Common use of Classification, Rules and Regulations Clause in Contracts

Classification, Rules and Regulations. (a) The Vessel shall be designed, constructed, surveyed, tested and delivered in compliance with the applicable laws, rules, regulations and requirements of the Classification Society stated in Box 8, and the Regulatory Authorities: (i) in force as of the date of this Contract stated in Box 1, or (ii) if not in force as of the date of this Contract, which are ratified and promulgated on or before the date of this Contract and which will be compulsory for the Vessel on or before the delivery of the Vessel in accordance with Clause 28 (Delivery). All such laws, rules, regulations and requirements of the Classification Society and the Regulatory Authorities shall be complied with without qualification (see Clause 26 (Changes in Rules and Regulations)). (b) The final decisions of the Classification Society or Regulatory Authorities shall be binding on the Parties as to the Vessel’s compliance with their respective applicable laws, rules, regulations and requirements. (c) All costs, fees and charges incidental to and in respect of compliance with the applicable laws, rules, regulations and requirements of the Classification Society or Regulatory Authorities referred to above shall be for the Builder’s cost and expense.