Ship Construction Agreement

The latest edition of this contract is SHIPTERM S, published in 2018. The copyright on SHIPTERM S belongs to BIMCO. 11. In order to ensure the effectiveness of the Agreement, a binding dispute settlement and enforcement mechanism has been developed to circumvent breaches of the public aid discipline. In this case, and if the infringement were confirmed by the binding judgment of an independent international body, the unlawful aid measure should be removed and the unlawful benefit reimbursed by the shipyard that received it with interest (“remedy”). If the government does not end the aid or if the shipbuilder does not reimburse the illegal service, “sanctions” could be authorized. These problems have existed for a long time and serious crises, as in the 1970s and 1980s, have particularly highlighted them, which has led OECD governments to develop policy responses to one of the causes of distortions of competition, namely subsidies: a general orientation for government policy in the shipbuilding sector (first negotiated in 1969), a general orientation for government policy in the shipbuilding sector (1972). and General Guidelines for Government Policy in the Shipbuilding Sector (1976) have been completed over the years. .