SUPPLYTIME 2017
The BIMCO offshore support vessel time charter and the knock-for-knock architecture that defines offshore contracting.
SUPPLYTIME 2017 is BIMCO’s standard time charter party for offshore support vessels. It is the most widely used contract in the offshore supply, anchor handling and platform support trades.
Its defining feature is a knock-for-knock liability regime, under which each party bears the loss of and damage to its own property and injury to its own personnel regardless of fault, with mutual indemnities extending across the contractual group. That architecture is what distinguishes offshore contracting from mainstream chartering, where liability generally follows fault or a negotiated apportionment.
The full article will cover the knock-for-knock structure and its enforceability across jurisdictions, the consequential loss exclusions, the early termination and standby provisions, the offshore-specific operational clauses, and the relationship with the wider BIMCO offshore contract suite.