A ship management contract is a legal document which is drafted when the ship owner hires another individual or an organization to look after the complete management of the ship. The contract mention the details of both the parties and various terms and conditions agreed between them.
Sample Ship Management Contract
Contract Number: SM 2630
Date of Registration: 21st June, 2010.
This is an agreement made between Mr. Harry Ford, as the owner of the ship, residing at 900 N Cass Lk Rd Waterford, Michigan and Mr. John Travis, as the representative of the management company having its office at 1530 College Ave Manhattan, Kansas.
Terms and Conditions:
- As per the contract, the management company has to look after the management of the ship owned by the owner. The management company has to look after the cargos present on the ship and has to manage the ship staff as well.
- The management company has to make sure that the insurance of the ship is kept updated and all other safety regulations are being taken care of.
- The contract’s duration shall be three years until any of the party decides to terminate it.
- The amount payable to the management company shall be a sum of $ 1.5 million every year.
- The contract can be renewed at the consent of both the parties.
Hence, both the parties concerned are in approval of this contract and provide their signature below.
Signature of the ship owner
Mr. Harry Ford
Signature of the management company representative.
Mr. John Travis