The Norwegian Shipbrokers’ Association (NSA) and BIMCO have adopted SALEFORM 2025, an updated version of the widely used international Memorandum of Agreement for the sale and purchase of ships. SALEFORM 2012 has long served as a standard contract in ship transactions worldwide. However, the NSA identified the need for revisions to reflect evolving industry practices and increasingly stringent regulatory and compliance requirements. A joint subcommittee was subsequently formed between BIMCO and the NSA, with the BIMCO Documentary Committee formally adopting the revised text as SALEFORM 2025. The new edition largely retains the established contractual framework but introduces key updates to align with regulatory, operational, and financial developments in the shipping sector. Among the main changes are revised deposit and payment mechanisms that reflect current banking practices. SALEFORM 2025 offers multiple payment execution options, clearer escrow provisions, and safeguards addressing potential delays related to “know your customer” (KYC) and anti-money laundering (AML) procedures. The updated form also provides clearer allocation of responsibilities between buyers and sellers in areas such as inspections, delivery procedures, bunkers, and spares. Enhanced provisions regarding documentation exchange and vessel readiness have been introduced, including strengthened Notice of Readiness rules and more clearly defined termination windows aimed at reducing disputes and facilitating smoother transactions.