What is charter party explain the main clauses of a charter party?
A charterparty (sometimes charter-party) is a maritime contract between a shipowner and a “charterer” for the hire of either a ship for the carriage of passengers or cargo, or a yacht for pleasure purposes. Charter party is a contract of carriage of goods in the case of employment of a tramp (charter boat).
What are the clauses of time charter party?
Main contents of a time charter: Ship Clause: the two parties must agree on and specify the chartering and chartering of the ship, such as the name of the ship, the ship’s economic and technical characteristics, the time and place of delivery and receipt.
What is deviation in charter party?
Deviation clause is a standard protecting clause giving the vessel the liberty to call at any port or ports in any order, for any purpose, to sail with or without pilots, to tow and/or assist vessels in all situations, and also to deviate for the purpose of saving life and/or property.
What is redelivery clause in charter party?
Again, under English law, if redelivery takes place after the maximum charter period has expired due to either a legitimate or illegitimate last voyage order, the owners can claim hire for the overrun period at the prevailing market rate, if higher than the charter rate. This position is reflected in the clause.
What are the three charter agreement being practiced today?
The contract between the parties is called a charterparty (from the French “charte partie”, or “parted document”). The three main types of charter are: demise charter, voyage charter, and time charter.
What is ice clause in charter party?
Under the BIMCO Ice Clause for Voyage Charter Parties, in the event that ice impedes the vessel from arriving at the loading port, the Clause now contains three options for the charterers: (1) nominate an alternative safe and accessible port; (2) agree to reckon laytime as if the port were accessible; or (3) declare …
What are the three type of charter party agreement being practiced today?
Voyage Charter, Time charter, Demise charter There are different ways in which a charterer can charter (Hire) the vessel.
What are the characteristics of charter party?
Charter Party is a bilateral maritime freight contract widely used for maritime transport. In Charter Party contracts, some clauses may be defined: freight value, payment method, port of origin and destination, dispatch, demurrage, type and quantity of the cargo to be transported, etc.
What are liberty clauses?
Charter parties often contain so-called “liberty clauses”, or deviation clauses, according to which “[a] ship has liberty to call at any port, in any order, for any purpose, to sail without pilots, tow or assist vessels for all purposes and to deviate from the route for the purpose of saving life and/or property.” ( …
What is the difference between reasonable deviation and unreasonable deviation?
When a vessel leaves its intended route to aid another vessel in distress, the deviation is usually held reasonable. When cargo is stowed on deck without the shipper’s approval and in the absence of a port custom for stowing such cargo on deck, the deviation is usually held unreasonable.
What is redelivery of vessel?
Redelivery takes place under a time charter when the charterer’s use of the ship comes to an end and it is once again at the disposal of the owner. As there is no physical transfer of possession, an owner has to rely upon notification from the charterer that the ship has been redelivered.
What is AWRP in shipping?
The development has come after seas close to the country’s western coast were removed from the list of the High Risk Areas (HRA) for piracy. About 22,000 ships, that called on Indian ports between 2010 and 2015, paid an estimated additional war risk premium (AWRP) of about Rs 8,500 crore.
What is a charter agreement?
A charter agreement is a formal contract outlining your business relationship with another person or company. These agreements can be used for many purposes, including hiring employees, buying and selling goods and services, working together on projects, starting joint ventures, etc.
What is disponent owner in shipping?
A shipowner, disponent owner, and carrier may be the same person when an individual owns the ship and, at the same time, exercises navigation and releases his own bills of lading to shippers through his agency network.
Who are the two principles involved in negotiating a charter party?
Negotiating must be conducted with care and accuracy. There must be complete agreement on all the terms and details between the two principals for an enforceable contract to come into being.
What is the difference between bill of lading and charter party?
While the charterparty is that document which embodies the written form of the vessel’s charter agreement, containing the terms and conditions which govern the relationship between the shipowner and the charterer, the bill of lading is that transport document which relates to the cargo carriage, governs the …
What is charter agreement?
What are examples of liberty?
Liberty is defined as freedom from captivity or control. An example of liberty is the ability to go where you want, do what you want and say what you want.
What does Charter-Party mean?
Charter-Party Sample Clauses Top Definition for Charter-Party Charter-Party means the agreement between the owner of a vessel and the party hiring the vessel for use of the vessel in transporting a cargo. See All Charter-Party definitions
What are liberty and deviation clauses?
Liberty and deviation clauses were originally introduced to provide for a liberty to deviate for the purpose of obtaining bunkers (in addition to deviation for the purposes of saving life and property permitted under common law); however, over time other types of deviation have become accepted practice.
Does Liberty and deviation clause guarantee P&I Club cover?
This issue is of particular importance in the context of contracts of affreightment. However, as noted above, this revised Liberty and Deviation Clause comes with the caveat that incorporating the clause into a contract of carriage does not guarantee P&I Club cover in respect of the specified events.
When must a seller provide a copy of the Charter Party?
If the Bill /s of Lading refer /s to a Charter Party then, if required by Buyers, Sellers shall provide a copy of the Charter Party. CHARTER PARTY. 9.