Ship Management Masterclass - Singapore
Contracts and other obligations
BIMCO and CBS Executive have jointly developed a series of six courses which will be delivered in various locations around the world. This is the first module out of six modules.
Ship Management relies on a wide range of contracts to regulate the relationship between the manager, the ship owner and third party suppliers and customers. This calls for a thorough knowledge and expertise in assessing the obligations since Ship Managers are seen to fulfill a wide range of functions normally associated with the owner, acting both as an agent for and on behalf of the owner or as a separate legal entity, contracting for their own account. In reality, it is complicated and problems may emerge if the authority and liability is not sufficiently precise. This course aims to provide the participants with a clear understanding of the pitfalls and challenges in contracting as a ship manager. Furthermore, the course will discuss and explore the impact of the ISM and ISPS Codes.
The course consists of 3 days training
Contracts & commercial aspects
- Principles of contract law and their relevance to the ship management agreements
- Dealing with disputes under ship management agreements
- General overview of the most commonly used contracts in the ship management sector with focus on their similarities and differences
- Case study 1
- SHIPMAN – Introduction
- Section 1 – Basics of the agreement
- Section 2 – Services
- Section 3 – Obligations and responsibilities
- Section 4 – Insurance, budgets, income, expenses and fees
- Management fees and expenses
- Section 5 – Legal, general and duration of agreement
Problems & solutions
- Authority of the managers “as agents to owners”
- Case Study SHIPMAN
- The legal relationship between owner and manager
- Assessment for all participants
- Wrap up
This course will be of value to ship management professionals as well as to senior managers in ship management, shipowning and ship operations who wish to increase their understanding of the vital role of marine insurance and salvage.