Revision of ICOMIA Superyacht Refit Group Standard Framework Contract (1)
The ICOMIA Superyacht Refit Group,
which represents quality refit, repair and maintenance yards, has
launched the latest revision of its Standard Framework Contract.
Developed by the Refit Group in conjunction with prominent
international marine lawyers, the Contract addresses matters such
as performance, subcontracting, redelivery, liability, warranty and
insurance and speeds up the process of contractual settlement.
"The ICOMIA Superyacht Refit Group Standard Framework Contract
has achieved widespread use within the refit sector with hundreds
of contracts representing over 100M€ already issued. It's
acceptance by the major management and insurance companies coupled
with the increasing number of industry leading ICOMIA Refit Group
members is testament to the fact that the original contract was a
huge step forward in the professionalism of the refit industry and
we hope that the release of this update strengthens its position as
an industry wide de facto sector standard" explains Rob Papworth,
ICOMIA Superyacht Refit Group chairman.
The motivation for the establishment
of the Refit Group was to improve the owner's experience of refit
by increasing professionalism in the sector with the leading yards
coming together to both set the agenda and take a prominent
leadership role in addressing issues. Therefore in addition to the
Contract, Refit Group members conform to a unique Code of Practice,
which brings certainty to refit and eases the owner's concerns on
how their yacht's refit will be managed and the quality that will
ICOMIA Superyacht Refit Group members
consist of Amico & Co, Astilleros de Mallorca, Blohm + Voss,
Compositeworks, Huisfit (Royal Huisman), Lusben, Marina Barcelona
92, Monaco Marine, NCP-Repair Shipyard Šibenik Ltd, Nobiskrug GmbH
and Pendennis Shipyard Ltd.
Visit www.superyacht-refit.com for more information.
The Refit Group can also be found on