With respect to the payment of these ongoing services, the arbitrators decided that the standard royalty terms in the lay-up contract would not apply after termination; even if they did, the facility could not argue for the unilateral increase it had imposed, since that increase would not have been authorized by the treaty, thereby limiting the possibility of increased inflation and costs. However, the arbitrators found that the terms of the contract that allowed the institution to recover its “expenses and expenses” in the event of non-compliance with the order to remove the vessels after the installation had ended were still in effect. The Agreement (including the Privacy Policy and other documents or policies included in these Terms and Conditions) is the whole agreement between you and us regarding your use of relevant services and replaces all documentation, information and other communications (in all cases, whether spoken or written) between us regarding this access and use. To the most legal extent, you agree to receive the agreement or part of it, as well as any other agreement, communication or communication (“communications”) regarding your customer account and electronic use of the Services. Electronic communications can be published on the website and/or sent to the email address we have registered for you. Please print a copy of each message and keep it for your recordings. (www.MaritimeCyprus.com) It is unfortunately a sign of the times that ships enter the Layup. A useful form for such cases is the BIMCO “LAYUPMAN” contract, which is primarily intended for vessels placed on board in cold layup with a minimum or no owner personnel. The contract provides for the process of deactivation upon arrival at the Layup site, involving both ship personnel and managers, as well as the reactivation process at the end of the Layup period. The contract complies with the 2009 Shipman Management Contract. It is important that you understand that you are not automatically entitled to a customer account or the use of our services.

Your application for a customer account and the use of our services is an offer from us to conclude an agreement with us for the provision of our services. This means that we are not required to accept your request and we reserve the right to (i) deny you a customer account or (ii) to deny you access to certain services available to you.