2. Bidding Object:
(Data above refers to the ship inspection certificates)
All the information and data provided in the Bidding Announcement, Special Provision, Technical Report as well as any other channel related to the Ship are for reference only. The bidding object is subject to the status at the time of delivery. If there is any discrepancy between the actual situation and the information and data above shall not affect the bidding and bidding price. Once the bidding is concluded, the Sellers and we shall not assume any liability for defects or quality problems of the bidding ship.
3. After Bidding
3.1 After a successful bidding, the Buyers shall sign an Auction Confirmation with the Bidding Company on the same day (the “Bidding Day”) via email or facsimile. The Buyers shall sign an original Auction Confirmation with the Bidding Company within two (2) Banking Days of the Bidding Day.
3.2 The bidding deposits of the unsuccessful bidders shall be returned within 2 working days after the bidding without interests. The bidding deposit of the Buyers shall be automatically converted as part of purchase fund after the bidding completed and MOA signed without interests.
3.3 It’s acknowledged the interests-free dollar account designated by the bidding company is the escrow account for the Buyers and Sellers to hold and release the funds of the Purchase Price. After signing the Protocol of Delivery and Acceptance (PODA) & Joint Release Letter, the bidding company shall release all the purchase funds which received from the Buyers, including but not limited to ROB charge and other delivery monies to the Sellers within 3 working days without interests. The bidding company shall not charge any additional fee for the escrow service of funds.
4. Delivery and Transfer (Deletion) of the Ship
4.1 The Buyers shall pay all the bidding service fee not later than 16:00 November 25th, 2022 (Beijing Time), and remit the balance of the Purchase Price, estimated ROB charge and other delivery monies (if any) to the escrow account nominated by the Sellers, at least two (2) working days prior to the Vessel’s expected delivery date. Any delay or failure to pay fees mentioned above shall be deemed as a breach of the Bidding Announcement and the MOA.
4.2 The original ship owner (as the Sellers) should complete all the deletion procedures relating to the ship within 10 working days after signing PODA.
Notice of Readiness shall not be tendered before: December 12th, 2022;
Cancelling Date: January 12th, 2023.
If, for any reason related to the COVID-19 (Coronavirus) outbreak, or other epidemic, pandemic or infectious diseases at the place of delivery, as declared by the World Health Organization or any local governmental or port authority, delivery of the Vessel becomes impractical or impossible by the Cancelling Date, a new Cancelling Date should be mutually discussed and agreed between the Sellers and the Buyers.
4.3 Delivery Place: The ship shall be delivered and taken on an “as is where is” basis, as she is and where she is at the time that the Buyers take delivery at one safe port or anchorage within Singapore – Japan range (including China, South Korea) at the Sellers’ option. The Sellers shall send the notice with intended delivery time and place 15 days in advance.
The Sellers are not responsible for any time and cost for the Buyers to take delivery of the Ship which shall be for the Buyers’ account. The Buyers shall be deemed to have confirmed to accept the ship’s condition if they did not inspect the ship within the prescribed inspection time. The bidders shall not object to any defects, such as the quality, of the Ship for any reason.
4.4 The sales and purchases contract (MOA) shall be signed as attached. In principle, no modification of the MOA will be allowed, except filling with the necessary information (e.g. Buyers' information, purchase price, etc.), or others terms mutually agreed between the Sellers and the Buyers. In the event of any conflict or ambiguity between MOA and this public notice (including the bidding Announcement, bidding rules, special provision, etc), the terms in such public notice shall prevail.
The Buyers shall sign the sales and purchases contract (MOA) with the Sellers within 7 working days after signing the Auction Confirmation. If the Buyers fail to sign the Auction Confirmation or the MOA as scheduled, the Sellers have the right to confiscate all the bidding deposit.
4.5 Items on board which are on hire or owned by third parties excluded from the sale without compensation. Details please refer to MOA.
4.6 Two attachments in total. Please download and check the details.
5. Related expenses
5.1 Bidding service fee: After the bidding, the Buyers shall pay to the bidding company 1% of the purchase price as bidding service fee.
5.2 The bank charges related to the bidding deposit shall be borne by the bidders; and the bank charges related to the purchase price shall be borne by the Buyers.
5.3 The Sellers would provide with commercial invoice of the purchase price and the remaining bunkers & unused lubricating. All the taxes, expenses and costs incurred after the ship delivery shall be borne by the Buyers themselves.
5.4 On delivery, the Buyers and the Sellers shall take measurement of the remaining bunkers and unused lubricating. The Buyers shall take over remaining bunkers and unused lubricating and hydraulic oils and grease in storage tanks and unopened drums and pay with the last actual net price (exclude barging expenses) as evidenced by invoices or vouchers; or if the invoices or vouchers are not available, the Platts Singapore price on the 3rd business days prior to the date of delivery to be applied.
5.5 The Ship with everything belonging to her shall be at the Sellers' risk and expense until she is delivered to the Buyers, while the Ship’s risk and expenses shall be for the Buyers’ account after the delivery of the vessel under this Agreement.
6. Matters not covered herein shall be settled through negotiation by the bidding company, the Sellers and the Buyers.
Zhejiang Shipping Exchange Market Co., Ltd.
Zhoushan Yi Ge Ship Auction Co., Ltd
October 20th, 2022
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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