Assignment on Recycling and Demolition
Added on - 21 Apr 2020
Demolishcon is the revised version of previous salescrap 87 contract used for negotiationwhile selling a vessel for the purpose of recycling and demolition. The clauses of thisdocument were grouped in two parts[CITATION Pet06 \l 16393 ].The features of these are discussed below in brief:Part IThis part of the document mainly covers the details regarding the ship to be sold forrecycling. It contains the name and address of the owner of the ship, IMO number, IMOregistered owner identification number, IMO company identification number, Ship grosstonnage, port of registry, distinctive letters or number of ship and date of construction, etc. Inother words, it contains all the physical details of the ship, the place where it is sold, buyersand sellers information, selling details, etc.Part IIThis part starts with a preamble of undertakings of both the parties i.e. seller and buyers tocomply in accordance to the industry code of practise for selling & recycling in a safe andenvironmentally sound manner. This explains the procedure to be followed for selling of thevessel and provides an outline and the way by which the contractual parties can best act. Thiscontact has to be as per the national and international stated in accordance with clause 17.The 5 clauses which more or less are common which are as follows:Clause 2 (Purchase price) and Clause 4 (Payment):These two clauses are common as both is related to the price of the contact[ CITATION Put10 \l16393 ].Clause 2 is about the price of the ship set out by the contractual parties while isabout the release of same payment which was decided after the timely delivery ofconsignment.Clause 6 (Advance Notice of Arrival), clause 7(Notice of Readiness of Delivery) and clause8(Delivery):All these 3 clauses are related to the delivery of the vessel. Clause 6 states the prior notice tothe buyers about the vessel position and estimated arrival time of the vessel. Clause 7 statesthe notices of readiness of the physical delivery of the vessel while clause 8 sets out theconditions in which the vessel must be delivered. As all 3 states the delivery terms andconditions, it could have been explained under one clause.