charter-party definition

  • noun:
    • In com., a written contract where a shipowner allows a vessel to a different person, generally the conveyance of cargo, either retaining control over the vessel or surrendering it into charterer.
    • In com., a written agreement through which a shipowner lets a vessel to another individual, frequently when it comes to conveyance of cargo, either keeping control of the vessel or surrendering it towards the charterer.

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