London, United Kingdom
Watson Farley & Williams LLP
SHIPTERM Seminar, London 21 March, 2017
Hosted by BIMCO and Watson Farley & Williams LLP
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London 21 March 2017 [+] 30 FREE
Venue: Watson Farley & Williams LLP, 15 Appold Street, London EC2A 2HB
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EVENT DETAILS
 

SHIPTERM - BIMCO's Standard Term Sheet for Bilateral Ship Financing

Seminar 14.30-16.00 followed by networking reception finishing at 17.30 



The seminar will be hosted by BIMCO and Watson Farley & Williams LLP and will feature a panel of four representatives of the subcommittee that developed SHIPTERM:
 
Francis Sarre, Compagnie Maritime Belge (chairperson of the subcommittee)
Christopher Conway, Citi
Klaus Vilstrup, Dampskibsselskabet NORDEN A/S
Michael Vernell, Watson Farley & Williams LLP
 
The panelists will introduce and explain SHIPTERM and discussion will be invited with the audience on aspects such as the indicative/non-binding nature of the term sheet, issues relating to governing law and jurisdiction, and negative base rate scenarios and how these have been addressed.
 
The SHIPTERM subcommittee also included the following representatives, many of whom will take part in the seminar:
 
Daming Qian, ICBC
Gildas Maire, Louis Dreyfus Armateurs
Liv Hege Dyrnes, AS Klaveness Chartering
Matt Hannaford, Hannaford Turner LLP
Michael Ziesenitz, Deutsche Bank
Nick Fell, BW Group
Olga Petrovic, Linklaters LLP
Peter Willems, HSBC
Robin Bencard, shipping and structured asset financing consultant
Xavier Riffaud, INGEPAR 

SHIPTERM was adopted by BIMCO’s Documentary Committee on 17 November 2016. It has been drafted as a short and simple standard for use in bilateral ship financing transactions concerning term loan facilities. It has been prepared in the well-known BIMCO format and is indicative/non-binding, as this is considered to be the market standard.

A BIMCO standard will be an important tool for shipowners, banks and lawyers when they draw up term sheets as part of ship financing transactions. The standard will be particularly useful for small and medium sized companies, who may not have a lot of experience with such transactions, but it is expected that all parties involved will save time and money.
 

The seminar is free of charge and is open to BIMCO members and non-members. Participants at the seminar will receive a free copy of the SHIPTERM booklet containing a copy of the standard term sheet and explanatory notes.
 

Date and venue:
 
21 March 2017
14.30-17.30 
Watson Farley & Williams LLP
15 Appold Street
London EC2A 2HB



 
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Standard term sheet cover shot