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BIMCO introduces newbuilding contract to Asia

BIMCO introduces newbuilding contract to Asia

Singapore: Shipping association BIMCO is hosting an Asian seminar here in Lion City this week to explain and field questions on its NEWBUILDCON Standard Newbuilding Contract.
BIMCO says NEWBUILDCON, issued last October, is the first standardised, neutral and clearly worded international shipbuilding contract to be developed. It is the product of two years' intensive drafting work by a team of lawyers with expertise in representing the interests of both builders and buyers, and is claimed to offer clear wording, logical structure and comprehensive details in its provisions.

The seminar will take place at the Shangri-La Hotel in Singapore between 1000 and 1600 on Thursday Janurary 31. Four of the members of the original team that drafted the document will present key aspects of the contract and how it compares to other forms in current use. The speakers will be Nils-Gustaf Palmgren who was chairman of the drafting team, Chris Hilton of UK based law firm Eversheds LLP, Chris Kidd of law firm Ince & Co and Soren Larsen, Deputy Secretary General of BIMCO. All participants will have the opportunity to ask the panel questions and discuss issues.
Already more than 50 high ranking participants from all over Asia have given notice of attendance, including shipowners, yards, laywers, bankers and brokers.  [28/01/08]

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