My Bubu

Written by the charter company, in its own words and language. navi-gate is not a party to them.

TERMS OF PAYEMENT First instalment (50% total price, h.b. or f.b. included): at the moment of reservation Second instalment (50% total price, h.b. or f.b. included): within 30 days before commencement of the Charter Period DELAYS IN DELIVERY a) If, by reason of force majeure (as defined below), the OWNER fails to deliver the Vessel to the CHARTERER at the Port of Delivery at the commencement of the Charter Period and delivery is made within forty-eight (48) hours of the scheduled commencement date, or within one tenth (1/10th) of the Charter period, whichever period is the shorter, the OWNER shall pay to the CHARTERER a refund of the Charter Fee at a pro rata daily rate or if it be mutually agreed the OWNER shall allow a pro rata extension of the Charter period. FAILURE TO DELIVER b) If by reason of force majeure the OWNER fails to deliver the Vessel within forty-eight (48) hours or a period equivalent to one-tenth (1/10th) of the Charter Period, whichever period is the shorter, from the due time of delivery, the CHARTERER shall be entitled to treat this Agreement as terminated. The CHARTERER’s exclusive remedy will be to receive repayment without interest of the full amount of payments made by him to the OWNER or Stakeholder. Alternatively, if the parties mutually agree, the Charter Period shall be extended by a time equivalent to the delay. c) If the OWNER fails to deliver the Vessel at the Port of Delivery at the commencement of the Charter Period other than by reason of force majeure; the CHARTERER shall be entitled to treat this Agreement as repudiated by the OWNER. The CHARTERER will be entitled to full repayment and liquidated damages of an amount equivalent to fifty percent (50%) of the Charter Fee by the OWNER. CANCELLATION BY OWNER d) If prior to the commencement of the Charter Period as set out in Page One of this Agreement, the OWNER tenders notice of cancellation via the Broker and if the cancellation is by reason of force majeure, the remedy in (b) above shall apply. e) If the cancellation is for any reason, other than force majeure, the CHARTERER shall be entitled to repayment without interest of the full amount of all payments made by him to the OWNER or Stakeholder, and shall in addition be entitled to liquidated damages to be calculated and paid forthwith on the following scale: i) thirty (30) days or more before commencement of the Charter Period, an amount equivalent to twenty five percent (25%) of the Charter Fee. ii) more than fourteen (14) days but less than thirty (30) days before commencement of the Charter Period, an amount equivalent to thirty five percent (35%) of the Charter Fee. iii) fourteen (14) days or less before commencement of the Charter Period, an amount equivalent to fifty percent (50%) of the Charter Fee. DELAYS IN RE-DELIVERY a) If re-delivery of the Vessel is delayed by reason of force majeure, re-delivery shall be affected as soon as possible thereafter and in the meantime the conditions of this Agreement shall remain in force but without penalty or additional charge against the CHARTERER. b) If the CHARTERER fails to re-deliver the Vessel to the OWNER at the Port of Re-Delivery due to intentional delay or change of itinerary against the Captain’s advice, then the CHARTERER shall pay forthwith to the OWNER by direct telegraphic transfer via the Broker/Stakeholder’s Account demurrage at the daily rate plus forty percent (40%) of the daily rate, and if delay in re-delivery exceeds twenty-four (24) hours, the CHARTERER shall be liable to indemnify the OWNER for any loss or damage which the OWNER shall suffer by reason of deprivation of use of the Vessel or cancellation of, or delay in delivery under any subsequent charter of the Vessel. CANCELLATIONS BY CHARTERER a) Should the CHARTERER give notice of cancellation of this Agreement on or at any time before the commencement of the Charter Period the CHARTERER shall remain liable for all payments due to the OWNER prior to and unpaid at the date of cancellation. Should notice of cancellation be given by the CHARTERER or should the CHARTERER fail after having been given notice to pay any amount due under this Agreement, the OWNER shall be entitled to treat this Agreement as having been repudiated by the CHARTERER and to retain the full amount of all payments. Notwithstanding the OWNER’s right to receive or retain