Terms of charter party
Below are the terms of charter party which are required during an
agreement in between a consignor, and a shipowner.
Ø Name of the parties and the ship,
Ø Nationality of the ship,
Ø Class of charter party, and its rating in
the Lloyd’s Register,
Ø A statement on the location of the ship,
and place of loading,
Ø The shipowner’s guarantee of fitness,
Ø The manner in which the voyage is to be
conducted,
Ø The duties of the master or the captain,
Ø The carrying capacity of the ship,
Ø The liabilities of the charterer regarding
the freight,
Ø The expected perils,
Ø The terms regarding loading, unloading, lay
days, demurrage,
Ø Circumstances under which the contract
would be cancelled out, and penalties would be implied due to the
non-performance of the duty etc.
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