwners,459
ifsorequested,theoriginalswherepossible,orotherwisecertifiedcopies,ofallaccountsandalldocuments460
specificallyrelatingtotheVesselanditsoperation.461
(j)The terminationofthisAgreementshallbewithoutprejudicetoallrightsaccruedduebetweentheparties462
priortothedateoftermination.463
23.BIMCO Dispute Resolution Clause464
(a)ThisAgreementshallbegovernedby andconstrued inaccordance with English lawand anydispute465
arisingoutoforinconnectionwith thisAgreementshallbereferredtoarbitration in Londoninaccordancewith466
theArbitrationAct1996or any statutorymodificationorre-enactmentthereofsavetotheextentnecessary467
togiveeffecttotheprovisionsofthisClause.468
The arbitrationshallbeconductedinaccordancewiththeLondonMaritimeArbitratorsAssociation(LMAA)469
Termscurrent atthetimewhen thearbitrationproceedingsarecommenced.470
The referenceshallbetothreearbitrators. Apartywishingtorefer a disputetoarbitrationshallappointits471
arbitratorandsendnoticeofsuchappointmentinwritingtotheotherpartyrequiringtheotherparty toappoint472
itsownarbitratorwithin14calendardaysofthatnoticeandstatingthatitwillappointitsarbitratorassole473
arbitratorunlesstheotherparty appointsitsownarbitratorandgivesnoticethatithasdonesowithinthe474
14daysspecified.Iftheotherparty doesnotappointitsownarbitratorandgivenoticethatithasdoneso475
withinthe14daysspecified,theparty referring a disputetoarbitrationmay,withouttherequirementofany476
furtherpriornoticetotheotherparty,appointitsarbitratorassolearbitratorandshalladvisetheotherparty477
accordingly. The awardof a solearbitratorshallbebindingonbothpartiesasifhehadbeenappointedby478
agreement.479
Nothinghereinshallpreventthepartiesagreeing inwritingtovarytheseprovisionstoprovideforthe480
appointmentof a solearbitrator.481
IncaseswhereneithertheclaimnoranycounterclaimexceedsthesumofUSD50,000(orsuchothersum482
asthepartiesmayagree)thearbitrationshallbeconductedinaccordancewith theLMAASmallClaims483
Procedurecurrentatthetimewhen thearbitrationproceedingsarecommenced.484
(b)ThisAgreementshallbegovernedby andconstrued in accordancewith Title 9 oftheUnitedStatesCode485
andtheMaritime LawoftheUnitedStatesandany disputearisingoutoforinconnectionwith thisAgreement486
shallbereferredtothreepersonsat NewYork,onetobeappointed by eachofthepartieshereto,andthe487
third bythe two so chosen; their decision or that of anytwoofthemshallbefinal,andforthepurposesof488
enforcingany award,judgmentmaybeenteredonanaward by anycourtofcompetentjurisdiction.The489
proceedingsshallbeconductedinaccordancewith therulesoftheSociety ofMaritimeArbitrators,Inc.490
IncaseswhereneithertheclaimnoranycounterclaimexceedsthesumofUSD50,000(orsuchothersum491
asthepartiesmayagree)thearbitrationshallbeconducted inaccordancewith theShortenedArbitration492
ProcedureoftheSocietyofMaritimeArbitrators,Inc.currentatthetimewhenthearbitrationproceedings493
arecommenced.494
(c)ThisAgreementshall be governedby andconstruedin accordancewith thelawsoftheplacemutually495
agreedby thepartiesandany disputearisingoutoforinconnectionwiththisAgreementshall be referred496
toarbitrationata mutually agreedplace,subjecttotheproceduresapplicablethere.497
(d)NotwithstandingSub-clauses23(a),23(b)or23(c)above, the partiesmayagreeat anytime torefer to498
mediationanydifferenceand/ordisputearisingoutoforinconnectionwiththisAgreement.499
(i)Inthecaseof a disputeinrespectof whicharbitrationhasbeencommencedunderSub-clauses23(a),500
23(b)or23(c)above,thefollowingshallapply:501
(ii)Either partymayat anytime and from time to timeelect to refer the dispute or part of the dispute to502
mediationby serviceontheotherparty of a writtennotice(the“MediationNotice”)callingontheother503
partytoagreetomediation.504
(iii)The otherpartyshallthereuponwithin 14calendardaysofreceiptoftheMediationNoticeconfirmthat505
they agreetomediation,inwhichcasethepartiesshallthereafteragree amediatorwithin a further14506
calendardays,failingwhichontheapplicationofeitherparty a mediatorwillbeappointedpromptlyby507
theArbitrationTribunal(“theTribunal”)orsuchpersonastheTribunalmaydesignateforthatpurpose.508
The mediationshallbeconductedinsuchplaceandinaccordancewithsuchprocedureand on such509
