Common Contracts
1 similar Bareboat Charter Agreement contracts
Bareboat charter agreement pdfBareboat Charter Agreement • April 5th, 2021
Home page||Ship employment || A bareboat charter (sometimes called a charter by demise or demise charter, particularly by lawyers) i) is a contract for the hire of a vessel for an agreed period during which the charterers acquire most of the rights of the owners. ii) may be thought of as the marine equivalent of a long-term vehicle lease contract. iii) is most usually on the BARECON 89 charter party form. iv) is used by owners such as banks and finance houses who are not prepared to operate or manage ships themselves. v) is often hinged to a management agreement. (e.g. where an oil company bareboat charters a tanker from an independent tanker owner but agrees that the owners will manage the ship on the oil company’s behalf during the charter period). vi) may be hinged to a purchase option after expiry of the charter or during the hire period. (Hire payments may include instalments of the purchase price, and transfer of ownership may follow the final instalment. Many permutations are po
