charterparty


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Related to charterparty: Charter Party

charterparty

a contract in writing under which a person, the charterer, hires or leases a vessel from a shipowner where the intended use is carriage of goods by sea and the consideration is known as freight.
Collins Dictionary of Law © W.J. Stewart, 2006
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Paul Watson, group director (FD&D), said: "We can assist our members with the potential contractual pitfalls that come with these new rules - we can't stress enough the importance of preparing for the change now in order to avoid charterparty disputes in the future."
In rejecting the argument that the shipowners were unaware that the charterparty was procured by bribery at the time when it was entered into, Lord Hope said in Fiona Trust that 'the purpose of the clause is to provide for the determination of disputes of all kinds, whether or not they were foreseen at the time when the contract was entered into'.
See Howard Bennett's "Safe Port Clauses" (10) or Yvonne Baatz's "Clauses Paramount in Time Charters" (11) or Andrew Taylor's "Damages for Breach of Time Charter: Some Recent Developments", where the author concludes that awarding damages in each time charterparty case is very subjective, being "based on what the court considers to be fair" in the circumstances.
(d) Contracts relating to the use or exploitation of the vessel under a charterparty or otherwise.
Recent highlights include a Court of Appeal case to determine whether loss of cargo, through theft by pirates, could be claimed under the charterparty's in-transit loss clause.
So, for example, in Comandate Marine, the Full Court of the Federal Court of Australia held that bringing an action in rem against the ship was not inconsistent with subsequently insisting that the action in personam between the parties be referred to arbitration under the charterparty arbitration clause, because the original election to litigate was taken in respect of the ship and not the shipowner.
Head of department Stephen Mackin, who has an 'excellent blend of expert legal knowledge and practical experience', is leading advice to cargo insurers in a charterparty claim for partial loss of a cargo of gas oil from a laden tanker, concerning the interpretation of an in-transit loss clause.
The Owners chartered their vessel to 'X', with the Defendants countersigning the Charterparty as a Charterers' Guarantor.