
BIMCO publishes first standard-form quiet enjoyment letters for ship financing
Charterers are increasingly requesting to receive quiet enjoyment letters (“QELs”) from the mortgagees of chartered vessels. As there has not been any standard format for QELs, owners have often found themselves caught in the middle of protracted negotiations between the charterers and the mortgagees when QELs are requested. To meet the longstanding need for a standard format acceptable to charterers, mortgagees and owners, BIMCO published two standard form QELs on 21 February 2024.