Salvage & Wreck Asia     Singapore   September 2012     Clive Reed C Solutions Limited
Practical use of BIMCO wreck    removal contracts &
The Interface withEmergency Salvage     Services
Who are C Solutions limited
C Solutions Limited•   Twelve Years old but 200 years of experience•   Previously Incite Claims Management Limited•   Form...
C Solutions LimitedWhat do we do?• Investigations• Legal Advice• Claims Handling• Out Sourcing• Salvage and Wreck Removal
HISTORY• BESPOKE AGREEMENTS• BIMCO TOWCON and TOWHIRE• WRECKCON/ WRECKHIRE –EARY90’S• WRECKHIRE 99/10• WRECKFIX 99/10• WRE...
WRECKSTAGE 99
WRECKSTAGE 99   ANNEX I
Change of Circumstance
CHANGE OF METHOD OF WORK and/or     PERSONNEL, CRAFT AND EQUIPMENT4.     The lumpsum (Fixed price/rates of hire) is based ...
The parties shall, without delay, consult each other to    reach agreement on the amount of the additional    costs to be ...
DELAYS7.   If the Contractor is delayed in performing its obligations     under this Agreement due to adverse weather or s...
Bad Weather
Deletion Certificate
Government Interference / Permission
Back to Back Contracts
Limitation of Liability
Innovation
The Use of Wreck RemovalContracts for the provision  of Emergency Services     Salvage
Does the industry need acommercial emergency servicescontract to run as an alternative     to Lloyd’s Open Form?
LOF 2000/2011
•General dislike of LOF•Perceived view awards too high•No relation to Commercial cost of     services•Increase in number o...
Reasonable Reward    Investment in Men and Equipment                   -V-     Reasonable Cost to UnderwritersMaintain Exp...
Financial terms generally easy to agree
Nature of the Services,      Personnel, Craft and Equipment               Method of Work   Description, Specifications, Po...
Risk /Reward
•Knock for Knock contracts•Third party Indemnities•Criminal Liability
Simple/Agreed Quickly
Bind Cargo, cash flow and funding
C solutions   wreck removal contracts the interface with emergency salvage services singapore sept 2012
C solutions   wreck removal contracts the interface with emergency salvage services singapore sept 2012
C solutions   wreck removal contracts the interface with emergency salvage services singapore sept 2012
C solutions   wreck removal contracts the interface with emergency salvage services singapore sept 2012
C solutions   wreck removal contracts the interface with emergency salvage services singapore sept 2012
C solutions   wreck removal contracts the interface with emergency salvage services singapore sept 2012
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C solutions wreck removal contracts the interface with emergency salvage services singapore sept 2012

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C solutions wreck removal contracts the interface with emergency salvage services singapore sept 2012

  1. 1. Salvage & Wreck Asia Singapore September 2012 Clive Reed C Solutions Limited
  2. 2. Practical use of BIMCO wreck removal contracts &
  3. 3. The Interface withEmergency Salvage Services
  4. 4. Who are C Solutions limited
  5. 5. C Solutions Limited• Twelve Years old but 200 years of experience• Previously Incite Claims Management Limited• Formed by Chris Beesley• Employees mostly formally Ince & Co• Master Mariners• Became C Solutions Limited – April 2008• London, Newcastle, Monaco, Greece, Dubai, Hong Kong, Australia Mumbai, Shanghai and Singapore.• Prominent local lawyers “house” C Solutions
  6. 6. C Solutions LimitedWhat do we do?• Investigations• Legal Advice• Claims Handling• Out Sourcing• Salvage and Wreck Removal
  7. 7. HISTORY• BESPOKE AGREEMENTS• BIMCO TOWCON and TOWHIRE• WRECKCON/ WRECKHIRE –EARY90’S• WRECKHIRE 99/10• WRECKFIX 99/10• WRECKSTAGE 99/10
  8. 8. WRECKSTAGE 99
  9. 9. WRECKSTAGE 99 ANNEX I
  10. 10. Change of Circumstance
  11. 11. CHANGE OF METHOD OF WORK and/or PERSONNEL, CRAFT AND EQUIPMENT4. The lumpsum (Fixed price/rates of hire) is based upon the Nature of the services, set out in Box 7 and the Personnel, Craft and Equipment and Method of Work set out in Annexes I and II, as well as the Description, Specifications, Position, Condition of the Vessel and the Worksite set out in Boxes 4, 5 and 6. If before or during the operation, and without fault on the part of the Contractor, there is a substantial change in the services and or in the personnel, Craft and Equipment required to undertake the services due to any misdescription by the Company or error in the specification provided by the Company upon which the Contractor has relied or a material change in the position and/or condition of the Vessel or the worksite, the contractor shall forthwith give notice in writing thereof to the Company and of the estimated additional costs to effect the services.
  12. 12. The parties shall, without delay, consult each other to reach agreement on the amount of the additional costs to be added to the lumpsum. In the event that the parties are unable to reach agreement on the additional costs within 5 days of the Contractor providing details of the extra costs, either party may terminate the services. If permission to terminate is not given by the competent authorities the Contractor shall be paid…………………Arbitration (by Agreement)/reference to Expert EvaluationIf Services become easier……..
  13. 13. DELAYS7. If the Contractor is delayed in performing its obligations under this Agreement due to adverse weather or sea conditions, in excess of the number of days set out in Box 16, or due to any other reason outside the control of the Contractor, the Contractor shall receive from the Company an additional compensation – per working day or pro rata – at the rate set out in Box 14, for the time the Contractor is delayed in commencing or continuing the services with the customary progress. The Company shall be promptly advised by the Contractor about all delays, which shall be confirmed in writing as soon as possible.
  14. 14. Bad Weather
  15. 15. Deletion Certificate
  16. 16. Government Interference / Permission
  17. 17. Back to Back Contracts
  18. 18. Limitation of Liability
  19. 19. Innovation
  20. 20. The Use of Wreck RemovalContracts for the provision of Emergency Services Salvage
  21. 21. Does the industry need acommercial emergency servicescontract to run as an alternative to Lloyd’s Open Form?
  22. 22. LOF 2000/2011
  23. 23. •General dislike of LOF•Perceived view awards too high•No relation to Commercial cost of services•Increase in number of International salvors/Increase supply•Superior communication
  24. 24. Reasonable Reward Investment in Men and Equipment -V- Reasonable Cost to UnderwritersMaintain Experienced and Equipped Salvage Capability
  25. 25. Financial terms generally easy to agree
  26. 26. Nature of the Services, Personnel, Craft and Equipment Method of Work Description, Specifications, Position,Condition of the Vessel and the Worksite set
  27. 27. Risk /Reward
  28. 28. •Knock for Knock contracts•Third party Indemnities•Criminal Liability
  29. 29. Simple/Agreed Quickly
  30. 30. Bind Cargo, cash flow and funding

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