Charter party Contracts
AT THE END OF THIS SEMESTER,
YOU WILL BE ABLE TO
- Understand the function of the charter party in relation to both the sale and carriage of goods.
- Understand the important link between the charter and other transport documents, such as the bill of lading.
- Appreciate which type of charter is most suitable in different commercial scenarios.
- Have a good grasp of the relevant legal principles governing charters.
Curriculum includes
Unit 1
Choosing the type of charter
- Charter party contracts, various types of charter party, differentiation between CP, Spot, trip, Voyage, Time and Bareboat charter explanation, Gencon, NYPE, Baltime
Unit 2
Voyage and Time Charter party
- Reading CP contracts, various components of the CP, preparation of the CP, liability of the owner and the charter, Thorough understanding of the main and rider clauses
Unit 3
Risk and cost allocation between owner and charterer
- Bearing of risk and the loses, dispatch, demurrage and dead freight, Hire and freight payment,
Unit 4
Exception clauses/limitation of liability/international conventions
- The Convention on Limitation of Liability for Maritime Claims 1976, Limitation of Liability, SOLAS, MARPOL, STCW, MLC, various exemption clauses in charter party
Unit 5
Commercial control of the vessel
- Relationship between head owner, operator and the charterer, Approval for BL, LOI for switch BL
Unit 6
The problem of delay under time and voyage charters
- Time management under different charter parties, Laytime cancelling, Hire and offhire claims
Unit 7
The relationship between the charter, the bill of lading and other documents
- Relationship between the owner, charterer and the shipper as per BL and the CP
Unit 8
Hybrid Charterparties
- Charter parties different from the above, Charter party catering to the needs of owners and charterers, consecutive voyage charter, trip charter, slot charter