MARLAW: Finals Wk 17

True or False: A Charter Party is a document that specifies the terms and conditions of a maritime contract between a shipowner and a charterer.

• true

• false

True or False: In a Bareboat Charter Party, the charterer assumes full responsibility for operating the vessel as if it were their own.

• true

• false

True or False: In a Time Charter, the charterer hires the vessel for a specific amount of time, during which they manage the vessel's operations.

• true

• false

True or False: Voyage Charter involves the lease of a vessel for a specific period of time, typically for one voyage only.

• true

• false

True or False: Demurrage is the compensation paid by the charterer to the shipowner for delays in loading or unloading cargo.

• true

• false

True or False: Laytime is the agreed-upon time frame for loading and unloading cargo, and it does not include non-working days or holidays.

• true

• false

True or False: If the charterer completes cargo operations in less time than the agreed laytime, they may earn dispatch money for their efficiency.

• true

• false

True or False: The charterer assumes no responsibility for the operation of the vessel in a Voyage Charter.

• true

• false

True or False: A shipowner may sub-charter the vessel to others in a Time Charter.

• true

• false

True or False: The Master of the vessel is concerned with laytime, dispatch, and demurrage in voyage charter parties.

• true

• false