Demise Charter
/ˈdɪmaɪz ˈtʃɑːrtər/
Definitions
- (n.) A lease agreement granting possession and control of a vessel to a charterer for an agreed period, often conferring substantially full control and responsibility of the ship's operation.
The company signed a demise charter to operate the vessel exclusively for five years.
Forms
- demise charters
Related terms
See also
Commentary
A demise charter is also known as a bareboat charter and involves transferring possession and legal control of the vessel, distinguishing it from time or voyage charters which limit control and operation responsibilities.
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.