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Vessel Charter Agreement

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Vessel Charter Agreement Powered By Docstoc
					This is an agreement between a vessel owner and a party that wants to charter a
vessel. This agreement defines the rights and responsibilities of the parties by
establishing the cost per day, which party bears the risk of loss, the delivery date, and
whether a crew is included. This document contains numerous standard provisions that
are commonly included in these types of agreements, and may be customized to fit the
specific needs of the contracting parties. This agreement may be used by individuals or
entities that want to enter into an agreement for the charter of a vessel.
                       VESSEL CHARTER AGREEMENT
This Vessel Charter Agreement (the “Agreement”) made and entered into on this ____ day
___________________, 20___ [Instruction: Insert Date], by and between ______________
[Instruction: Insert Owner Name], _____________________ [Instruction: Insert Address]
(hereinafter referred to as “Owner”), and ______________ [Instruction: Insert Charterer
Name], _____________________ [Instruction: Insert Address] (hereinafter referred to as
“Charterer”).

WHEREAS, the Owner owns the vessel described in paragraph1 hereof, (hereinafter referred to
as the “Vessel”);

WHEREAS the Charterer desires to charter the Vessel on hire from the Owner; and

WHEREAS, the Owner is willing to make the Vessel available to the Charterer, subject to the
terms and conditions contained herein.

NOW THEREFORE, in consideration of the premises, the mutual covenants contained herein,
and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:

1. DESCRIPTION OF THE VESSEL

   A. Name: _____________________ [Instruction: Insert Name]

   B. Registration Number: _____________________ [Instruction: Insert Reg. No.]

   C. Age: _____________________ [Instruction: Insert Age]

   D. Value: _____________________ Dollars ($_______) [Instruction: Insert Value]

   E. Length: _____________________ [Instruction: Insert Length]

   F. Beam: _____________________ [Instruction: Insert Beam]

   G. Mean draft: _____________________ [Instruction: Insert Mean Draft]

   H. Maximum capacity: _____________________ [Instruction: Insert Max. Capacity]

   I. Last inspection: _____________________ [Instruction: Insert Date]

2. TERM AND PAYMENT

    A. Charterer hereby hires from the Owner, the Vessel for a period of ________ (___) days
[Instruction: Insert Duration], commencing on ______________ [Instruction: Insert Date]
and concluding on ____________ [Instruction: Insert Date] (the “Charter Period”) for the sum


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of ______________ Dollars ($_____)[Instruction: Insert Amount]per day (cumulatively, the
“Charter Fee”), payable to Owner upon execution hereof, without any deduction or offset.

    B. If Charterer, for any reason whatsoever, cancels its booking, Owner may retain any
portion of the Charter Fee then paid as liquidation damages. In the event that Owner is able to
rebook the Vessel, to any third party, Owner shall refund to Charterer such Charter Fee less a
cancellation fee equal to _____________ percent (____%) [Instruction: Insert Percent] of the
total Charter fees.

3. SECURITY DEPOSIT

In addition to the Charter Fee, upon the execution of this Agreement, Charterer shall also pay
Owner a security deposit in the amount of ______________ Dollars ($_____) [Instruction:
Insert Deposit Amount], which shall serve as security for performance of Charterer's
obligations hereunder

4. DELIVERY AND LOCATION

    A. Owner shall deliver the Vessel to the Charterer upon commencement of the Charter
Period, in a clean and good and properly working order, with full equipments, inclusive of that
required by law. If the Owner is unable to deliver the Vessel as stipulated herein for causes
beyond Owner’s control and if delivery is not made within twenty four (24) hours thereafter,
Charterer may cancel this Agreement and Owner, as Charterer’s sole remedy, shall refund to
Charterer any charter money paid in advance.

   B. The vessel will be permanently docked at _________________ [Instruction: Insert
Address] (the “Location”). Charterer shall give owner ten (10) days’ written notice of any
change in permanent docking of the vessel, and owner shall have the right to approve any
proposed change in location, such approval not be unreasonably withheld.

5. INSPECTION AND ACCEPTANCE

    A. Prior to acceptance of the Vessel, Charterer shall have the right to inspect the Vessel, and
have the Vessel surveyed by an independent, qualified, marine surveyor. In the event that the
surveyor reports that the Vessel is not seaworthy, Owner will remedy such conditions at Owner's
expense.

    B. Upon acceptance of the Vessel, the Charterer acknowledges that the Vessel is in good
and seaworthy condition, fit for the use by the Charterer. The Charterer further acknowledges
that the Vessel is of size, design, and capacity suitable for Charterer's use.

6. SAFETY EQUIPMENT AND CREW

The Owner agrees to provide the Vessel equipped with all safety equipment required by the
United States Coast Guard, and a properly qualified captain and crew, adequate for the safety of
the Vessel and all other persons related to the operation of the Vessel, consisting of at least, but


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not limited to, a captain, chef and steward. The Captain shall be competent in both inland and
coastwise navig
				
DOCUMENT INFO
Description: This is an agreement between a vessel owner and a party that wants to charter a vessel. This agreement defines the rights and responsibilities of the parties by establishing the cost per day, which party bears the risk of loss, the delivery date, and whether a crew is included. This document contains numerous standard provisions that are commonly included in these types of agreements, and may be customized to fit the specific needs of the contracting parties. This agreement may be used by individuals or entities that want to enter into an agreement for the charter of a vessel.