Important clauses which must be agreed prior to the signing of a contract.
1. Demurrage. An equally important clause is the demurrage clause
which states that if the charterer does not complete loading or
discharging in the laydays allowed by the charter party, he must pay for
the delay at the stipulated sum per day.
2. Laydays. If the charterer loads or discharges his cargo in less time than the number of laydays allowed, he earns dispatch money at much a day or part of a day saved. If he takes longer to load or than the
number of laydays allowed, he must pay demurrage at so much a day.
Both dispatch and demurrage may be the cause of much disagreement
and argument in which the vessel’s logbook can play an important part.
3. A lighterage clause is inserted prior to signing a contract, which show as port of discharge any safe port in a certain range, e.g. Havre/Hamburg range.
4. Ship clause.Under this clause, the owner of the ship writes clearly that the ship would be seaworthy at the start of the voyage in every respect, in other words, the ship would be appropriate to travel to the country for which it is taken.
5. Bunker Clause. A bunker clause stipulates that the charterer shall accept and pay for all fuel oil in the vessel’s bunkers at port of delivery and conversely, (owners) shall pay for all fuel oil in the vessel’s bunkers at port of re-delivery at current price at the respective ports.