07. no drydocking clause to apply.
08. after moa signed and deposit lodged, buyer will have the right to place in shipyard at buyers expenses max four (4) representatives for familiarisation and supervision purposes only and without interference to vessels normal construction/building, upto vessels delivery. prior boarding, buyers representatives to sign seller usual p+i indemnity forms. sellers/officers/crew to fully cooperate in explaining / demonstrating operation of vessel’s equipments. seller to provide accomodation/office available at shipyard.
09.
at delivery, seller should provide the documents to the buyer as the list stated in appendix to this moa, in order to effect smooth transfer of title and in buyer's option, register of flag. list of such documents as per attached appendix and they shall be incorporated into an addendum to this moa. at time of delivery, seller will cooperate to the buyers to obtain all certificates required by the flag authority which to be registered.
10.
closing and exchange of full documents to be in shanghai.
11. all negotiations and eventual sale to be kept strictly private and confidential between parties involved.
12. this moa shall be effective after subjec the following condition:
12.1
moa signed by both parties.
12.1 subject lifted by b.o.d of the both parties, but not later than 3 working days after signing moa.
13.
buyers default
should the deposit not be paid in accordance with clause 2, the sellers have the right to cancel this agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest.
should the purchase price not be paid in accordance with clause 2, the sellers have the right to cancel the agreement, in which case the deposit together with interest earned shall be released to the sellers. if the deposit does not cover their loss, the sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.
