Charter Party
/ˈtʃɑːrtər ˌpɑːrti/
Definitions
- (n.) A contract between the owner of a vessel and a charterer for use of the ship or part of its cargo-carrying capacity under specified terms.
The parties signed a charter party to outline the obligations for the shipment of goods.
Forms
- charter parties
Related terms
See also
Commentary
A charter party is distinct from a contract of carriage; it customarily governs the lease of the vessel itself rather than just the transportation of goods.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.