Terms & Conditions

These General Terms & Conditions govern the provision of shipbrokerage services by SBS Ayrshire Limited, a company incorporated in Scotland under company number SC279451, trading as SBS Marine Solutions (referred to in these terms as 'SBS', 'we', 'us', or 'our'). By engaging SBS — whether verbally, in writing, or by conduct — the client accepts these terms.

These terms apply unless expressly varied or superseded by a separate written mandate agreement signed by both parties.

SBS Marine Solutions acts as a commercial shipbroker and marine adviser. Unless otherwise agreed in writing, all engagements are non-exclusive — the client retains the right to engage other brokers simultaneously, and SBS Marine Solutions retains the right to act for other principals.

SBS Marine Solutions may act as buyer's broker, seller's broker, central agent, or as a neutral intermediary, depending on the mandate. The nature of the agency will be confirmed in writing at the outset of each engagement.

SBS Marine Solutions operates on a commission-only basis. No fees are charged for initial consultations, market appraisals, or sourcing activity. Commission becomes due only upon the successful conclusion of a transaction — defined as the signing of a binding Memorandum of Agreement (MoA), charter party, or equivalent contract.

The applicable commission rate will be agreed in writing prior to commencement of any active mandate. Industry standard BIMCO brokerage commission terms apply unless otherwise specified. No cure, no pay — if the transaction does not complete, no commission is owed.

Where a transaction completes after the termination of a mandate but arises directly from introductions made by SBS Marine Solutions during the mandate period, commission remains payable. The tail period is 12 months from mandate termination unless otherwise agreed.

SBS Marine Solutions facilitates negotiations using industry-standard documentation: Norwegian Saleform (NSF 2012 or current edition), BIMCO standard charterparties, and BIMCO Newbuilding Contract, as appropriate to the transaction type.

SBS Marine Solutions does not provide legal advice. Clients are responsible for obtaining independent legal counsel before executing any binding contract. SBS Marine Solutions accepts no liability for the legal validity or enforceability of any contract between the principals to a transaction.

All information exchanged in the course of a brokerage engagement — including vessel specifications, pricing indications, owner identities, and client requirements — is treated as confidential and disclosed only to the extent necessary to progress the mandate.

SBS Marine Solutions will not disclose the identity of a buyer or seller to the counterparty without consent, except where required to complete a transaction or comply with applicable law.

This obligation of confidentiality survives termination of the engagement.

By engaging SBS Marine Solutions, the client warrants that: (a) it has full legal capacity and authority to enter into the proposed transaction; (b) it is not subject to any sanction, embargo, or restriction that would prevent it from completing the transaction; (c) all information provided to SBS Marine Solutions is accurate and complete to the best of the client's knowledge; and (d) the intended use of the vessel complies with applicable law and regulation.

If any of these warranties prove to be incorrect, the client shall indemnify SBS Marine Solutions against any resulting loss, liability, or expense.

SBS Marine Solutions' liability to any client in respect of any single mandate shall not exceed the commission earned on that mandate. SBS Marine Solutions shall not be liable for any indirect, consequential, or special loss arising from the provision of brokerage services.

SBS Marine Solutions is not liable for the accuracy of vessel information provided by owners, builders, or other third parties. Clients are responsible for conducting independent due diligence, including physical inspection and survey, before completing any transaction.

SBS Marine Solutions complies with all applicable UK, EU, and UN sanctions regimes. We will not facilitate transactions involving sanctioned parties, vessels, or jurisdictions. Clients must promptly notify SBS Marine Solutions of any change in circumstances that may affect sanctions compliance.

Either party may terminate a mandate on 14 days' written notice. Termination does not affect the client's obligation to pay commission on transactions that arise from introductions made during the mandate period (see Clause 3 — Commission).

SBS Marine Solutions may terminate a mandate immediately if the client acts in breach of these terms, provides materially false information, or engages in conduct that SBS Marine Solutions considers to be unethical or in breach of applicable law.

These terms and any dispute arising from them are governed by the law of Scotland, United Kingdom. Any dispute that cannot be resolved by negotiation shall be submitted to the exclusive jurisdiction of the Scottish courts.