GENCON is a standard voyage charter party. It is a general purpose agreement for the services of a ship in exchange for freight and can be used in a variety of. Gencon, Charter Party, Chartering agreement. and particularly known also as “ Gencon ”. Gencon, first issued in and revised in and The GENCON (General Charter Conditions) charter party is the most common Due to this same reason, Owners usually prefer to go with the Gencon 94 form.
|Published (Last):||25 August 2011|
|PDF File Size:||17.44 Mb|
|ePub File Size:||16.2 Mb|
|Price:||Free* [*Free Regsitration Required]|
The Risk of GENCON
Another clause which is extended in Gencon 94 is the lien clause which now includes also the lien on sub-freights to cover the cases the vessel is sub-chartererd. With our experience in the shipping industry, on board ships, in ship operation or in commodity trade, you benefit from our hands-on and pro-active mentality and approach. Therefore, which of the two charter parties will be used is usually a point of negotiation between the parties.
This wording was not included in Gencon 76 and gives some defense to Owners in case something goes wrong with the bill of lading holder. In most Charter Parties the vessel is directed to 1 gsbaaaa 1 sp … ; 1 good safe berth always accessible always afloat 1 safe port ….
Follow us on social media. The most frequent claims are damage to hull and cargo claims, however, third party liability like personal injury or worse and pollution are also real risks; exposures, which can run charrer millions of dollars. We have a dedicated team of specialists who have genncon track record and a long-standing experience and reputation in Charterers Liability. Clause 12 of Gencon 76 limits the indemnity for non performance of the charter party up to the amount of estimated freight.
Like what you’re reading?
P 10 0 E charterama charterama. A misconception is genconn well known ports, frequently called, are safe. Serious things can go wrong but fortunately the frequency of serious claims is low.
Dry cargoes 40 Gas cargoes 1 Liquid cargoes 6. Finally, the War Risks clause has been updated with the standard Voywar Get started for free. These claims can run as bad as the total loss of the vessel. Due to this same reason, Owners usually prefer to go with the Gencon 94 form. The following have gdncon to such turn: The following have contributed to such turn:.
And yes, this can be a charterers problem: General average clause has also been updated to include the place of GA adjustment London unless otherwise agreed and basis the updated York-Antwerp Rules Voyage charters Dry cargoes 34 Liquid cargoes 4 Gases 2.
BIMCO Search Results
However, the impact can be enormous and can have a devastating effect on your balance sheet or prevents you from trading if your credit lines are blocked.
Charterama, with offices in Rotterdam and Hong Kong, is a specialist underwriter focused exclusively on Charterers Liability insurance and Defence FDD and related business. It will be much faster, convenient and will avoid manual typing errors or omissions.
Since the Gencon 76 and gehcon Gencon 94 charer the most used forms, here, we will focus on these two versions and will discuss the terms that make Charterers and Owners have a strong preference of one form over the other.
Agree with terms and conditions. Under English law the timely payment of demurrage is not always considered as an essential part of the charter party. This simple abbreviation mostly used in boxes 10 and 11 in for example the Gencon 94 Charter Party makes charterers responsible for the safety of the port. The survey showed that Gencon 94 is, by far, used more regularly than any other form. Another problem which owners usually face is the delayed payment or the nonpayment of demurrage claims.
Therefore, without any specific clause in place, if demurrage was not paid after proper notices had been given, owners ran the risk of not being able to recover their money. Dry cargo vessels Tankers Gas carriers Ferries Offshore vessels.
Under Time Charter contracts these risks are generally recognised, however, under Voyage Charter contracts these risks are many times still underestimated. Get the latest updates first. Here too, a simple mistake can lead to a disaster. Ships have capsized and sunk because of shifting of cargo and charterers were held liable for it. Whilst some completely new clauses have been incorporated into the Gencon 94, only one clause of Gencon 76 has been deleted, i. Tanker barges Dry cargo barges Hopper barges Barge with ramp Sea non-selfpropelled barges Deck barges.