An Interactive 5-Day Training Course
Masterclass in Supplytime Charter Party Contracts
A Guide for Contracting and Management of Offshore Supply Vessels
Course Overview
SUPPLYTIME is the benchmark for offshore support vessel agreements – and the industry’s contract of choice. It has also been widely adopted by other sectors looking for a contract offering a comprehensive knock-for-knock framework. This GLOMACS training course will assist you in identifying how the form works when being used for a wide variety of tasks, thereby helping you to understand and explain your own risks and exposure.
The Maritime and Offshore Oil and Gas industry depends on Offshore Supply Vessels (OSV) for their offshore operations relating to a number of marine activities. BIMCO Supplytime 2005 and 2017 is the benchmark for Offshore Support Vessel (OSV) agreements – and the industry’s contract of choice. These need to be negotiated bearing in mind both the operational and commercial nature of the work they undertake. Parties to an OSV Chartering contract must identify the key issues and amend standard form contracts to address their concerns if necessary.
This training course will be a “how to” guide for handling OSV Charter Party contracting and OSV management. Participants of this training course will examine contract clauses in relation to the relevant legal, commercial, and operational considerations and identify the problematic issues and learn how to negotiate and draft contracts that can avoid or mitigate these problems. The key take away from this course will be how to deal with counterparty risk, insurance and liability issues and overall mitigation of risk exposure with carefully crafted clauses in a chartering contract.
This training course will highlight:
- How does the Supplytime contract works across different segments of the offshore, maritime and energy sector?
- What are the other uses of SUPPLYTIME for OSV/AHTS?
- Key clauses and the changes from SUPPLYTIME 2005 to 2017
- Conditions, maintenance and removal of equipment
- Insurance and Knock for knock clauses – a practical guide
- How to work with rider clauses?
Training Objectives
The delegate attending this training course will be able to:
- Improve your understanding key issues relating to OSV chartering contracts
- Gain expertise in negotiating offshore contracts
- Compare and differentiate the various types of OSV contracts for different operational needs
- Master allocation of risk between owners and charterers
- Avoiding and mitigating risks by using smart contracting strategies.
- Grasp critical commercial and legal implications of liability and indemnity clauses
- How to insure in order to safeguard against potential risk and liabilities
Who should Attend?
This training course is suitable to a wide range of professionals involved in the OSV / AHT maritime sector and will greatly benefit the following personnel.
- Owners
- Charterers
- Offshore Field Operations Managers
- Commercial and Marketing Directors
- Corporate Legal Counsels
- Practicing Maritime Lawyers interested in OSV Sectors
- Fleet Managers, Ship Managers and Superintendents
- Operations Managers, Masters, Post-fixture Managers
- Investment Analysts and Offshore Credit Risk Managers of Financial Institutions
- Managers from Platform Operators and those engaged in Offshore E & P Projects
- CEO, COO, CFO
- Legal counsel & Financial officers
- Technical Managers
- Marine Operations Personnel
- Business Development Managers
- Commercial Managers
- Maritime Executives, Ship Engineers
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
Training Outline
DAY 1: Introduction to BIMCO to SUPPLYTIME 2005 and 2017
- Commercial/practical aspects to SUPPLYTIME 2005 and 2017
- What is SUPPLYTIME?
- How does the form work?
- Owner and charterer’s roles and responsibilities
- Key clauses and changes in SUPPLYTIME 2017.
- Delivery/redelivery – parties obligation on delivery
- Late delivery and its consequences
- Charter Period & Extensions – agreed and automatic
- Breakdown / continuous period of offhire
DAY 2: Key Clauses in SUPPLYTIME 2005 AND 2017
- Standard clauses to note
- Rider clauses
- Knock-for-knock indemnity
- Hire payment and withdrawal of vessel
- Termination and withdrawal
- Early termination for convenience
- Gross negligence and wilful misconduct & fraud
- Repudiatory breach of charter party
DAY 3: Vessel Specification, Maintenance, and Insurance
- Description and class of the vessel at delivery
- Condition, maintenance, and removal of equipment:
- Annex A – vessel specification
- Meaning of "about", "approximately", "without guarantee"
- Due diligence – what is it and actions to be taken
- Owners’ obligations to exercise due diligence
- Obligation to maintain the vessel and ensure the vessel is fit for purpose
- Mobilisation and demobilisation
- Maintenance days
- Insurance Knock for knock clauses
- Consequential loss
DAY 4: Employment and Operations
- Employment, salvage, etc.
- Bunkers
- Unsafe ports, war risks, ice, and fever
- Offhire, breakdown / continuous period of offhire
- Payment period and Terms
- Suspension of service
- Enforcement
- Termination and liens
- Insolvency
- Standby, Force Majeure & Vessel’s intended work becoming impossible
- Taxes, fees, and licenses
- Expropriation and piracy
Identifying the Pitfalls and Problem Areas and Learning Best Practices to Manage them
- Identifying potential areas of dispute
- Examining some of Supplytime’s problem provisions
- Considerations when revising the provisions for your own operations
- Best practice contract management on how to avoid the pitfalls
- Dispute resolution & Options available
- Implications of choice of law, choice of forum
Workshop on Negotiating Supplytime Charter Party Contracts
- Effectively negotiating and amending a Supplytime OSV chartering contract.
- Participants to work through a real-life example and focus on what problems and solutions.
Certificates
- On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
- Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Accreditation
GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.
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