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  1. University of Yangon
  1. University of Yangon
  2. Department of Law

Issues on Shipbulding Contract

http://hdl.handle.net/20.500.12678/0000003010
http://hdl.handle.net/20.500.12678/0000003010
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Issues Issues on Shipbulding Contract.pdf (2 Mb)
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Publication type
Dissertation
Upload type
Publication
Title
Title Issues on Shipbulding Contract
Language en
Publication date 2016-05-01
Authors
Pwint Phyu
Description
A shipbuilding contract is a contract executed between a buyer and a shipbuilder for the construction of a ship. In other words, a shipbuilding contract is a contract for a ship that is not yet in existence. Therefore, by definition, a shipbuilding contract is a contract for future goods as the property cannot pass at the time the contract is concluded. The contract covers a wide range of commercial, technical and financial matters which need to be negotiated and discussed between the buyer and eligible shipbuilders before the contract can be made. During the pre-contract stage an invitation to bid is issued by the buyer to the eligible builders and the bid most suitable for the buyer’s purpose is selected. Further negotiations between the buyer and the successful bidder (builder) eventually lead to the making of the shipbuilding contract. The contract establishes the rights and responsibilities and the assignment of risks between the parties regarding all technical, cost, delivery and financial matters. Given these varied aspects of a shipbuilding contract, and the extensive period of time required for construction, the parties to the contract are bound to be faced with numerous issues pertaining to coast overruns, changes in design, delays in delivery of material and equipment and other unforeseen obstacles, like the insolvency of one of the parties, damage and loss due to force majeure or others circumstances, etc.
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