Institutional system of execution of cross-border leasing agreements; legal assessment of bareboat charter conditions

Abstract

This article is devoted to the variety of legal relationships in the system of cross-border relations between charterers and charterers of ships. Leasing in the global shipping industry takes on a variety of forms, depending on the sources of financing. The current state of the market is conducive to taking advantage of bareboat charter, known for its inherent tructurality, as well as the legal rigor with which the contracts are qualified for real and consensual. The systematic nature of its regulations concerning the conflictof-laws aspects of the form and procedure for concluding a transaction is reflected in international standards prepared by BIMCO and BARECON, which, however, does not interfere with the self-sufficiency of leasing companies, in this regard, especially if they consider bareboat charter as a source of attracting fixed assets. The need for their depreciation, payment of intangible assets also makes the practice of insurance relevant. Keywords: leasing transaction, vessel chartering, ex