Charterparty

A charterparty is a legal agreement between the owner of a ship and a person or company (the charterer) who wants to use the ship for transporting goods or passengers. This contract outlines the terms of the rental, including payment, duration, and responsibilities for both parties. There are different types of charterparties, such as time charters (where the ship is rented for a specific period) and voyage charters (for a particular journey). Overall, it governs the rights and obligations related to the use of the vessel, ensuring clarity in maritime operations.