Consolidate initials charter easily

Aug 6th, 2022
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How to consolidate initials charter

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Laydays and canceling are often called the laycan; they represent the period within which the vessel must be presented at the agreed port or place. If the vessel arrives before the first day of the period, the charterers do not have to accept her until commencement of the agreed laydays.
The term laycan is frequently used in sale contracts to refer to the delivery period of the cargo. However, laycan is a charterparty term, referring to the period during which the vessel must arrive at port.
Laycan is an abbreviation for the Laydays and Cancelling Date clause in a charter party. This clause defining the time window in which the charterers are obliged to accept the vessel in the loading port.
Types of Charters. The three most common types of charter contracts are the voyage charter, the time charter, and the demise (or bareboat) charter.
CP Charter-Party Document containing all the terms and conditions of the contract between a shipowner and a charterer, and signed by both parties or their agents, for the hire of a ship or the space in a ship.
BAREBOAT CHTR = Bareboat Charter Owners lease a specific ship and control its technical management and commercial operations only.
Laycan or L/C - Laydays Canceling - Period during which the shipowner must tender notice of readiness to the charterer that the ship has arrived at the pod of loading and is ready to load, This period is expressed as two dates, for example laydays 25 March canceling 2 April or, when abbreviated as laycan, laycan 25
What is Laycan. Laydays refers to a period of specified days (e.g. Jan 7/16) during which owners must present the vessel for loading. Laydays should not be confused with laytime, which is the period allowed to the charterers for loading and/or discharging without payment additional to the freight.

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