A contract (C/P) for hire of the use of a vessel to make a specific voyage between two identified terminal ports. The vessel will be carrying cargo or passengers for and on behalf of the Charterer's. The Charterer's pay for the the use of the ship either on the basis of a lump sum or in the case of cargo at a 'Freight Rate'. This freight rate is so much per tonne carried and delivered. This would not be the form of charter normally used in the business of yacht chartering.
A contract (C/P) for the hire of the use of a vessel for a specified period of time and can take one of two basic forms,
* Basic Time Charter
* Demise or Bareboat Charter
The Basic Time Charter;
An agreement between the owner of a vessel, or if allowed the disponent owner, and a charterer who wishes to use the vessel for his own purposes without being responsible for the operation of neither the vessel or its day-to-day management.
Throughout the period of the charter the owner/…