Commercial Management Services Sample Clauses
The Commercial Management Services clause defines the scope and responsibilities related to the management of commercial aspects within a contract. Typically, this clause outlines the specific services to be provided, such as overseeing budgets, managing supplier relationships, handling invoicing, and ensuring compliance with commercial terms. By clearly delineating these duties, the clause helps ensure that all parties understand who is responsible for the financial and administrative management of the project, thereby reducing the risk of disputes and promoting efficient contract execution.
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Commercial Management Services. Manager shall provide following commercial management services:
5.01 Manager shall have the authority to fix voyage charters in accordance with the trading restrictions defined in Clause 5.05. Manager will provide Owner with a fixture note of each voyage via the website and email.
5.02 Subject to Owner’s consent on a case-by-case basis or pursuant to specific guidelines provided by Owner, Manager may negotiate period charters for the employment of the Vessel. Manager shall not enter into charters exceeding three (3) months without Owner’s prior consent.
5.03 Except for voyage charters, Manager shall seek Owner’s prior written approval for fixtures of the Vessel.
5.04 Fix the Vessels and Manager’s other managed vessels (each an “Other Vessel”) in a fair manner. It is understood that when there appear to be a conflict of interests between the Vessels and an Other Vessel, then the latter will take precedence.
5.05 Manager will use due diligence to ensure that the Vessels will be employed between safe ports, safe anchorages and safe berths, so far as this can be established by exercising due diligence. The Vessels shall not be traded to Cuba, war and/or war like zones, Haiti, or Orinoco River, Albania, Turkish occupied Cyprus, Yugoslavia, Croatia, Slovenia, North Korea, and US/UN prohibited countries without Owner’s express written agreement. The exclusions established by the Vessels’ leading Hull Underwriters, Institute Warranties, American Institute Underwriter and the American Institute Trade Warranties will form part of this Agreement. Manager will include in the Charter Parties and an appropriate War Risks Clause, Clause Paramount and any other Owner’s protective clauses where applicable in accordance with the custom of trade. Any clauses in Charter parties believed to be detrimental to Owner’s interest but insisted by charterers for inclusion should be discussed with Owner for approval.
5.06 Manager shall use best endeavors to promote and market the Vessels in the carriage of petroleum products.
5.07 To arrange the scheduling of the Vessels according to the terms of the Vessels’ employment.
5.08 To carry out all necessary communications with shippers, charterers and other involved with their receiving and handling of the Vessels at the loading and discharging ports, including notices required under the terms of the Vessels’ employment.
5.09 On behalf of and in the name of the Owner to issue or cause to be issued to shippers customary bills of lading or o...
Commercial Management Services. Commencing with the acquisition of each Vessel by any Company Group Member, the Manager shall administer the Charters and monitor payment to any Company Group Member or its nominee of all hire, freight revenues or other moneys to which the Company may be entitled arising out of the Charter or other employment of that Vessel (the “Commercial Services”).
Commercial Management Services. SALE AND PURCHASE
6.01 The Manager shall identify vessels for purchase, perform class records review and physical inspection and make recommendation to the Owner as to whether any vessel should be bought. Any costs incurred by the manager for inspection of such vessels for possible purchase to be fully reimbursed by the owner.
6.02 After approval has been granted by the company for the purchase of the identified vessel, the Manager shall on behalf of the owners proceed to purchase same under the best possible terms and conditions in accordance with industry standards.
6.03 The Manager shall perform all functions necessary to allow owners to take physical delivery of the vessel and proceed with commercially managing same.
6.04 The Manager shall also sell vessel(s) on behalf of the Company at the Company’s request.
6.05 The Manager shall proceed to market the vessel for sale, solicit offers, negotiate the sale of any Owner’s vessel under the best possible terms and conditions in accordance with industry standards.
6.06 The Manager shall perform all functions necessary to enable the Owner to physically deliver the vessel to her contractual buyer. * CHARTERS
6.07 Seek and negotiate employment for the Vessel under voyage or period charter or under any other form of contract and on behalf of the Owner to approve, conclude and execute any such contract. If such a contract exceeds a period of more than 12 months, consent thereto in writing shall first be obtained from the Owners. RIDER CLAUSE to 6.07 In the event that the Manager is managing any container ships that are not owned by the Owner, the Manager agrees that consistent with the availability, suitability and positioning of the Owner’s vessels, any chartering contract of a duration of six months or more will be offered in the first instance to container vessel/s operated by the Owner.
6.08 The Manager shall have the authority to fix voyage charters in accordance with the trading restrictions defined in Clause 6.10.
6.09 Fix the Vessel and Manager’s other managed vessels (each an “Other Vessel”) in a fair manner.
6.10 The Manager will use due diligence to ensure that the Vessel will be employed between safe ports, safe anchorages and safe berths, so far as this can be established by exercising due diligence. The Manager will include in the Charter Parties an appropriate War Risks Clause, Clause Paramount and any other Owner’s protective clauses where applicable in accordance with the custom of trade.
