Engagements › Aegean Crest Shipping › Draft agreement: Ship management of the bulk carriers
Draft Agreement From The Policy
Ship management of the bulk carriers. Every clause is drafted from the transfer pricing policy and the functional analysis, and says where it came from. Anything the file does not settle is left open, in brackets.
Shared services agreement
Between Aegean Crest Ship Management Ltd (the Provider) and Aegean Crest Navigation Inc. (the Recipient).
Source: Transaction record
1. The services
The Provider supplies the services described in Schedule 1. The Recipient decides which services it orders; the Provider decides how they are delivered.
Source: Functional analysis: who decides what and how
2. Remuneration
The Recipient pays the Provider's costs of the services plus a mark-up of 6.00% on those costs.
Source: Group transfer pricing policy §2
3. Payment
Invoices are payable within 30 days.
Source: Group transfer pricing policy
4. Risks
[to be agreed: no risk analysis in the file]
Source: Functional analysis, risks · open point
5. Arm's length
The parties intend the terms to be at arm's length and will adjust them if a review shows they are not.
Source: OECD Guidelines 1.6; Income Tax Law s.33(6)
6. Term and law
Effective from 1 January of the year; [term, termination and governing law to be agreed by the parties].
Source: Not in the file · open point
Sign-Off
ReviewedVerifiedConfirmedNext: Reviewed, by a team member. Choose a person under View As to sign.
Evidence still outstanding: Accounts for 2022, 2023 and 2024 for every Cyprus company, due 12 Nov 2026 — in 5 days.
Evidence still outstanding: Tonnage tax certificates for the owners and the manager, due 12 Nov 2026 — in 5 days.
Evidence still outstanding: Board minutes showing management and control in Limassol, due 17 Nov 2026 — in 10 days.
Signing is still open: say in what you looked at how the conclusion stands without it.
Hash
Content hash84238588a757 · a change to it reopens every sign-off