The Charter Party

Technological University of Panama
Regional Center of West Panama
Faculty of Civil
Bachelor in Maritime and Port Engineering.
Language II

The charter party

I Semester

Presented to:
Mrs. Teodoro Castillo Quintero

Presented by:
Bustavino, Fredy
Salved, Ricardo

Group:
9IL-121

Due date:
12/4/2012
CHARTER PARTIES

A charter party is a document of contract by which aship-owner agrees to lease, and the charterer agrees to hire, a vessel or all the cargo space, or a part of it, on terms and conditions forth in the charter party. If permitted to do so by the terms of charter party, the may enter into subcontracts with other shippers.
The main types of charter parties are Bareboat Charter Party (sometimes called a Demise Charter). Time Charter Party and VoyageCharter Party.
If your vessel is chartered it is of the utmost importance that you read the charter party carefully, especially the added clauses, until it is thoroughly understood. It is advisable to have the officers read it as a matter of information and instruction and it will do no harm to discuss it with them, especially with the chief officer.
A contract of affreightment in writing, by whichthe owner of a ship or other vessel lets the whole, or a part of her, to a merchant or other person for the conveyance of goods, on a particular voyage, in consideration of the payment of freight. This term is derived from the fact, that the contract which bears this name, was formerly written on a card, and afterwards the card was cut into two parts from top to bottom, and one part was deliveredto each of the parties, which was produced when required, and by this means counterfeits were prevented. 
This instrument ought to contain,
1. The name and tonnage of the vessel;
2. The name of the captain;
3. The names of the letter to freight and the freighter;
4. The place and time agreed upon for the loading and discharge;
5. The price of the freight;
6. The demurrage or indemnityin case of delay;
7. Such other conditions as the parties may agree upon.
When a ship is chartered, this instrument serves to authenticate many of the facts on which the proof of her neutrality must rest, law. He must not leave his master's service during the term of the apprenticeship. The apprentice is entitled to payment for extraordinary services, when promised by the master; and even whenno express promise has been made, under peculiar circumstances.
Parts of Charter Party
Two important types of official charter parties, namely the “agreed” and the “recommended” charter parties. The printed text of an “agreed” charter party can be altered to adapt it to the specific requirements of the negotiating parties (e.g. the Geneon Charter Party).
In principle charter parties have twoparts:
1. The printed text;
2. The additional clauses (generally typed).
The printed text contains a number of clauses with or without blank spaces which must be filled in be the contracting parties (e.g. the name of the ship, cargo to be loaded, the freight, etc.) those printed clauses form the terms and conditions of the contract and frequently they must be completed, changed or evendeleted (except in case of agreed charter parties) to reflect the correct agreement of the parties (e.g. the lay days, the demurrage, the brokerage, etc).
A number of additional clauses, either written on typed, which are called “riders” or “side clauses” are generally added to the filled in and adapted printed text. Those additional clauses (riders, side clauses) are generally typical of certaintraffic, and overrule the printed clauses, also sometimes called main clauses.
An “addendum” or “side letter” is frequently enclosed with the charter party, containing confidential clauses which one does hot wish to divulge to certain this is quite prevalent with regard to the freight or hire which, in that case, is entered in the printed text of the charter party with the words “As agreed”. For...