Remuneration for managing a vessel for a ship owning client is the management fee as agreed between both parties and stated on the ship management agreement. The usual form of agreement between ASM and an owner is the BIMCO standard ship management agreement “Shipman98”
- No other form of payment is obtained by ASM for the specified management worked undertaken on behalf of a client ship owner.
- At any time during the period of the management agreement the owner of a vessel has the right to request any information concerning the management of the vessel and all such information will be made readily available to the owner.
- ASM shall at all times maintain and keep true and correct accounts and shall make the same available for inspection and auditing by the owners at such times as may be mutually agreed.
- The owner of a vessel is at liberty to inspect all records relating to his vessel.
- No information shall be unreasonably withheld from an owner by ASM.