4.6 In the event of significant damage to the vessel during the charter period, which entitles the vessel to insurance, or in the event of a failure of equipment or machinery rendering the vessel unfit or unusable, either a pro-rata credit is granted for the period during which the vessel was not in a fishing or unusable state, or (if the charterer chooses it and the subsequent charter authorization) in which the vessel was insurmountable or unusable , or (if the charterer chooses it and is forced incapacity, provided that neither the charterer nor a member of its party has caused or contributed to the damage or breakdown, and the owner is not entitled to further compensation for damages or deviants in relation to consequential or financial damages or other means. , unless damage or failure is caused by the owner`s negligence and results in death or assault. (Engine failure in an auxiliary yacht is not considered unfit for the vessel under this agreement). A charterer can also be a cargo-free party, which takes a ship from the owner to the charter for a specified period and then acts to transport goods with a profit above the rental rate, or even make a profit in a rising market by refloating the ship to other charterers. To the knowledge of the partnership parties, the charter parties hold the government licences that must be obtained in accordance with the provisions of the charter agreements or reasonably expect to have government licences in ordinary cases that are the responsibility of the charter parties. The charterer`s liability insurance coverage coverage may vary depending on the type of charter and the additional inclusions or exclusions agreed before the purchase of the insurance. 6.3 If the vessel has taken over the Provisions of the Charter prior to the cancellation date or if the owner incurred other costs on behalf of the charterer, the charterer will reimburse these costs unless the supplier can be reimbursed in full or in part by the supplier or transferred to the next charter, in which case these fees will be adjusted accordingly. The owner is required to reduce these costs as much as possible. In some cases, a charterer may own cargo and use a boat broker to find a ship to deliver the load at a certain price, called freight rate. Freight rates can be expressed on a specific link (for example.
B for iron ore between Brazil and China), in world points (for oil tankers) or, alternatively, on a total amount, normally in U.S. dollars, per day for the agreed duration of the charter. 5.5 The charterer may not charter or share a sub-charter or part with control of the vessel without the prior written consent of the owner. 7.3 If the charterer does not comply with a provision of the contract, the owner may immediately terminate the contract and repossess the vessel, without prejudice to the owner`s right to recover damages in the event of a breach of the agreement by the charterer. Charter is the document that is reviewed and interpreted by a court in the event of a dispute, but in practice most disputes are subject to arbitration. Among the most important clauses in each part of the charter are those that set the number of days allowed for loading or unloading and those that determine who should bear the associated costs. See also the bill of lading, account of. 1.2 The down payment is made as a down payment to secure the vessel for the charter period and will be paid to the owner upon signing of this agreement.