Overview
INTERTANKO’s Commentary on BP VOY 5 is a key reference for owners, charterers, brokers, masters, crew and shore personnel on this, the first full scale revision by BP since the introduction of BP VOY 4 in 1998. Split into seven appendices, the Commentary identifies the differences and additions to BP VOY 5 since the update, as well as providing advice on the practical and legal requirements of the form.
Written in response to BP VOY 5, the first full scale update by BP since the introduction of BP VOY 4 in 1998, INTERTANKO’s Commentary on BP VOY 5 is a full review of the new form, providing an insight into its individual Clauses and acting as a practical tool to support chartering practice. The Commentary’s seven appendices contain the full text of both BP VOY 4 and 5 and INTERTANKO’s previous Commentary on BP VOY 4, as well as advice on the practical and legal requirements of the form and suggested changes Owners may consider to each Clause as appropriate.
INTERTANKO’s Documentary Committee have produced a guide that brings together both practical and legal solutions for Members who seek to charter on this new form, and which will also become a ready reference for owners, charterers, brokers, masters, crew, shore personnel and others throughout the negotiation process, voyage and post-fixture discussion.
Content
Acknowledgements
Foreword
Overview
Preamble
Part 1
Part 2
1. Condition of Vessel (BP VOY 4 Clause 1)
2. Compliance (BP VOY 4 MAC4/NEW)
3. Ethical Policy and Anti-Corruption (BP VOY 4 MAC2 & 3/NEW)
4. Chartering Questionnaires (BP VOY 4 Clause 2)
5. Loading/Compliance with Voyage Orders (BP VOY 4 Clause 3)
6. Estimated Time of Arrival (BP VOY 4 Clause 4)
7. Cancellation (BP VOY 4 Clause 16)
8. Agency (BP VOY 4 Clause 15)
9. Loading and Discharge Port/Shifting (BP VOY 4 Clause 5)
10. Notice of Readiness (BP VOY 4 Clause 6)
11. Laytime/Demurrage (BP VOY 4 Clauses 7 and 17)
12. Laytime/Demurrage Not to Count (BP VOY 4 Clause 18)
13. Ship to Ship Transfers (BP VOY 4 Clause 8)
14. Loading and Discharge of Cargo (BP VOY 4 Clause 19 Part A)
15. Inert Gas System (BP VOY 4 Clause 12)
16. Closed Cargo Sampling (BP VOY 4 Clause 13)
17. Oily Residues and Ballast Water (BP VOY 4 Clause 14)
18. Crude Oil Washing (BP VOY 4 Clause 19 Part B)
19. Hydrogen Sulphide and Mercaptans (BP VOY 4 Clause 1/SAC4)
20. Cargo Temperature (BP VOY 4 Clauses 24 and 25)
21. Cargo Retention (BP VOY 4 Clause 33)
22. Even Keel (BP VOY 4 Clause 21)
23. Under Keel Clearance (BP VOY 4 MAC12/NEW)
24. Revised Voyage Orders (BP VOY 4 Clause 22)
25. Interim Ports (BP VOY 4 Clause 22)
26. Backloading (BP VOY 4 SAC6)
27. Virtual Arrival (BP VOY 4 SAC24)
28. Freight and Dues (BP VOY 4 Clauses 31 and 34)
29. Vessel/Cargo Inspections/Bunker Surveys (BP VOY 4 Clause 29)
30. Bills of Lading (BP VOY 4 Clause 30)
31. Additional Cargo Operations and Indemnities (BP VOY 4 SAC22/NEW)
32. Liberty (BP VOY 4 Clause 26)
33. Ice (BP VOY 4 Clause 28)
34. War Risks (BP VOY 4 Clause 39)
35. Established Threat of Piracy (BP VOY 4 SAC24/NEW)
36. War Risks Additional Expenditure (BP VOY 4 SAC25/NEW)
37. Quarantine (BP VOY 4 Clause 29)
38. Address Commission (BP VOY 4 Clause 32)
39. Claims Time Bar (BP VOY 4 Clause 20)
40. Certificates of Financial Responsibility (COFRs) (BP VOY 4 Clause 37/MAC7)
41. ITOPF, P & I and Oil Pollution (BP VOY 4 Clauses 44 and 45)
42. TOPIA and STOPIA (BP VOY 4 MAC13 & 14)
43. US Customs Regulations – Coding (BP VOY 4 Clause 36)
44. ISPS, MTSA and CBP (BP VOY 4 MAC1)
45. Drugs and Alcohol Policy (BP VOY 4 Clause 10)
46. Exclusions (BP VOY 4 Clause 38)
47. Both-to-Blame (BP VOY 4 Clause 40)
48. General Average (BP VOY 4 Clause 41)
49. New Jason (BP VOY 4 Clause 42)
50. Clause Paramount (BP VOY 4 Clause 43)
51. Lien (BP VOY 4 Clause 46)
52. Sub-Letting/Assignment (BP VOY 4 Clause 47)
53. Remeasurement (BP VOY 4 MAC18)
54. Administration (BP VOY 4 Clause 48)
55. Communications (NEW)
56. Baltic Routeing (BP VOY 4 SAC3)
57. Magellan Straits (BP VOY 4 SAC2)
58. Turkish Straits (BP VOY 4 SAC1)
59. Carriage of Cargo Additive (NEW)
60. Confidentiality (BP VOY 4 MAC15/NEW)
61. Law and Jurisdiction (BP VOY 4 Clause 49)
Appendix 1. INTERTANKO Suggested Amendments to BP VOY 5
Appendix 2. INTERTANKO Guide for Masters and Operators on Practical Aspects of BP VOY 5
Appendix 3. INTERTANKO Suggested Additional Clauses for BP VOY 5
Appendix 4. BP VOY 5 Charterparty Form
Appendix 5. BP VOY 4 Charterparty Form
Appendix 6. Extracts BP VOY 4 Standard Amendments and Additional Clauses
Appendix 7. INTERTANKO Commentary on BP VOY 4 (Extract from ‘A Guide to Tanker Charters’ – INTERTANKO 2001)
Introduction
The development of this Commentary was in response to a demand by INTERTANKO Members for INTERTANKO to assist them in familiarising themselves with the revised rights and obligations, and in evaluating the risks presented under the new BP VOY 5 charterparty form launched by BP in March 2016. Designed to provide a review of the new form (the first full scale revision by BP since the introduction of BP VOY 4 in 1998), the Commentary provides an insight into its individual Clauses and is intended as a practical tool to support chartering practice.
The publication is the work of INTERTANKO’s Documentary Committee under the guidance of INTERTANKO’s General Counsel. INTERTANKO’s Documentary Committee members are drawn from INTERTANKO’s Members and Associate Members ranging from owners, charterers, brokers, lawyers, P&I Club executives and academics. Their broad experience and insight into legal and chartering matters, and familiarity with BP VOY 4, has enabled INTERTANKO to produce a guide that brings together both practical and legal solutions for Members who seek to charter on this new form.
INTERTANKO’s Documentary Committee hopes that this Commentary will become a ready reference for owners, charterers, brokers, masters, crew, shore personnel and others throughout the negotiation process, voyage and post-fixture discussion.
Details
Title: INTERTANKO Commentary on BP VOY 5
Number of Pages: 218
Product Code: WS1529K
Published Date: October 2016
Binding Format: Paperback
Book Height: 300 mm
Book Width: 210 mm
Book Spine: 10 mm
Weight: 1.00 kg
Author: Intertanko