all payments referred to above, the OWNER shall be under a duty to mitigate his loss and in the event that the OWNER is able to re-let the Vessel for all or part of the Charter Period under this Agreement, the OWNER will give credit for the net amount of charter hire arising from the re-letting after deduction of all commissions and other consequential expenses arising from such re-letting. The intention is that the OWNER shall receive the same in net proceeds from any re-letting as would have been received under this Agreement. The OWNER shall use his best endeavours to re-let the Vessel and shall not unreasonably withhold his agreement to re-let, although charters which may reasonably be considered detrimental to the Vessel, its reputation, its crew, or its schedule may be refused. b) If prior to the date of cancellation, the Vessel has taken on provisions for the Charter, or has utilised the Delivery/Redelivery Fee as set out on Page One of this Agreement, then the CHARTERER shall pay for these expenses unless all or part can either be refunded by the supplier or transferred to the next charter, in which case they shall be adjusted accordingly. The Captain and OWNER shall be under a duty to mitigate these expenses where possible. c) If, after signature of this Agreement, the OWNER is adjudged bankrupt or, in the case of a company, a liquidator, receiver or administrator is appointed over all or part of the OWNER’s assets, the CHARTERER shall be entitled to cancel the Charter and all monies paid to the OWNER, his agent, or the Stakeholder pursuant to this Agreement shall be refunded without deduction. BREAKDOWN OR DISABLEMENT If after delivery the Vessel shall at any time be disabled by breakdown of machinery, grounding, collision or other cause so as to prevent reasonable use of the Vessel by the CHARTERER for a period between twelve (12) and forty-eight (48) consecutive hours or one tenth of the Charter Period, whichever is the shorter (and the disablement has not been brought about by any act or default of the CHARTERER) the OWNER shall make a pro rata refund of the Charter Fee for the period of the disablement or, if mutually agreed, allow a pro rata extension of the Charter Period corresponding with the period of disablement. If the CHARTERER wishes to invoke this clause, he shall give immediate notice in writing to the Captain. The CHARTERER shall remain liable for normal expenses during the period of disablement. In the event of the actual or constructive total loss of the Vessel or if the Vessel is disabled as aforesaid for a consecutive period of more than forty-eight (48) hours or one tenth of the Charter Period, whichever is shorter, the CHARTERER may terminate this Agreement by notice in writing to the OWNER or the Broker(s) or to the Captain if no means of communication is available. As soon as practicable after such termination the Charter Fee shall be repaid by the OWNER pro rata without interest for that proportion of the Charter Period outstanding after the date and time on which the loss or disablement occurred. In the event of such termination the CHARTERER may affect redelivery by giving up possession of the Vessel where she lies. The CHARTERER shall be entitled to recover from the OWNER the reasonable cost of returning the charter party to the port of re-delivery by scheduled services together with reasonable accommodation expenses incurred. Alternatively, after a consecutive period of disablement of more than forty-eight (48) hours or one tenth of the Charter Period, whichever the shorter, and dependent on the nature and seriousness of the disablement, by mutual agreement the Charterer may elect to remain on board for the duration of the Charter Period and the CHARTERER will then have no further or additional claim against the OWNER. FORCE MAJEURE In this Agreement ‘force majeure’ means any cause directly attributable to acts, events, non-happenings, omissions, accidents or Acts of God beyond the reasonable control of the OWNER or the CHARTERER (including, but not limited to, strikes, lock-outs or other labor disputes, civil commotion, riots, blockade, invasion, war, fire, explosion, sabotage, storm, collision, grounding, fog, governmental act or regulation, major mechanical or electrical breakdown beyond the crew’s control and not caused by OWNER’s negligence). Crew changes do not constitute force majeure. Force majeure does not excuse the OWNER from payment of commissions.