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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

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    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 Presentation Transcript

    • 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• 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
    • 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• WRECKSTAGE 99/10
    • 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 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.
    • 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……..
    • 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.
    • 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 of International salvors/Increase supply•Superior communication
    • Reasonable Reward Investment in Men and Equipment -V- Reasonable Cost to UnderwritersMaintain Experienced and Equipped Salvage Capability
    • Financial terms generally easy to agree
    • Nature of the Services, Personnel, Craft and Equipment Method of Work Description, Specifications, Position,Condition of the Vessel and the Worksite set
    • Risk /Reward
    • •Knock for Knock contracts•Third party Indemnities•Criminal Liability
    • Simple/Agreed Quickly
    • Bind Cargo, cash flow and funding