SHIPSALE 22

SHIPSALE 22 is BIMCO’s own standard ship sale and purchase agreement, published 25 April 2022 after a two-year drafting process that weighed more than 800 industry comments. It is BIMCO’s first S&P form and competes with the Norwegian Saleform 2012 and NIPPONSALE 1999. SHIPSALE 22 uses BIMCO’s box layout, aggregating deal-specific inputs on the first page, and arranges the clauses in the sequence a sale actually follows. It adds conditions precedent, an international sanctions clause, and BIMCO’s Electronic Signature Clause 2021, and provides for remote electronic closing. It is governed by English law with London arbitration unless amended.