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A charter agreement is a contract between a vessel owner and a merchant or individual for the transportation of goods or passengers. The agreement can be for a fixed time or journey, and includes provisions for fuel and crew. The owner has control over the vessel, and the cargo owner chooses the destination. A charter-in agreement lists the vessel, captain, and cargo owner, with compensation for delays.
A charter agreement is a type of contract between the owner of a vessel and a merchant or private individual. According to its provisions, the shipowner undertakes to transport goods or passengers to a pre-established destination. The contract could include a situation where the vessel is chartered for a fixed time. The document is in writing and each party retains a copy. This type of agreement also applies when the transported goods are moved on an airplane or on a truck.
A person can enter into a charter agreement with a boat owner for use of the vessel for a day of fishing or sightseeing. The owner agrees to provide crew, fuel and supplies as part of his obligations under the contract. The contract can be for a fixed term, for example when the boat is booked in one day for a certain number of hours, or for a journey from one port to another. A time charter is used when the vessel in question is a yacht available for charter.
A standard rental agreement includes a number of clauses. Normally, the boat owner provides a fully stocked vessel at the beginning of the charter period. When the ship arrives at its destination, the charterer pays the cost of refueling its bunkers at the current price. The contract will usually indicate a specific minimum and maximum amount of fuel which will be provided at the start of the journey and replaced at the end of the journey.
The vessel owner or his representative has the right to make decisions about how the vessel will be handled while the cargo is on board. In general, the owner of the cargo chooses which port the ship will deliver the cargo to. In the case of a vessel chartered for passenger use, the person arranging the charter can choose several ports of call that the party wishes to visit and list them in the contract.
In the case of a charter-in agreement involving a commercial vessel, the charter-in agreement should list the name of the vessel and the name of its captain. The name of the owner of the cargo is also included in the contract. A time is set for the loading and unloading of the cargo and the conditions also include a provision for compensation to the owner of the cargo in the event of a shipment delay.
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