Copenhagen: Shipmanagement executives with input from key insurance and legal representatives are developing a new standard supervision contract for newbuildings and conversions. The contract will use elements of existing BIMCO contracts, such as SHIPMAN and LAYUPMAN, with key provisions and wordings taken from NEWBUILDCON.
The intention is to simplify the process so it can work well in the majority of shipbuilding, repair and conversion supervision scenarios, taking into account the widespread use of third party management services.
Bimco says the new SUPERMAN supervision contract, as with SHIPMAN and LAYUPMAN, is an agency agreement with the scope of the managers’ authority determined by and limited to the agreed services.
A first draft will be presented to BIMCO’s Documentary Committee in June, with the new agreement expected to publish by the end of the year.