Agreement to repair a steamship

THIS AGREEMENT made the 	day of  ……….20 ……….between M/s. X Y & Co. Ltd., a Company registered under the Companies Act, 1956 and having its registered office at ....................hereinafter called the Ship owners of the ONE PART and M/s. A B & Co.Ltd., a Company registered under the Companies Act, 1956 and having  its registered office at  ……….hereinafter called the Ship  builders of the OTHER PART.
 
WHEREAS the Ship owners are the owners of a ship named.....................having registration No . ……….with the Registrar ………. hereinafter called the said ship.
 
AND WHEREAS the said ship had collision with another ship named  ……….at ……….on ……….and sustained damages and is now at the dock of .....................
 
AND WHEREAS the Ship owners have settled with the owners of the ship ……….and the insurance company and in terms of the settlement the Ship owners have to get the repairs of the said ship at their own costs and expenses.
 
AND WHEREAS the said Ship owners require that the said ship be repaired so that the said ship can be put in use again.
 
AND WHEREAS the Ship‑builders have agreed to undertake the said repairs on the terms and conditions hereinafter appearing.
 
NOW IT IS HEREBY MUTUALLY AGREED BETWEEN THE PARTIES HERETO AS FOLLOWS:
 
(1)The Ship‑builders will undertake necessary repairs of all the damages caused to the said ship due to collision with best materials and workmanship to the satisfaction of the Ship owner's representatives and the Surveyors.
 
(2) The Ship‑builders will insure the said ship at their costs and  expenses against all risks during the currency of this contract. The  insured value of the said ship is Rs . .................
 
(3) The Ship‑builders undertake that after repairs, the said ship shall pass her No . ……….survey and the seaworthy certificate will be 	obtained from the competent authority.
 
(4) The dock rent from  ……….to ………. all fees of 	and all other charges will be borne by the Ship‑builders. 
 
(5) The Ship‑builders will complete the work and deliver the said  ship free of cost to the Ship‑owners on the  ……….day of  ……….20 ……….If the Ship‑builders are not able to complete the said work by the said	date, they will be liable to pay liquidated damages of Rs . ……….per ……….day for every day if the said ship is not delivered to the Ship owners.
 
(6) The Ship owners will pay a sum of Rs . ……….to the Ship builders for the entire work, out of which a sum of Rs . ……….is being paid to them on the execution of these presents and the balance 	amount of Rs . ……….	will be paid to the Ship‑builders on the delivery of  he said ship duly repaired. If the repairs are completed before the stipulated date, the Ship owners shall pay Rs . ……….per day bonus for every day between the date of delivery and the said day of ...........20 ……….
 
(7) This Agreement shall be executed in duplicate. The original shall be retained by the Ship owners and the duplicate by the Ship builders.
 
(8) The stamp duty and all other expenses of this Agreement and	duplicate thereof shall be borne and paid by the Ship owners

(9) The marginal notes and the catch lines hereto are meant only	for convenience of reference and shall not in any way be taken into account in the interpretation of these presents.
 
IN WITNESS WHEREOF the Ship owners and the Ship‑builders have caused their respective common seals to be hereunto affixed the day, month and year first hereinabove written.
 
WITNESSES	The common seal of the within named Ship owners M/s. X Y Co. Ltd., was hereunto affixed pursuant to the Resolution of its Board of Directors passed on the
1 	day of  ……….20  ……….in the presence of  S/Shri  ……….and  	……….the Directors of  the company, who have signed in token thereof
 
2.	The common seal of the within named Ship‑builders M/s A B & Co. Ltd., 	was hereunto affixed pursuant to the Resolution of its Board of Directors 	passed on the ...........day of 	20 ……….in the presence of S/Shri  	……….a Director of the Company, who has signed in token thereof