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Tanker Time Charter Party VELATIME3 - Fate Offshore Sdn 2026

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The document is a Tanker Time Charter Party agreement between the Owner of a vessel and Vela International Marine Limited as the Charterer. It outlines the terms for hiring the vessel for transporting crude petroleum and its products, including details on the charter term, extensions, vessel condition, hire payments, deductions, off-hire conditions, warranties, and responsibilities of both parties. The agreement also covers aspects such as insurance, compliance with regulations, and procedures for cargo handling and discharge.

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Click ‘Get Form’ to open the Tanker Time Charter Party VELATIME3 document in the editor.
Begin by filling in the 'Owner' and 'Vessel' fields at the top of the form. Ensure that you provide accurate names as these are critical for legal identification.
In the 'TERM' section, specify the 'Original Period' and any potential extensions. Use clear dates and durations to avoid ambiguity.
Proceed to the 'DESCRIPTION AND CONDITION OF VESSEL' section. Here, ensure that all details match those in Attachment A, including compliance with inspection reports.
Fill out the 'HIRE' section with payment rates and account details for hire payments. Double-check currency specifications to prevent errors.
Review all sections thoroughly before finalizing. Utilize our platform's features to highlight or comment on areas needing attention or clarification.

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