—The BIMCO/ISU Standard form Contracts for Wreck Removal and Marine Services: “Wreckhire 2010’’; “Wreckstage 2010” and “Wreckfixed 2010’’

References in this chapter to ‘‘Wreckhire’’ are to the new 2010 form unless otherwise indicated.

(ii) ‘‘Wreckstage 2010’’: or ‘‘International [etc.] Agreement (Lump Sum-Stage Payments)’’. The services to be performed by the contractor are to be paid for on a lump sum basis as with the services performed under ‘‘Towcon’’ and ‘‘Salvcon’’. Specific provision is made for the lump sum to be earned and to become payable in a series of stages. The system of adopting stages for part payment of a lump sum is in common use under both of the ‘‘Towcon’’ and ‘‘Salvcon’’ forms where the nature of the services makes this desirable, usually from the contractor or tug owner’s commercial viewpoint rather than from that of the hirer. What ‘‘Wreckstage’’ does is to provide, as part of the standard form itself and in the scheme of the contract form, for a series or programme of stages and stage payments for the service, the subject of the contract. ‘‘Wreckstage 2010’’ replaces the old BIMCO ‘‘Wreckcon’’ form which dated from 1993.