Common use of Method of Acceptance or Rejection Clause in Contracts

Method of Acceptance or Rejection. (a) Upon completion of the trial run, the BUILDER shall give the BUYER a notice in writing of completion, if the BUILDER considers that the results thereof demonstrate that the VESSEL conforms to this Contract and the Specifications. The BUYER shall, within 24 hours after receipt of such notice, notify the BUILDER in writing of its acceptance or rejection of the VESSEL. (b) If the results of the trial run demonstrate that the VESSEL or any part or equipment thereof does not conform to the requirements of this Contract or the Specifications, or the BUILDER agrees to the BUYER’s notice of rejection, the BUILDER shall take all necessary steps to correct such non-conformity. If necessary, a further trial run shall be carried out and new notice issued in accordance with (a) above. (c) If the BUYER for any reason rejects the VESSEL, the BUYER shall in his written notice of rejection give particulars of its reason therefore in such detail as can be reasonably required. (d) If the BUILDER disputes the rejection by the BUYER, the case shall be submitted for final decision by arbitration in accordance with Article XVIII hereof, unless the Parties agree otherwise. (e) Failure in responding to the notice given under (a) above shall be deemed as acceptance of the VESSEL. Ulstein Verft AS X.X. Xxx 000, X-0000 Xxxxxxxxxx, Xxxxxx Tel. +00 0000 0000. Fax +00 0000 0000 Ent. No: 912 447 561 xxx.xxxxxxx.xxx

Method of Acceptance or Rejection. (a) Upon completion of the trial run, the BUILDER shall give the BUYER a notice in writing of completion, if the BUILDER considers that the results thereof demonstrate that the VESSEL conforms to this Contract and the Specifications. The BUYER shall, within 24 hours after receipt of such notice, notify the BUILDER in writing of its acceptance or rejection of the VESSEL. (b) If the results of the trial run demonstrate that the VESSEL or any part or equipment thereof does not conform to the requirements of this Contract or the Specifications, or the BUILDER agrees to the BUYER’s notice of rejection, the BUILDER shall take all necessary steps to correct such non-conformity. If necessary, a further trial run shall be carried out put and new notice issued in accordance with (a) above. (c) If the BUYER for any reason rejects the VESSEL, the BUYER shall in his written notice of rejection give particulars of its reason therefore in such detail as can be reasonably required. (d) If the BUILDER disputes the rejection by the BUYER, the case shall be submitted for final decision by arbitration in accordance with Article XVIII hereof, unless the Parties agree otherwise. (e) Failure in responding to the notice given under (a) above shall be deemed as acceptance of the VESSEL. Ulstein Verft AS X.X. Xxx 000, X-0000 Xxxxxxxxxx, Xxxxxx Tel. +00 0000 0000. Fax +00 0000 0000 Ent. No: 912 447 561 xxx.xxxxxxx.xxx

Method of Acceptance or Rejection. (a) Upon completion of the trial run, the BUILDER shall give the BUYER a notice in writing of completion, if the BUILDER considers that the results thereof demonstrate that the VESSEL conforms to this Contract and the Specifications. The BUYER shall, within 24 hours after receipt of such notice, notify the BUILDER in writing of its acceptance or rejection of the VESSEL. (b) If the results of the trial run demonstrate that the VESSEL or any part or equipment thereof does not conform to the requirements of this Contract or the Specifications, or the BUILDER agrees to the BUYER’s notice of rejection, the BUILDER shall take all necessary steps to correct such non-conformity. If necessary, a further trial run shall be carried out put and new notice issued in accordance with (a) above. (c) If the BUYER for any reason rejects the VESSEL, the BUYER shall in his written notice of rejection give particulars of its reason therefore in such detail as can be reasonably required. (d) If the BUILDER disputes the rejection by the BUYER, the case shall be submitted for final decision by arbitration in accordance with Article XVIII hereof, unless the Parties agree otherwise. (e) Failure in responding to the notice given under (a) above shall be deemed as acceptance of the VESSEL. Ulstein Verft AS X.X. Xxx 000, X-0000 Xxxxxxxxxx, Xxxxxx Tel. +00 0000 0000. Fax +00 0000 0000 Ent. No: 912 447 561 xxx.xxxxxxx.xxxxxx.xxxxxxx.xxx Shipbuilding Contract