6.1.1 If the charterer notifies the owner in writing that he or she will resign from the Charter at least two full months before the start of the charter period, the advance is cancelled, but the charterer assumes no responsibility for the balance of payment (and if he and/or the surety or payment of the fuel and the claim have already been paid, he will be refunded and/or refunded). If the owner charters the vessel for the charter period for no less than the charter fee, half of the down payment will be refunded. In these circumstances, the owner will do everything reasonably in his power to re-charter the vessel and must not unduly withhold his consent to re-charter, although charters that can reasonably be considered detrimental to the vessel, its reputation or its schedule. Depending on the type of vessel and the type of charter, a standard contract form, designated as a party to the charter, is used to record the exact rate, duration and conditions agreed between the owner and the charterer. Time Charter Equivalent is a standard performance index of the marine industry, which is mainly used to compare period-to-period changes in the performance of a shipping company despite changes in the mix of charter types. There are four main methods for chartering a tramp boat – charter, on-time charter, cash charter and «flat-rate contract.» Travel chartering is the most common. Under this method, a vessel is chartered for a one-shot voyage between specified ports with a cargo determined at a negotiated freight rate. On a timely charter, the charterer leases the vessel for a specified period of time, for a specified round trip or occasionally for a one-way trip indicated, the rental rate being expressed in the form of such a quantity per tonne of net weight per month. While on a travel charter, the owner bears all the costs of the trip (subject to the agreement on loading and unloading costs), the charterer currently bears the costs of the bunkers and shops consumed.
The Fleet Bareboat Charter Agreement explains the responsibilities of CMAL and the operator as well as the legal, owner and charter upgrade process. 5.10 The charterer limits the number of persons within its party to a number not exceeding the number of berths on the vessel, unless it depends on the part of the charterer that does not exceed the number of seats on board the vessel authorized by the competent authority, after prior agreement with the owner. Charter is the document that is reviewed and interpreted by a court in the event of a dispute, but in practice most disputes are subject to arbitration. Among the most important clauses in each part of the charter are those that set the number of days allowed for loading or unloading and those that determine who should bear the associated costs. See also the bill of lading, account of. 5.5 The charterer may not charter or share a sub-charter or part with control of the vessel without the prior written consent of the owner. In some cases, a charterer may own cargo and use a boat broker to find a ship to deliver the load at a certain price, called freight rate. Freight rates can be expressed on a specific link (for example. B for iron ore between Brazil and China), in world points (for oil tankers) or, alternatively, on a total amount, normally in U.S. dollars, per day for the agreed duration of the charter.