ICOMIA revises standard framework contract

Author:
Updated:
Original:

The International Council of Marine Industry Associations’ Superyacht Refit Group, which represents quality refit, repair and maintenance yards, launched the latest revision of its standard framework contract.

Developed by the Refit Group in conjunction with prominent international marine lawyers, the contract addresses matters such as performance, subcontracting, redelivery, liability, warranty and insurance and speeds the process of contractual settlement.

“The ICOMIA Superyacht Refit Group Standard Framework Contract has achieved widespread use within the refit sector, with hundreds of contracts representing over 100 million euros already issued,” ICOMIA Superyacht Refit Group chairman Rob Papworth said in a statement.

“Its acceptance by the major management and insurance companies, coupled with the increasing number of industry-leading ICOMIA Refit Group members, is testament to the fact that the original contract was a huge step forward in the professionalism of the refit industry and we hope that the release of this update strengthens its position as an industry wide de facto sector standard.”

The motivation for the establishment of the Refit Group was to improve the owner’s experience of refit by increasing professionalism in the sector, with the leading yards coming together to both set the agenda and take a prominent leadership role in addressing issues.

ICOMIA Superyacht Refit Group members consist of Amico & Co., Astilleros de Mallorca, Blohm + Voss Repair, Compositeworks, Marina Barcelona 92, Monaco Marine, NCP-Repair Shipyard Šibenik Ltd Nobiskrug GmbH, Palumbo Marseille Superyacht ITM, Pinmar and Rybovich.

Related

Patrick Acquires SeaDek Parent

The Indiana-based company continues its strategy of growth through acquisitions.

BoatUS, USPS Resume Safety Checks

The groups are offering the service during safety events, or boaters can conduct the inspection using an online guide.

Stepping Up the Pace of Relief

A positive jobs report, 3 million vaccinations per day and consumer confidence point toward economic recovery.

Freedom Boat Club Buys N.Y. Franchise

The latest acquisition is Brunswick’s sixth corporate-owned Freedom operation in the United States.

In-Person NMEA Conference Announced

The electronics conference, in conjunction with the Radio Technical Commission for Maritime Services, is scheduled for Sept. 20-24 in Orlando, Fla.

Vesper Appoints U.S.-based Manager

Damien Frye will drive sales of the New Zealand-based company’s Cortex product line.

Groupe Beneteau Sells CNB

As part of the conglomerate’s realignment, the Groupe has inked an agreement with Italian yard Solaris to purchase the bluewater sailing brand.