REVISIONS IN THE CONCEPT OF COMMENCEMENT OF LAYTIME AND DEMURRAGE — LAYTIME AND DEMURRAGE CLAUSES IN INTERNATIONAL SALE CONTRACTS
|D O W N L O A D|
Today, sea transportation plays a significant role in the international transport of raw and mineral materials, in addition to other types of goods. This is partially due to the huge distance between the supply and demand markets as well as the nature of global trade.
Because of the diversity in demands in the field of carriage of goods in national and especially international markets, different types of sea transportation contracts are required to fulfill distinct demands. Generally, two different types of contracts of affreightment exist : 1) Bills of lading and 2) charterparties which are governed by a specific legal framework and different provisions. Various forms of charterparties have their own provisions, legal framework and standard forms.
One of the most commonly used form of charterparties is voyage charterparty based on which the charterer charters the vessel to carry cargo from agreed port or ports to determined port or ports, hi voyage charterparty, every act which is related to management, crewing. supplying the fuel and paying for it. port charges and every other necessary issue concerning the carriage of goods by the vessel and its operation, remains in the hands of the ship-owner, in return, the charterer has the duty to pay the freight and provide the cargo based on the contract.
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