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PAGE
SHIPBUILDING CONTRACT
FOR
CONSTRUCTION OF ONE ____________________________
(HULL NO. ______)
BETWEEN
_______________________
as BUYER
and
_______
as SELLER
Shipbuilding Contract Hull No._____
PAGE III
Date: _th _______, 200_
CONTENTS
ARTICLE Page No.
TOC \o 1-2 ARTICLE I DESCRIPTION AND CLASS 2
1. DESCRIPTION: 2
2. CLASS AND RULES 2
3. PRINCIPAL PARTICULARS AND DIMENSIONS OF THE VESSEL 3
4. GUARANTEED SPEED 3
5. GUARANTEED FUEL CONSUMPTION 3
6. GUARANTEED DEADWEIGHT 4
7. SUBCONTRACTING: 4
8. REGISTRATION: 4
ARTICLE II CONTRACT PRICE TERMS OF PAYMENT 5
1. CONTRACT PRICE: 5
2. CURRENCY: 5
3. TERMS OF PAYMENT: 5
4. METHOD OF PAYMENT: 6
5. PREPAYMENT: 8
6. SECURITY FOR PAYMENT OF INSTALMENTS BEFORE DELIVERY: 8
7. REFUNDS 9
ARTICLE III ADJUSTMENT OF THE CONTRACT PRICE 10
1. DELIVERY 10
2. INSUFFICIENT SPEED 12
3. EXCESSIVE FUEL CONSUMPTION 13
4. DEADWEIGHT 14
5. EFFECT OF RESCISSION 15
ARTICLE IV SUPERVISION AND INSPECTION 16
1. APPOINTMENT OF THE BUYERS SUPERVISOR 16
2. COMMENTS TO PLANS AND DRAWINGS 16
3. SUPERVISION AND INSPECTION BY THE SUPERVISOR 17
4. LIABILITY OF THE SELLER 18
5. SALARIES AND EXPENSES 18
6. REPLACEMENT OF SUPERVISOR 18
ARTICLE V MODIFICATION,CHANGES AND EXTRAS 19
1. HOW EFFECTED 19
2. CHANGES IN RULES AND REGULATIONS, ETC. 19
3. SUBSTITUTION OF MATERIALS AND/OR EQUIPMENT 21
4. BUYERS SUPPLIED ITEMS 21
ARTICLE VI TRIALS 22
1. NOTICE 22
2. HOW CONDUCTED 23
3. TRIAL LOAD DRAFT 23
4. METHOD OF ACCEPTANCE OR REJECTION 24
5. DISPOSITION OF SURPLUS CONSUMABLE STORES 25
6. EFFECT OF ACCEPTANCE 25
ARTICLE VII DELIVERY 27
1. TIME AND PLACE 27
2. WHEN AND HOW EFFECTED 27
3. DOCUMENTS TO BE DELIVERED TO THE BUYER 27
4. TITLE AND RISK 29
5. REMOVAL OF VESSEL 29
6. TENDER OF TH
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