FOFFER
FOFFER stands for Firm Offer. It is a term used in the maritime industry to describe a binding offer made by a shipowner or operator to a charterer. The offer includes all the terms and conditions of the charter, including the freight rate, laytime, and demurrage. Once the charterer accepts the FOFFER, it becomes a legally binding contract between the two parties. The FOFFER is usually valid for a limited time, and if the charterer fails to accept it within the specified period, the shipowner or operator can withdraw the offer and make it to another party.
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