Time Charter Flashcards
Arbitration
Arbitration is a method of resolving disputes outside of traditional courts, where the involved parties agree to submit their conflict to one or more arbitrators, who are neutral third parties.
General average
For example, a ship is set to cross the Mediterranean carrying wine, and the owner decides to take on additional cargo to increase profit. However, the ship encounters a storm and has to jettison some of the cargo overboard. The principle in this case is that all the cargo owners share the cost of the lost cargo.
Stages in Ship Sale Process
- Negotiation: Terms, prices, and inspections are agreed upon.
- Inspection: Thorough checks are done by the buyer’s surveyor.
- Closing: Ownership transfer is confirmed, and payment is made, often with brokers and legal parties involved.
International conventions
o SOLAS: Safety of Life at Sea.
o MARPOL: Prevention of Marine Pollution.
o LOAD LINES: Standards from 1966 and 1988.
o COLREG: International Regulations for Preventing Collisions at Sea (1972).
o STCW: Standards for Training Certification and Watchkeeping (1995, 2012).
Culpa
Culpa means skyld
Culpa in Negligence: This often refers to a failure to exercise reasonable care, leading to accidental harm.
Culpa in Contract Law: In some jurisdictions, culpa applies to the breach of a duty in a contract where one party’s negligence or improper behavior caused harm or a breach.
Strict liability
strict liability is a standard of liability under which a person is legally responsible for the consequences flowing from an activity even in the absence of fault or criminal intent on the part of the defendant.
Time charter
Time Charter: This is a contract where the shipowner provides a vessel to the charterer for a specified period. In a time charter, the charterer has commercial control over the vessel and bears the costs of variable expenses such as fuel and port fees, while the shipowner retains nautical management, including the vessel’s maintenance and crew. Payment (hire) is based on the time the vessel is available for the charterer’s use.
Voyage charter
Voyage Charter: This type of charter involves the shipowner committing to transport a specified cargo over a single voyage. Here, the shipowner bears the risk of delays, as payment is made based on the amount of cargo transported, not time. It’s often chosen when the charterer only needs a one-time service rather than ongoing use of the vessel.
Bareboat charter
Bareboat Charter (Demise Charter): The charterer leases the vessel without crew, effectively taking over all responsibilities for the vessel, including crew, maintenance, and operation, as if they were the owner. The shipowner provides only the vessel itself, while the charterer manages it entirely.
SHEX and SHINX
SSHEX = Saturdays, Sundays, Holidays Excluded
SSHINC = Saturdays, Sundays, Holidays Included
U.u
It is a common chartering acronym for laytime counting, meaning “saturday pm sundays and holidays excluded unless used, if used, half time actually used to count”.
Force majoure
Force majeure er en uforutsett hendelse som ikke kan avverges, for eksempel brann, krigsutbrudd, naturkatastrofe, streik og lignende. Force majeure kan etter omstendighetene frita for oppfyllelse av kontraktsforpliktelser. Force majure vil også kunne frita en part fra å måtte betale erstatning ved kontraktsbrudd. Etter kjøpsloven er selger erstatningsansvarlig for tap som hans kontraktsbrudd påfører kjøper, med mindre det foreligger et såkalt hindringsfritak. Force majure-hendelser er en fritaksgrunn i denne sammenhengen.
Berth and port charter
Berth charter: the master cannot tender NOR before arriving in the right berth.
Port Charter: the master can tender NOR as soon as the vessel enters port area.
Lump sum
Lumpsum freight is the money paid to shipper for a charter of a ship (or portion) up to stated limit irrespective of quantity of cargo.
Dispute
En dispute i maritim rett refererer til en uenighet eller tvist mellom parter i forbindelse med maritime aktiviteter eller shipping-relaterte kontrakter.
Time charter (responsibility of the owner and charterer)
- Skipseieren (shipowner) har ansvaret for å bemanne skipet og sørge for at det er tilstrekkelig kvalifisert mannskap for å drive skipet på en sikker og effektiv måte. Dette inkluderer kaptein, maskinister, offiserer og annet mannskap som kreves for driften av skipet.
- Chartereren (charterer) leier skipet for en spesifikk periode (ofte basert på et time- eller daglig rate) og har rett til å bruke skipet i denne perioden. Chartereren har ansvaret for hvordan skipet brukes (f.eks. hvor det skal seile og hvilke last det skal transportere), men har ikke ansvar for bemanningen av skipet.
Bill of lading
A bill of lading (BL or BoL) is a legal document that’s issued by a transportation company to a shipper. It details the type, quantity, and destination of the goods being carried. A bill of lading also serves as a shipment receipt when the carrier delivers the goods at a predetermined destination.
Lien clause
Liens are an important tool in the maritime industry, defined as ‘the right to take another’s property if an obligation is not discharged’. Liens are a remedy available to a shipowner to secure claims against a charterer when there has been a breach of contract, most usually non-payment or short payment of hire
Demurrage
a charge payable to the owner of a chartered ship on failure to load or discharge the ship within the time agreed.
Despatch
Despatch is a reward paid by the shipowner to the charterer if the loading and discharging operation is completed within a time shorter than the total laytime.
Pro rata
Bestemt ved regning
Stevedoor
one who works at or is responsible for loading and unloading ships in port
