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How to limit initials charter

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What is laytime and laycan?

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.

What is a Laycan?

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.

What are the 3 types of charter?

Types of Charters. The three most common types of charter contracts are the voyage charter, the time charter, and the demise (or bareboat) charter.

What is chartering and types of chartering?

Chartering is the term used to name the renting of a whole ship, in an agreement between a shipowner and a renting party, in this case known as charterer, intermediated by a freight forwarder or a shipbroker. The charterer is the individual or organization renting the ship.

What is the difference between Laycan and lay days?

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.

What is the example of Laycan?

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 does bends mean in shipping?

BENDS (Both Ends) Term usually found in a voyage charter party designating responsibility of either the owner or charter at both the loading and discharge port. Example: Charterers agents bends which would mean that Charterers agents would be responsible for vessel agency at both the load and discharge port.

What does LT mean in shipping?

TL? LTL stands for less than truckload and refers to the shipping of a relatively small freight. If the item or items you are shipping will not take up the entire available space on a truck, you are shipping LTL.

How many types of charter are there?

The three main types of charter are: demise charter, voyage charter, and time charter.

What are the different charter parties?

There are three classes of charter parties - the Voyage, the Time, and the Demise or BareBoat.

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