Ship Broker Agreement

`Representative` means a person or undertaking, including, but not limited to, a ship manager, a rental service, a broker or other agent who is not a principal but who participates in negotiations on behalf of a principal. 5.11 Where ancillary services are provided by the Company, the Customer is obliged to pay a fee that has been expressly agreed, or, in the absence of an agreement, a reasonable fee based on the prior business history of the parties (if any) or in the absence of relevant activity, in accordance with market practice. BIMCO has expanded its Term Sheet Suite for ship financing by introducing SHIPLEASE, a first standard for the sale of ships and leaseback throughout the industry. SHIPLEASE is an indicative roadmap for use in operating and financing leasing. as provided for in the commission clause or any other agreement in the contract concluded between the customer (or his contracting entity) and a third party; or 5.6 You warrant that you are not aware of the reason why the gambling may be illegal or what the provision of the Services by the Broker may provide in violation of relevant law, including but not limited to (i) sanctions imposed by the United Nations, the European Union, the United States of America or a national government that has authority over you, the broker, representative or principal (ii) money laundering, corruption and corruption laws. You will immediately and completely inform the broker of any reason of which you are aware.. . .

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