TTM15100 - Background material: Shipping contracts

Contracts of affreightment

General meaning

A 바카라 사이트˜contract of affreightment' is a contract between a shipowner and a shipper, whereby the shipowner undertakes to carry a cargo over a certain route on specified occasions. There are two distinct forms of contract

  • charter
  • bill of lading

The contract if 바카라 사이트˜free-on-board바카라 사이트™ (f.o.b) will be made by the purchaser of the goods, as the vendor바카라 사이트™s obligations cease when the goods have been loaded onto the ship.

However, if the sale is 바카라 사이트˜carriage, insurance and freight바카라 사이트™ (c.i.f.) it will normally be the vendor which enters into the contract.

Specialised meaning

Although this term can refer to any contract for the carriage of goods, it can often have a specialised meaning relating to contracts for a series of voyages involving bulk cargoes. Both BIMCO and INTERTANKO, see TTM15200, issue standard forms. A feature of such a contract of affreightment is that it is unlikely to relate to any particular ship, in contrast to a charterparty.

Charters

A charter is a contract to hire a ship for a particular time or journey. The document associated with a charter is termed a charterparty. It may take several forms

  • Bareboat charter, for a (longer) period of time without crew, see TTM15110
  • Time charter, for a (shorter) period of time with crew, see TTM15120
  • Voyage charter, for a particular voyage, or voyages, see TTM15130

References

Bills of lading 바카라 사이트“ TTM15140