BIMCO contracts experts approve new SALEFORM

At the autumn meeting of the BIMCO Documentary Committee held in Copenhagen on 10 November the newly revised edition of the SALEFORM agreement for the sale and purchase of second-hand ships was approved for publication.

The new edition will be called SALEFORM 2012 and will be published along with detailed explanatory notes this coming January.
The revision of this widely used international agreement has been a year in the making. The final draft follows a series of industry consultations that took place in Oslo, London and Singapore in September and October which drew large numbers of participants and an equally large number of useful comments and suggestions.

SALEFORM 2012 reflects what the industry has told BIMCO it wants in a new edition of the sale agreement. It is a modest revision, but one which incorporates many of the amendments commonly made to the form when used. As such it provides an up to date contract for the industry, bringing greater clarity to those provisions in the 1993 edition which occasionally led to uncertainty.

BIMCO is confident that the industry will warmly welcome SALEFORM 2012 as a much improved version of this tried and tested international sales agreement.

(Source: Bimco)