GENCON is a standard voyage charter party. It is a general purpose agreement for the services of a ship in exchange for freight and can be used in a variety of. Gencon, Charter Party, Chartering agreement. and particularly known also as “ Gencon ”. Gencon, first issued in and revised in and The GENCON (General Charter Conditions) charter party is the most common Due to this same reason, Owners usually prefer to go with the Gencon 94 form.
|Published (Last):||24 May 2010|
|PDF File Size:||9.24 Mb|
|ePub File Size:||8.4 Mb|
|Price:||Free* [*Free Regsitration Required]|
It is a general purpose agreement for the services of a ship in exchange for freight and can be used in a variety of trades. Clause 12 of Gencon 76 limits the indemnity for non performance of the charter party up to the amount of estimated freight.
Gencon 94 vs Gencon 76 — Differences in Part I Since the Gencon 94 is a revision of Gencon 76, in order to see their differences one needs to focus on the amendments incorporated with the revision. However, the impact can be enormous and can have a devastating effect on your balance sheet or prevents you from trading if your credit lines are blocked. Cargo insurance Charterers Liability Hull insurance.
Prepayment of freight is incorporated in Gencon Often there is the perception that a cargo is just booked on a ship and the vessel will bring the goods to destination. Get started for free.
The following have contributed to such turn:. Charterers Liability insurance with Charterama offers affordable protection and an experienced crew to keep you in business. Follow us on social media.
Voyage charters Dry cargoes 34 Liquid cargoes 4 Gases 2. Get the latest updates first. Chartering a vessel puts charterers in a position whereby they have a potential exposure to be held liable for unexpected and unforeseen incidents. These claims can run as bad as the total loss of cyarter vessel. Dry cargoes Liquid cargoes Gases.
On the other hand, Charterers would definitely prefer payment closest to the delivery of the cargo rather than upon its shipment as it is the case in Gencon The vessel is loaded and discharged in named ports and the Master signed the Bill of Lading.
Another clause which is extended in Gencon 94 is the lien clause which now includes also the lien on sub-freights to cover the cases the vessel is sub-chartererd. This happens for a variety of reasons such as the following: Therefore, without any specific clause in place, if demurrage was not paid after proper notices had been given, owners ran the risk of not being able to recover their money.
The costs for defending a case like this alone can run into hundreds of thousands of dollars, if not exceeding a million.
The main Gencon forms which may create a dispute
General average clause has also been updated to include the place of GA adjustment London unless otherwise agreed and basis the updated York-Antwerp Rules With this change, the clause is less wide and the chances for a strike or lock-out to fall within this generic exclusion are definitely less than in Gencon The most frequent claims are damage to hull and cargo claims, however, chatrer party liability like personal injury or worse and pollution are also real risks; exposures, which can run into millions of dollars.
Contact our office in Rotterdam or in Hong Kong. We have a dedicated team of specialists who have proven track record and a long-standing experience and reputation in Charterers Liability. Another problem which owners usually face is the delayed payment or the nonpayment of demurrage claims. Agree with terms and conditions.
Charterama, with offices in Rotterdam and Hong Kong, is a specialist underwriter focused exclusively on Charterers Liability insurance and Defence FDD and related business.
Along with the payment of freight upon delivery, which existed in previous revisions, are the two payment options which apply in Gencon Ship chartering is easy with us Just place your open inquiries and find suitable positions.
The Risk of GENCON
And your quotation and your documentation will be with you within 24 working hours, or even the same day. Search everywhere Search in section Vessels for sale Search in section Types of vessels Search in section Terms Search in section Proformas of contracts. Here too, a simple mistake can lead to a disaster. P 10 0 E charterama charterama. Self-propelled split hopper barge built in Romania.
Just place your open inquiries and find suitable positions. Built in in China. Privacy Statement Terms of agreement Copyright