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Vessel Management Agreement
"I need a Vessel Management Agreement for a newly acquired cargo vessel based in Southampton, where we want to delegate full technical and crew management to a third-party manager, but retain commercial management in-house, with the agreement to start from March 1, 2025."
1. Parties: Identification of vessel owner and management company
2. Background: Context of the agreement and vessel details
3. Definitions: Key terms used throughout the agreement
4. Appointment and Duration: Terms of manager's appointment and contract duration
5. Manager's Obligations: Core responsibilities including technical, operational, and crew management
6. Owner's Obligations: Responsibilities of vessel owner including funding and documentation
7. Financial Arrangements: Management fees, expenses, and payment terms
8. Compliance and Reporting: Regulatory compliance and reporting requirements
9. Liability and Indemnity: Risk allocation between parties
10. Termination: Circumstances and procedures for contract termination
1. Insurance Arrangements: Specific insurance requirements and responsibilities when not covered in a separate agreement
2. Crew Management: Detailed crew management provisions when crew management is included in scope
3. Commercial Management: Charter party and commercial operations provisions when commercial management is included in scope
4. Environmental Compliance: Specific environmental obligations when vessel operates in environmentally sensitive areas
1. Schedule 1 - Vessel Particulars: Detailed specifications of the managed vessel(s)
2. Schedule 2 - Management Services: Detailed scope of management services
3. Schedule 3 - Budget and Financial Terms: Detailed financial arrangements and budgeting procedures
4. Schedule 4 - KPIs and Performance Standards: Performance metrics and standards
5. Schedule 5 - Insurance Requirements: Detailed insurance specifications
6. Schedule 6 - Forms and Procedures: Standard operating procedures and reporting forms
Authors
Applicable Laws
Budget
Business Day
Commencement Date
Crew
Crew Management Services
Commercial Management Services
Effective Date
Force Majeure
IMO
Initial Term
ISM Code
ISPS Code
Management Fee
Management Period
Management Services
Manager
Operating Costs
Owner
Party/Parties
Safety Management System
STCW Convention
Technical Management Services
Term
Territory
Vessel
Vessel Manager
Vessel Operating Costs
Working Day
Technical Management
Crew Management
Commercial Management
Insurance Arrangements
Budgets and Funding
Management Fees
Operating Costs
Manager's Obligations
Owner's Obligations
Compliance
Reporting Requirements
Record Keeping
Audit Rights
Warranties
Liability and Indemnity
Force Majeure
Confidentiality
Data Protection
Anti-Bribery and Corruption
Assignment and Subcontracting
Termination
Consequences of Termination
Notices
Dispute Resolution
Governing Law
Entire Agreement
Severability
Variation
Waiver
Third Party Rights
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