Ruling Ship Sale Purchase NSF93 Made by: Group Exavator
NSF93 Ruling Ship Sale & Purchase Made by: Group Exavator
Guideline Essentials Introductio of an A landmark Conclusion n S&P case contract
Introductio n Essentials of an S&P contract A landmark case Conclusion Guideline
Introduction .Buying Selling of second -hand ships are done using standard form contracts SALE FORMS .Only 2 Sale Forms in existence (Norwegian Nippon Sale Forms) Norwegian (NSF)-1993 version Nippon (Ni SF)-1999 version
Introduction •Buying & Selling of second ‐hand ships are done using standard form contracts SALE FORMS •Only 2 Sale Forms in existence (Norwegian & Nippon Sale Forms) Norwegian (NSF)‐ 1993 version Nippon (Ni SF)‐ 1999 version
Essentials of an S&P deal Parties (Sellers Buyers) Subject matter of sale (Vessel) .Consideration for the sale (purchase price) Conditions of sale dated signed CONTRACT
Essentials of an S&P deal • Parties (Sellers & Buyers) • Subject matter of sale (Vessel) •Consideration for the sale (purchase price) • Conditions of sale dated & signed CONTRACT
Sale Contract Once the contract is in place; Buyers pays deposit (10%) Buyers agrees to pay the full purchase price Buyers inspects the ship responds Buyers starts processes for ship registration use
Sale Contract Once the contract is in place; • Buyers pays deposit (10%) • Buyers agrees to pay the full purchase price • Buyers inspects the ship & responds • Buyers starts processes for ship registration & use