TTM15120 - Background material: Shipping contracts
Time charterparties
A time charterparty is an agreement to hire a vessel for a period of time. The shipowner agrees that the ship named in the charterparty, including her master and crew, will be placed at the disposal of the charterer for his use and employment over a defined period of time. A fundamental feature of such charterparties is that the time charterer has no possession or control of the ship. The master and crew remain in the employment of the shipowner and at all times are his servants in law.
The charterer will be responsible, subject to any restrictions by the owner, for the cargo to be carried, bunkers, and the ship바카라 사이트™s loading and unloading. Remuneration paid to the owner is described as the 바카라 사이트˜hire바카라 사이트™ and expressed as an amount per day or per deadweight tonne per month.
Because a ship operator who time charters in has no control over the crew, and thus a more limited control of the ship, a limit has been placed on charters in 바카라 사이트˜otherwise than on bareboat charter terms바카라 사이트™ (time and voyage charters) to the extent of not exceeding 75% of the tonnage operated.
Standard time charters are produced by organisations such as BIMCO, which may be modified by the addition or subtraction of particular clauses. The Tonnage Tax Technical Adviser can provide further details.
References
| FA00/SCH22/PARA143 (meaning of 바카라 사이트˜on bareboat charter terms바카라 사이트™) | TTM17791 |
| Operating a ship: chartered to the company | TTM03100 |
| The 75% limit on charters in | TTM05100 |
| Contracts of affreightment | TTM15100 |
| Bareboat charterparties | TTM15110 |
| Voyage charterparties | TTM15130 |
| Contact points | TTM01120 |