NSF93MOA sample.docx
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NSF93MOA sample.docx
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NSF93MOAsample
FORMOF
MEMORANDUMOFAGREEMENT
Original
MEMORANDUMOFAGREEMENT
NorwegianShipbroker’sAssociation’sMemorandumofAgreementforsaleandpurchaseofships. AdoptedbyTheBalticandinternationalMaritimeCouncil(BIMCO)in1956.
Code-name
SALEFORM1993
Revised1966,1983and1986/87.
Dated:
______________________________
_______________________________________
hereinaftercalledtheSellers,haveagreedtosell,and
1
___________________________________________________ ,TrustCompanyComplex,AjeltakeRoad,AjeltakeIsland,Majuro,MarshallIslandsMH96960
hereinaftercalledtheBuyers,haveagreedtobuythe
2
Name:
__________________________________________
3
ClassificationSociety/Class:
4
Built:
By:
5
Flag:
PlaceofRegistration:
6
Callsign:
Grt/Nrt:
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RegisterNumber:
8
hereinaftercalledtheVessel,onthefollowingtermsandconditions:
9
Definitions
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"Bankingdays"aredaysonwhichbanksareopenbothinthecountryofthecurrency.
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StipulatedforthePurchasePriceinClause1andintheplaceofclosingstipulatedinClause8.
12
"inwriting"or"written"meansaletterhandedoverfromtheSellerstotheBuyersorviceversa,
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aregisteredletter,telex,telefaxorothermodernformofwrittencommunication
14
"ClassificationSociety"or"Class"meanstheSocietyreferredtoinline4
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1.
PurchasePrice:
USD_______________________________________cashondelivery,withoutanydeductionsintoSellers'nominated bankaccountwithSellersnominatedfirstclassinternationalbank
16
2.
Deposit
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AssecurityforthecorrectfulfilmentofthisAgreementtheBuyersshallpayadepositof10%
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(tenpercent)ofthePurchasePricewithin3(three)bankingdaysafterallsubjectsliftedandaftersigningafaxcopybybothBuyersandSellersofthisAgreement.
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ThisdepositshallbeplacedwithSellersnominatedinternational1stclassbank,
20
andheldbytheminaninterestbearingjointaccountfortheSellersandtheBuyers,tobereleasedinaccordance
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withjointwritteninstructionsoftheSellersandtheBuyers. Interest,ifany,tobecreditedtothe
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Buyers.
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AnyfeechargedforholdingthesaiddepositshallbeborneequallybytheSellersandthe Buyers.
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3.
Payment
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ThesaidPurchasePriceshallbepaidinfullfreeofbankchargestoSellersaccountwithSellerssamenominatedinternational15tclassbankasperCl.2
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ondeliveryoftheVessel,butnotlaterthan3bankingdaysaftertheVesselisineveryrespect
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physicallyreadyfordeliveryinaccordancewiththetermsandconditionsofthis
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AgreementandNoticeofReadinesshasbeengiveninaccordancewithClause5.
29
4.
Inspections
25
a)*
TheBuyershaveinspectedandacceptedtheVessel'sclassificationrecords. TheBuyers
31
havealsoinspectedtheVesselat/in __________________ on____________________
32
andhaveacceptedtheVesselfollowingthisinspectionandthesaleisoutrightand
33
definite,subjectonlytothetermsandconditionsofthisAgreement.
34
b)*
TheBuyersshallhavetherighttoinspecttheVessel'sclassificationrecordsanddeclare
35
whethersameareacceptedornotwithinMarch18th,2005
36
TheSellershallprovideforinspectionoftheVesselat/inCristobalon10thMarch05
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TheBuyersshallundertaketheinspectionwithoutunduedelaytotheVessel. Shouldthe
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BuyerscauseunduedelaytheyshallcompensatetheSellersforthelossestherebyincurred.
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TheBuyersshallinspecttheVesselwithoutopeningupandwithoutcosttotheSellers
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Duringtheinspection,theVessel'sdeckandenginelogbooksshallbemadeavailablefor
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examinationbytheBuyers. IftheVesselisacceptedaftersuchinspection,thesaleshall
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becomeoutrightanddefine,subjectonlytothetermsandconditionsofthisAgreement,
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providedtheSellersreceivewrittennoticeofacceptancefromtheBuyerswithin72hours
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aftercompletionofsuchinspection. March18th,2005
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ShouldnoticeofacceptanceoftheVessel'sclassificationrecordsandoftheVesselnotbe
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receivedbytheSellersasaforesaid,thedeposittogetherwithinterestearnedshallbe
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releasedimmediatelytotheBuyers,whetherthisAgreementshallbenullandvoid.
