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Tripartite Meeting Seoul Friday/Saturday 15/16 September 2006 NEWBUILDING CONTRACT PRESENTATION.

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Presentation on theme: "Tripartite Meeting Seoul Friday/Saturday 15/16 September 2006 NEWBUILDING CONTRACT PRESENTATION."— Presentation transcript:

1 Tripartite Meeting Seoul Friday/Saturday 15/16 September 2006 NEWBUILDING CONTRACT PRESENTATION

2 Seoul, 15/16 September 2006 INTRODUCTION Our documentary expertise Who is involved in the Project

3 PROJECT TEAM Steering Committee Nils Gustaf Palmgren (Chairman) Finland Georg Scheel Nordisk Norway Daniel Evans Thomas Miller UK David Taylor International Underwriters Association (IUA) Nominee China Shipbuilders China Hiroshi Sugiura NYK Japan Amund Skou IACS James Mason Wellington Underwriters UK A A Spyrantis Sun Enterprises Ltd Greece Rajeev Philips INTERTANKO 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 Seoul, 15/16 September 2006

4 MISSION STATEMENT Objectives Clarity Balance Harmonisation Seoul, 15/16 September 2006

5 DRAFT NO. 1 Status Box Layout Structure Seoul, 15/16 September 2006

6 DRAFT NO. 1 - STRUCTURE NEWBUILDINGCONTRACT PREAMBLEDEFINITIONS1. VESSEL2. FINANCIAL 3. PRODUCTION 4. DELIVERY5. LEGAL6. SUNDRYANNEXES Seoul, 15/16 September 2006

7 SECTION 1 – DESCRIPTION & CLASS SECTION 1 VESSEL Description Classification Rules and Regulations Green Passport Seoul, 15/16 September 2006

8 SECTION 2 - FINANCIAL SECTION 2 FINANCIAL Contract Price Speed Deficiency Excessive Fuel Consumption Deadweight Deficiency Cubic Capacity Deficiency Late Delivery GuaranteesPayments Taxes and Duties Right to set-off Interest Seoul, 15/16 September 2006

9 SECTION 3 - PRODUCTION SECTION 3 PRODUCTION Sub-contractingApprovals Buyer’s Supplied Items Buyer’s Representative Inspections Tests and Trials Modifications and changes Substitution of Materials Changes in Rules and Regulations Sea Trial Seoul, 15/16 September 2006

10 SECTION 4 - DELIVERY SECTION 4 DELIVERY Delivery Final Instalment Documents on Delivery Title and Risk Possession and Removal Vessel Registration Seoul, 15/16 September 2006

11 SECTION 5 - LEGAL SECTION 5 LEGAL Permissible Delays Builder’s Guarantee Engineer Other Responsibilities Insurances Suspension and Termination Copyrights & Patents Jurisdiction & Dispute Resolution Seoul, 15/16 September 2006

12 SECTION 6 - SUNDRY SECTION 6 SUNDRY Notices Effective date of Contract AssignmentOptions Entire Agreement Third Party Rights Seoul, 15/16 September 2006

13 ANNEXES Annex A Work Variation Form Annex B Specification Annex C Guarantees Annex D Tariff for Modifications Annex E Maker’s List Seoul, 15/16 September 2006

14 CONCLUSION Consultation process Shipyard involvement Target completion date Seoul, 15/16 September 2006

15 STANDARD SHIPBUILDING CONTRACT Seoul, 15/16 September 2006


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