Bimco Pool Agreement

Poolcon B, the second of two standard pooling agreements for use by tramp pools, which are operated in the dry and liquid goods trade, has been published and is available. POOLCON B is designed for the use of tramp pools used in the dry and liquid materials trade under charter, cash charter or third-party charter contracts. It regulates the relationship between owners who bring their vessels into the pool and pool managers and regulates administrative and procedural issues relating to the operation of the pool, as well as the allocation of the respective commitments and obligations of the parties. As an agency agreement, there is no time charter relationship between participants and pool managers. The last edition of this contract is POOLCON B, issued in 2014. Grant Hunter, Chief Officer for Legal and Contractual Affairs at BIMCO: “Ten years ago, shipowners were concerned that pooling agreements would be contrary to EU competition law after the repeal of category exemptions. Concerns have been largely unfounded and, as a result, the number of marine pools is increasing. However, owners must continue to be careful about pooling their vessels to ensure compliance with the rules. The development of POOLCON offers a standard, well-received contract platform on which owners who work in dry and liquid bulk-trap stores can build their pools.¬†POOLCON B was designed to lay a clear basis for pooling agreements with the economic benefits and effectiveness that result for participants and their clients. Unlike POOLCON A, where participants install charter vessels in the pool in their own right, POOLCON B is the model of widespread agency agreements in which pool managers act as ship operators and assume commercial management. However, all contracts relating to the use or use of a vessel, including the statutes under a loan agreement, are defined by managers who act as representatives on behalf of pool participants and are therefore contracting entities in contracts with pool counterparties. The poolcon agreement aims to provide users with a comprehensive and clear contractual platform for the establishment of pools that have the benefits of efficiency for pool members and their customers, without any commercial restrictions. Under POOLCON, the pool is managed by a pool manager, with members chartering their tonnage in tonnage in relation to the pool.

The provisions of the agreement clearly define the administrative and procedural requirements for the operation of the pool, while liabilities and commitments are distributed between pool members and pool managers. BIMCO is adapting the SHIPMAN 2009 agreement currently used for the use of autonomous vessels, but the actual absence of autonomous vessels currently in service will involve ongoing adaptations, while the industry will advance its pioneering projects.

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