Maritime Affreightment
Maritime Affreightment refers to the contract between a ship owner and a charterer, where the ship owner agrees to transport the charterer's cargo to a specified destination within a given time frame. This contract is also known as a charter party. The charterer pays freight for the space occupied by their cargo, and the ship owner provides the vessel, crew, and covers the costs of operating the ship. The terms of affreightment can vary widely, depending on the nature of the cargo, the route, and other factors. The contract may stipulate that the ship owner is responsible for loading and unloading the cargo (a 'liner' or 'service' contract), or this responsibility may fall to the charterer (a 'voyage' or 'time' charter). Maritime Affreightment is a crucial aspect of international trade, as it enables the efficient and cost-effective transportation of goods across the world's oceans.
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