Commercial Management Services. Commencing with the acquisition of each Vessel by any Company Group Member and subject to Section 2.5, the Manager shall provide all usual and customary commercial management services with respect to such Vessel, including the following (collectively, the “Commercial Management Services”):
(a) marketing and promoting the Vessel;
(b) identifying, negotiating and securing Charterers and Charters and other employment for the Vessels for and on behalf of the relevant Company Group Member;
(c) monitoring proper payment to any Company Group Member or its nominee of all hire and freight revenues or other moneys of whatsoever nature arising out of the employment of the Vessel or otherwise in connection with the Vessel to which the Company or any Company Group Member may be entitled;
(d) providing voyage estimates and accounts and calculating and invoicing of hire, freights, demurrage and dispatch moneys due from or due to the Charterers of the Vessel;
(e) administering the Charters; and
(f) taking all other actions relating to commercial management of the Vessel as the Manager deems necessary to fulfill its obligations under this Agreement.
Commercial Management Services. The Manager shall provide certain chartering services to the Group for each of the Vessels (collectively referred to herein as the “Commercial Management Services”), including, but not limited to:
(a) administering the Charters;
(b) providing voyage estimates and accounts and calculating of hire, profit share, freights, demurrage and/or dispatch moneys due from or due to the Charterers;
(c) monitoring the payment to the Company or the Vessel Owners or their nominees of all hire, profit share, freight revenues or other moneys to which the Company or the Vessel Owners may be entitled arising out of the Charter or other employment of the Vessel;
(d) furnishing the Crew of each Vessel with appropriate voyage instructions and monitoring voyage performance while using commercially reasonable efforts to achieve the most economical, efficient and quick dispatch of each Vessel between ports and at ports and terminals, if required;
(e) using due diligence, to ensure that each Vessel will be employed between safe ports, safe anchorages and safe berths, so far as this can be established by exercising due diligence, provided that the Manager shall only be required to exercise commercially reasonable efforts for such purpose;
(f) arranging the scheduling of each Vessel according to the terms of the Vessel’s employment;
(g) carrying out all necessary communications with shippers, Charterers and others involved with the receiving and handling of each Vessel at the loading and discharging ports, including sending any notices required under the terms of each Vessel’s employment; and
(h) preparing off-hire statements and/or hire statements including obtaining port documents and expense supports necessary for such calculation.
Commercial Management Services. 6.01 The Manager shall identify vessels for purchase, perform class records review and physical inspection and make recommendation to the Owner as to whether any vessel should be bought. Any costs incurred by the manager for inspection of such vessel for possible purchase to be fully reimbursed by the owner.
Commercial Management Services. SALE AND PURCHASE
5.01 The Manager shall identify vessels for purchase, perform class records review and physical inspection and make recommendation to the Owner as to whether any vessel should be bought. Any costs incurred by the manager for inspection of such vessels for possible purchase to be fully reimbursed by the owner.
5.02 After approval has been granted by the company for the purchase of the identified vessel, the Manager shall on behalf of the owners proceed to purchase same under the best possible terms and conditions in accordance with industry standards.
5.03 The Manager shall perform all functions necessary to allow owners to take physical delivery of the vessel and proceed with commercially managing same.
5.04 The Manager shall also sell the Vessels or any of them on behalf of the Company at the Company's request.
5.05 The Manager shall proceed to market the Vessels or any of them, solicit offers and to negotiate such sale under the best possible terms and conditions in accordance with industry standards.
5.06 The Manager shall perform all functions necessary to enable the Owner to perform its contractual obligations to the respective buyer.
5.07 With prior consent of the Owner, to institute, defend, intervene in, settle, compromise or abandon any legal proceedings by or against the Owner or by or against any of the Vessels or which in any way concerns any of the Vessels.
Commercial Management Services. The Commercial Management Services shall consist of the following:
(i) The Manager’s reasonable best efforts to seek employment for each of the Vessels and to negotiate, arrange, complete, market, promote and supervise the chartering or other employment of the Vessels and to monitor the employment and location of each Vessel on a regular basis, provided, however, that prior to making any offer relating to a charter contract or other employment arrangement of a Vessel that, if accepted, would result in a binding obligation of the Company or an Owner, the Manager shall communicate with and describe to the Company, or one or more directors of the Company or agent thereof generally designated by the Company to communicate with the Manager in respect of such matters (each, a "Company Designee") the material terms of the proposed offer, charter contract or other employment, and no such charter contract or other such employment arrangement will be entered into, in each case, with respect to any Vessel without the express approval of the Company;
(ii) Arrange for and monitor the proper payment to the Company, Owners or their nominees of all charter hire, freight and other revenues or other moneys of whatsoever nature arising out of the employment of the Vessels or otherwise in connection with the Vessels to which the Company or the Owners may be entitled to;
(iii) Communicate and maintain relations with the charterers of the Vessels and ensure that, to the extent commercially practicable, the requirements of each charterer of a Vessel are met on a continual basis, generally administer the charters of each Vessel and maintain and manage relationships between the Company and shipbuilders, insurers, and other shipping industry participants;
(iv) Act for and on behalf of the Company and each Owner in the negotiation and documentation of appropriate third party technical management agreements (each a “Technical Management Agreement”) between each Owner and one or more third party technical ship managers (each a “Technical Manager”) in which such Technical Managers would provide the technical management services to the Vessels that the Manager, directly or through one or more subsidiaries, does not provide to the Manager Vessels as of the date of this Agreement, provided, however, that each Technical Management Agreement shall be subject to the prior written approval of the Company, and, further provided, that each Technical Management Agreement shall constitute a direc...
Commercial Management Services. The Manager shall provide Commercial Management Services to the Owner which includes, but is not limited to the following functions: