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The new Singapore Ship Sale Form

For those looking to purchase or sell a ship, there is a new option available to rival the commonly used Norwegian Sale Form (NSF) and the Nippon Ship Sale Form. The NSF has been the ship sale contract of choice for ship owners, brokers and lawyers since its adoption by the Baltic and Maritime Council (BIMCO) in 1956. Since then it has been amended and updated four times, most recently in 1993. The NSF is currently the clear market standard for the vast majority of ship sale transactions.

As part of its continued drive to promote itself as both a shipping and an international dispute resolution centre, the Singapore Maritime Foundation launched the Singapore Ship Sale Form (SSF) on 6 January 2011. The SSF is the culmination of an initiative commissioned by the Singapore Maritime Foundation (SMF) in 2008 to research and draft a new ship sale form.

This is only an excerpt of The new Singapore Ship Sale Form

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Written by: | Categories: Asia | January 28th, 2011 |

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