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What is a charter party agreement?
Charter Party Agreement means the charter, lease or other agreement that Seller as the charterer, enters into with the owner of the Vessel for transporting a Cargo of the Product under the terms of this Agreement.
What is Charter Party document?
A charter party is a document of contract by which a shipowner agrees to lease, and the charterer agrees to hire, a vessel or all the cargo space, or a part of it, on terms and conditions forth in the charter party.
What is Charter Party in shipping?
Charter party, contract by which the owner of a ship lets it to others for use in transporting a cargo. The shipowner continues to control the navigation and management of the vessel, but its carrying capacity is engaged by the charterer.
What is Charter Party explain the main clauses of a charter party?
When there is an agreement or contract to carry some goods or provide a ship for carrying the same, a document called charter party contains the contract of affreightment. By this document the ship owner lets the ship for the purpose of carrying the cargo or undertakes to carry the full cargo on the ship.
What is a charter agreement?
Charter Agreement means a lease or agreement to hire a vessel or other.
What is a time charter agreement?
A time charter - is a contract for the hire of a named vessel for a specified period of time. i) The charterers agree to hire from the shipowner a named vessel, of specified technical characteristics, for an agreed period of time, for the charterer's purposes subject to agreed restrictions.
What is the meaning of time charter?
A time charter is the hiring of a vessel for a specific period of time. the owner still manages the vessel but the charterer selects the ports and directs the vessel where to go. The charterer pays for all fuel the vessel consumes, port charges, commissions, and a daily hire to the owner of the vessel.
What is a bareboat charter agreement?
A bareboat charter or demise charter is an arrangement for the chartering or hiring of a ship or boat, whereby no crew or provisions are included as part of the agreement. instead, the people who rent the vessel from the owner are responsible for taking care of such things.