Charter Party Agreement
A Charter Party Agreement is a contract between a shipowner and a charterer for the hire of a vessel. It outlines the terms and conditions of the charter, including the duration of the charter, the freight rate, the loading and discharging ports, and the responsibilities of both parties. There are different types of Charter Party Agreements, such as time charter, voyage charter, and bareboat charter, each with its own specific terms and conditions. The Charter Party Agreement is a crucial document in the maritime industry, as it governs the relationship between the shipowner and the charterer and ensures that both parties fulfill their obligations.
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