ABSTRACT
Clause 18 of Saleform 2012 is an entire agreement clause and has not featured in previous editions of Saleform.
Each edition of Saleform (including Saleform 2012) has described itself as a “Memorandum of Agreement ”. Originally, the use of the word “Memorandum” reflected the fact that the Saleform recorded terms agreed between the parties at an earlier date, normally at the recap stage or between the recap and signature of the sale contract. While it is still the case that ship sale contracts are often a documentary record of the terms previously agreed between the buyer and the seller, many ship sale contracts are negotiated from the outset using Saleform or one of the other leading standard forms.
