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[Music] in maritime industry there are most common types of charter party agreements a time charter and a voyage chart a voyage charter is a type of charter in which the vessels is leased out to a particular voyage unlike time charter is a time-bound agreement as opposed to a voyage chapter when it comes to payment method employees charter is part of spaces involving paying the owner for every tons of cargo or brake transported on the presence and dumps our bases instead of paying paper tons it is paid in one lot of 10 when the stowage factor is not known or varies payment can be done by down payment and after the shipment has been done while in time charter the payment is calculated either per day per month or per year basis payment can be done by advanced payments and after the time-bound agreement has been done when it comes to responsibilities in crew higher payment to improve and maintenance cost both owner in time charter and voyage charter is responsible in fuel and supply cost
