Ship Sale and Purchase
By: Iain S. Goldrein, Matt Hannaford, Paul Turner
About This Book
Widely regarded as the definitive book in the area, this brand new edition of Ship Sale and Purchase contains a detailed analysis of the provisions found in the three standard form contracts currently used in connection with the sale and purchase of second-hand tonnage, namely Saleform 1987, Saleform 1993, and Nipponsale 1999. In addition, there are commentaries on special subjects relevant to the sale and purchase markets. The book provides practical guidance in relation to the negotiation, preparation, and completion of ship sale contracts and provides a unique and detailed analysis of this important area of maritime law. The book will be of benefit to ship owners, sale and purchase brokers, marine lawyers, bankers, ship managers, P & I clubs, marine surveyors, shipbuilders, and classification societies.
AI Overview
The book "Ship Sale and Purchase" by Matt Hannaford, Paul Turner, and Iain Goldrein is a comprehensive guide for professionals involved in the business of buying and selling ships. Here is a detailed overview of the book:
Key Themes
Legal Analysis and Practical Guidance:
- The book provides legal analysis, market insight, and practical guidance for all those involved in the business of buying and selling second-hand ships.
Electronic Signatures and Remote Closings:
- It includes commentary on changes in working practices such as the use of electronic signatures and the practice of "remote" closings.
Payment Mechanisms and Sanctions:
- The book covers payment mechanisms and the impact of sanctions and anti-corruption legislation on ship sale and purchase agreements.
Sale and Purchase Agreements:
- It focuses on the essential elements of sale and purchase agreements, including definitions, interpretation, purchase price, deposits, inspections, and delivery notices.
Regulatory Compliance:
- The book covers relevant regulations and the various sale forms, ensuring that readers are aware of the legal and regulatory requirements in the industry.
Market Insight and Valuation:
- It provides market insight and guidance on ship valuation, finance, and the various aspects of shipbroking, including marketing, maintaining relationships, and negotiating contracts.
Plot Summary
The book is structured to provide a clause-by-clause commentary on the latest standard forms of ship sale contracts, such as SALEFORM 2012 issued by BIMCO and the Norwegian Shipbrokers Association. It includes a comprehensive description of how the standard form provisions may be modified to suit the particular requirements of each transaction. Additionally, it evaluates recent case law to highlight contractual issues that have arisen in recent years.
Critical Reception
While there are no specific reviews available on Goodreads for the latest edition, the book has been well-received in previous editions for its practical use and comprehensive coverage of the subject. It is considered an essential working guide for professionals in the shipping industry, highlighting typical problems and tensions between parties to ship sale contracts, as well as best practices.
Editions and Updates
The book has been updated to reflect the latest developments in the industry. The seventh edition includes new commentary on electronic signatures, remote closings, and the impact of sanctions and anti-corruption legislation. The book is substantially revised from previous editions and has been closely aligned with the latest syllabus from the Institute of Chartered Shipbrokers.
In summary, "Ship Sale and Purchase" by Matt Hannaford, Paul Turner, and Iain Goldrein is a definitive guide for professionals in the shipping industry, offering comprehensive legal analysis, practical guidance, and market insight. Its latest edition reflects the evolving nature of the industry, making it a valuable resource for those involved in ship sale and purchase agreements.