Time Charter
/ˈtaɪm ˈtʃɑːrtər/
Definitions
- (n.) A contract in maritime law whereby a shipowner leases a vessel to a charterer for a specified period, who then controls its commercial use while the owner manages the vessel's operation and crew.
Under a time charter, the charterer pays for fuel and port charges but does not handle the ship's crew.
Forms
- time charters
Related terms
See also
Commentary
Time charters balance responsibilities between owner and charterer, requiring clear terms on operational control and cost allocation.
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.