A time charter is the hiring of a vessel for a specific period of time; the owner still manages the vessel but the charterer selects the ports and directs the vessel where to go. Other articles where Time charter is discussed: charter party: …chartering a tramp ship—voyage charter, time charter, bareboat charter, and “lump-sum” contract. In addition Article 245 Section 3 “Time Charter” and Article 253 section 4 “Bareboat Charter” of the said law, provided the same wordings of the aforesaid article. 504. There are two main types of time charters, the period time charter, which, as its name implies, is for a period of time, usually several months or years, while the trip time charter is for a single voyage only – but under time charter conditions. 843. Under this method a ship is chartered for a one-way voyage between specific ports with a specified cargo at a negotiated rate of freight. The hire is payable at specified intervals during the term of the charter. The Party Time is a 40’ Key West sportfisher which can carry a dozen anglers with ease. Whatever you do, fish in confidence aboard a well-maintained vessel with a ton of equipment. If laytime is saved, the charter party may require the shipowner to pay despatch to the charterer. The boat features all the essential electronics like GPS, bottom sounder, and VHF radio. The lessor may be the ship owner or demise charterer and the time charterer will be the lessee. The voyage charter is the most common. All of BIMCO's most widely used charter parties, bills of lading and other standard agreements are available in secure and editable electronic format using BIMCO's online charter party editing system, SmartCon. Time and vessel performance are critical under time charter's and of prime importance are meeting the C/P warranties concerning speed and performance and also to avoid off-hire time as far as possible. Under a time charter the owner will receive hire based on the period of the charter or per dead-weight tonne per month. A time charter party is a contract whereby the lessor places a fully equipped and manned ship at the disposal of the lessee for a period of time for a consideration called hire. - may be thought of as equivalent to the hire of a chauffeur-driven car (the ship’s crew being “the chauffeur”). BIMCO is the world’s leading organisation responsible for developing standard contracts used by shipping industry. Party Time Charters is a Myrtle Beach fishing charters company that provides inshore fishing charters, offshore fishing charters and shark fishing trips. Time charter party clauses for cargo ships employment What is Time charter party A time charter - is a contract for the hire of a named vessel for a specified period of time. 1 1 Term 2 a Firm Period 3 The term of the Charter shall be for a period of about (Insert the term of firm 4 period) ("Firm Period") plus any extensions thereof as provided in Clause 1b 5 and Clause 1c. A time charter party usually incorporates a clause defining the ship’s permitted employment or trade limits. 4525 Fishing She cruises at up to 30 knots to get you offshore in no time. the term and on the terms and conditions hereinafter set forth in this time charter party ("Charter"). Under a time charter party owner take care of the crew, Stores & Provisions, Ship Maintenance, Communications, Husbandry Fees, etc. Used by shipping industry developing standard contracts used by shipping industry if laytime is saved, the charter specified during. 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