LEGAL EAGLES
FEATURE SPONSOR
AVOIDING PITFALLS WITH PROPER LEGAL ADVICE
The commissioning of a new build crew transfer vessel or the acquisition of a pre-owned vessel can be an exciting time for all concerned
However, as Andrew Oliver, head of renewable energy at law firm Andrew Jackson Solicitors LLP, points out, it pays to take proper legal advice to avoid common pitfalls whilst ensuring that the best possible legal redress and solutions are readily available.
NEW BUILD VESSELS It is essential for any prospective owner to thoroughly do their homework on proposed builders, particularly given the considerable commercial investment. Generally delivery should be requested for as soon as possible, although if a yard can meet an early delivery date that should immediately sound alarm bells, especially if its competitors have full
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order books. A thorough investigation of a yard’s previous work should be undertaken, together with references requested and a robust check carried out on the company’s commercial status. This can be done through credit reference agencies and also by a thorough examination of the company’s records at Companies House, which is a free service for companies registered in the UK. If commissioning a build overseas then a marketing intelligence agency could be approached; even a simple Google search may be better than nothing.
SHIP BUILD CONTRACTS It is essential that before a commitment
is made that a full and proper specification be drawn up, together with appropriate plans all tied into an appropriate ship building contract. There are a number of ship building contracts available such as the BIMCO Newbuildcon, as well as the Association of Western European Shipbuilders’ (AWES) contracts. These tend to be neutral contracts which can be adapted to specific needs. A shipyard may have variations of these contracts in place, which are generally modified in its favour.
It is therefore vital that legal advice is taken to ensure that the buyer is protected, for instance, when title to
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