SUPPLYTIME 2017

SUPPLYTIME 2017 is BIMCO’s standard time charter party for offshore support vessels, the latest edition of a form first issued in 1975 and the benchmark contract for the offshore sector. It charters platform supply vessels, anchor handling tug supply vessels, and similar tonnage to oil companies and contractors. Its defining feature is a knock-for-knock liability regime: each party bears loss of and damage to its own property and injury to its own people regardless of fault, carried by its own insurers. The 2017 revision stripped out many exceptions that had crept into the knock-for-knock provisions and rebalanced a traditionally owner-friendly form.