NSF 2012

NSF 2012 is the Norwegian Saleform 2012, the market-standard contract for the sale and purchase of second-hand ships, issued by the Norwegian Shipbrokers’ Association and adopted by BIMCO. It sets out the memorandum of agreement: the deposit, usually 10 percent, the inspection and class-records regime, the deadline for delivery, the condition on delivery free of encumbrances and maritime liens, and the documents exchanged at closing. It revised the 1993 Saleform, adding a joint deposit account, anti-money-laundering documentation, and clearer default remedies. It is the most common form in dry S&P deals worldwide.