| Definition |
Contracts of carriage, in which the charterer pays for the use of a ship's cargo space for one, or sometimes more than one, voyage. Under this type of charter, the shipowner pays all the operating cost of the ship while payment for port and cargo handling charges are the subject of agreement between the parties. Freight is generally paid per unit of cargo, such as tonne, based on an agreed quantity, or as a lump sum irrespective of the quantity loaded. The terms and conditions of the contract are set down in a document known as a voyage charterparty. If it is a consecutive voyage charter party, the document specify the number of voyages, time, amount and weight of the goods to be transported, as the freight rate. Another kind of contract called "Contract of Affreightment" (COA or C.O.A.) is sentered on the volume of goods. Charterparties and bills of lading are contracts of affreightment. All herein includes eqivalent income from agency/pool. |
