Charter Party Agreement Definition
Whether it is a broker or a broker, the charterer and the shipowner, they would agree on the terms that would form a “charter party agreement”. Charterer is the party that chartered the ship (think of the simple word “rented”). In most cases, the charterer is a kind of intermediary between shippers and shipowners In United States v Hvoslef 237 U.S. 1, (1915), the U.S. Supreme Court referred to a charter contract as follows: if the voyage charter is a port charter, NOR can only be tendered if the ship is at least within port borders. Normally, in this case, the NOR is tendered when the pilot goes to the ship. The master and staff of the ship may not see the effective charter agreement between the charterer and the owner of the ship.