termsasthepartiesmay agreeor,intheeventofdisagreement, as maybe set bythemediator.510
(iv)Ifthe other partydoesnot agree to mediate, thatfact maybe brought to the attention of the Tribunal511
andmaybetakenintoaccountbytheTribunalwhenallocatingthecostsofthearbitrationasbetween512
theparties.513
(v)The mediationshallnotaffecttherightofeitherparty toseeksuchreliefortakesuchstepsasitconsiders514
necessaryto protect its interest.515
(vi)Either partymayadvisethe Tribunal that theyhaveagreedtomediation. The arbitrationprocedureshall516
continueduringtheconductofthemediationbuttheTribunalmaytakethemediationtimetableinto517
accountwhensettingthetimetableforstepsinthearbitration.518
(vii)Unlessotherwise agreedorspecified in themediationterms,eachpartyshallbearitsowncostsincurred519
inthemediationandthepartiesshallshareequallythemediator’scostsandexpenses.520
(viii)The mediationprocessshallbewithoutprejudiceandconfidentialandnoinformationordocuments521
disclosedduringitshallberevealedtotheTribunalexcepttotheextentthattheyare disclosableunder522
the lawandproceduregoverningthearbitration.523
(Note:Thepartiesshouldbeawarethatthe mediationprocessmaynotnecessarilyinterrupttimelimits.)524
(e)IfBox21 in Part I is not appropriatelyfilled in, Sub-clause 23(a)ofthisClauseshallapply.525
Note:Sub-clauses23(a),23(b)and 23(c)are alternatives;indicatealternativeagreed inBox21. Sub-clause526
23(d)shallapplyinallcases.527
24.Notices528
(a)All notices given byeither partyor theiragents totheother partyor their agents in accordancewith the529
provisionsofthisAgreementshallbeinwritingandshall,unlessspecificallyprovidedinthisAgreementto530
thecontrary,besenttotheaddressforthatotherparty assetoutinBoxes 22 and23orasappropriateor531
tosuchotheraddressastheotherparty maydesignate in writing.532
A noticemaybesentbyregisteredorrecordedmail,facsimile,electronicallyordeliveredby handinaccordance533
with thisSub-clause24(a).534
(b)AnynoticegivenunderthisAgreementshalltakeeffectonreceiptbytheotherparty andshallbedeemed535
tohavebeenreceived:536
(i)ifposted, ontheseventh(7th)day afterposting;537
(ii)if sent byfacsimile or electronically, on the dayof transmission; and538
(iii)ifdeliveredbyhand,ontheday ofdelivery.539
Andineachcaseproofofposting,handinginortransmissionshallbeproofthatnoticehasbeengiven,540
unlessproventothecontrary.541
25.EntireAgreement542
ThisAgreementconstitutestheentireagreementbetweenthepartiesandnopromise,undertaking,543
representation,warranty orstatementby eitherpartypriortothedatestatedin Box2shall affect this544
Agreement.AnymodificationofthisAgreementshallnotbeofanyeffectunless inwritingsigned by or on545
behalfoftheparties.546
26.Third PartyRights547
Except to the extent provided in Sub-clauses17(c) (Indemnity)and 17(d)(Himalaya),nothirdpartiesmay548
enforce anyterm of this Agreement.549
27.PartialValidity550
IfanyprovisionofthisAgreementisorbecomesorisheldby anyarbitratororothercompetentbody tobe551
illegal,invalid or unenforceableinanyrespectunderany laworjurisdiction,theprovisionshallbedeemed552
tobeamendedtotheextentnecessary toavoidsuchillegality,invalidityorunenforceability,or,ifsuch553
amendmentisnotpossible,theprovisionshallbedeemedtobedeletedfromthisAgreementtotheextent554
ofsuchillegality,invalidity orunenforceability,andtheremainingprovisionsshallcontinueinfullforceand555
effectandshallnotinanywaybeaffectedorimpairedthereby.556
28.Interpretation557
In this Agreement:558
(a)Singular/Plural559
The singularincludesthepluralandviceversaasthecontextadmitsorrequires.560
(b)Headings561
The indexandheadingstotheclausesandappendicestothisAgreementareforconvenienceonly andshallnotaffect562
its construction or interpretation.563
(c)Day564
“Day” means a calendar dayunless expresslystated to the contrary.565
NameofVessel(s):ParticularsofVessel(s):
DetailsofCrew:
NumbersRankNationality
DateofAgreement:
Managers´initialbudgetwitheffectfrom thecommencementdateofthisAgreement(seeBox2):
NOTE: PARTIES SHOULD BE AWARE THAT BY COMPLETING THIS ANNEX “D” THEY WILL BE SUBJECT TO THE PROVISIONS OFSUB-CLAUSE 22(b)(i)OF THIS AGREEMENT.
DateofAgreement:
DetailsofAssociatedVessels: