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The standard charterparties are commonly used as a basis for negotiation between shipowners and charterers, allowing them to tailor the terms and conditions to their specific needs while relying on a well-established and recognized foundation.
What is a charter agreement?
In this article, we discuss the main types of charterparties. Time charter. Under a time charter, a shipowner leases a vessel with a master and a crew for a fixed period. Bareboat charter. Voyage charter. Slot charter. Shipowner, Registered owner, Disponent owner and Head Charterer. About Fortior.
What is an example of a charter party?
A charter party can offer significant advantages to exporters, especially in scenarios where multiple shippers want to transport same goods to a common destination, utilizing the full loading capacity of a ship. This arrangement often results in more cost-effective pro rata compared to traditional freight contracts.
What is the meaning of charter party agreement?
Related Content. A contract for the hire or lease of a vessel (such as a ship or aircraft) made between the vessel owner and a charterer. A vessel can be rented in full or in part, either for specified voyages (a voyage charter) or for a defined period (a time charter).
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by RT Keenan Cited by 6 CHARTER PARTY. A Charter Party or Charter is defined as a specific contract by which the owner of a ship lets the whole or principal part to another person
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