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4a)and4b)arealternatives;deletewhicheverisnotapplicable. Intheabsenceof
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deletions,alternative4a)toapply.
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5.
Notices,timeandplaceofdelivery
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a)
TheSellersshallkeeptheBuyerswellinformedoftheVessel'sitineraryandshall
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providetheBuyerswith21,15,10,7and5daysnoticeoftheestimatedtimeofarrivalat
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theintendedplaceofdrydocking/underwaterinspection/deliveryand3,2,1daysdefinitenoticesofthedateSellersexpectthevesseltobereadyfordelivery. Intendeddeliveryporttobenominatedconcurrentlywiththe15thand7thdaysnotices. When
54
theVesselisattheplaceofdeliveryandineveryrespectphysicallyreadyfordeliveryin
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accordancewiththisAgreement,theSellersshallgivetheBuyersawrittenNoticeofReadinessfordelivery.
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b)
TheVesselshallbedeliveredandtakenoverfreeofcargoandchartersafelyafloatatasafeandaccessibleportorberthoranchorageat/in
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Euromed,UKCont,incl.BalticSea,Caribs,USAC,USG,USWC,ECC
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areaintheSellers'optionoranyothersafeport/berthasmutuallyagreed.
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Expectedtimeofdelivery:
Thevesselshallbe between ___________________________ inSeller'soption
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Dateofcancelling(seeClauses5c),6b)(iii)and14):
June15th2005inBuyers'option
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c)
IftheSellersanticipatethat,notwithstandingtheexerciseofduediligencebythem,the
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VesselwillnotbereadyfordeliverybythecancellingdatetheymaynotifytheBuyersin
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writingstatingthedatewhentheyanticipatethattheVesselwillbereadyfordeliveryand
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proposeanewcancellingdate.UponreceiptofsuchnotificationtheBuyersshallhavethe
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optionofeithercancellingthisAgreementinaccordancewithClause14within7running
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daysofreceiptofthenoticeorofacceptingthenewdateasthenewcancellingdate. Ifthe
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Buyershavenotdeclaredtheiroptionwithin7runningdaysofreceiptoftheSellers'
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notificationoriftheBuyersacceptthenewdate,thedateproposedintheSellers'
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notificationshallbedeemedtobethenewcancellingdateandshallbesubstitutedfor
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thecancellingdatestipulatedinline61.
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IfthisAgreementismaintainedwiththenewcancellingdateallothertermsandconditions
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hereofincludingthosecontainedinClauses5a)and5c)shallremainunalteredandinfull
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forceandeffect.Cancellationorfailuretocancelshallbeentirelywithoutprejudicetoany
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claimfordamagestheBuyersmayhaveunderClause14fortheVesselnotbeingreadyby
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Theoriginalcancellingdate
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d)
ShouldtheVesselbecomeanactual,constructiveorcompromisedtotallossbefore
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deliverythedeposittogetherwithinterestearnedshallbereleasedimmediatelyto
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theBuyerswhereafterthisAgreementshallbenullandvoid
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6.
Drydocking/DiversInspection
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a)**
TheSellershallplacetheVesselindrydockattheportofdeliveryforinspectionbythe
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ClassificationSocietyoftheVessel'sunderwaterpartsbelowthedeepestloadline,the
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extentoftheinspectionbeinginaccordancewiththeClassificationSociety'srules. Ifthe
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rudder,propeller,bottomorotherunderwaterpartsbelowthedeepestloadlinearefound
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broken,damagedordefectivesoastoaffecttheVessel'sclass,suchdefectsshallbemade
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goodattheSellers'expensetothesatisfactionoftheClassificationSocietywithout
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condition/recommendation*.
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b)**
(i) TheVesselistobedeliveredwithoutdrydocking.However,theBuyersshall
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havetherightattheirexpensetoarrangeforanunderwaterinspectionbyadiverapproved
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bytheClassificationSocietypriortothedeliveryoftheVessel.TheSellersshallattheir
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costmaketheVesselavailableforsuchinspection.Theextentoftheinspectionandthe
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conditionsunderwhichitisperformedshallbetothesatisfactionoftheClassification
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Society.Iftheconditionsattheportofdeliveryareunsuitableforsuchinspection,the
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SellersshallmaketheVesselavailableatasuitablealternativeplaceneartothedelivery
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port.
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(ii) Iftherudder,propeller,bottomorotherunderwaterpartsbelowthedeepestload
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linearefoundbroken,damagedordefectivesoastoaffecttheVessel'sclass,thenunless
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repairscanbecarriedoutafloattothesatisfactionoftheClassificationSociety,theSellers
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shallarrangefortheVesseltobedrydockedattheirexpenseforinspectionbythe
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ClassificationSocietyoftheVessel'sunderwaterparts-belowthedeep
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