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A bareboat charter, or demise charter, is an arrangement for the chartering or hiring of a ship or boat for which no crew or provisions are included as part of the agreement. Instead, the people who rent the vessel from the owner are responsible for taking care of such things and (for commercial shipping) obtaining insurance, usually for a ...
In a demise (or bareboat) charter, the charterer takes responsibility for the crewing and maintenance of the ship during the time of the charter. S/he assumes the legal responsibilities of the owner, and is known as a disponent owner. [citation needed] In a time charter, the vessel is hired for a specific amount of time. The shipowner manages ...
The bareboat charter market was established first in 1967 in Tortola by Jack Von Ost, [3] founder of Caribbean Sailing Yachts, who conceived the idea of a fleet made up of similar boats, with a standard for maintenance and equipment and boats especially designed for charter and not private use.
A demise charter, or bareboat charter, is an arrangement for the hiring of a vessel for which no administration or technical maintenance is included as part of the agreement. The charterer obtains possession and full control of the vessel, along with the legal and financial responsibilities for it.
They use four types of contractual arrangements: the voyage charter, the contract of affreightment, the time charter and the bareboat charter. Shipowners contract to carry cargo for an agreed price per tonne while the charter market hires out ships for a certain period.
Several factors determine the cost of a charter, including the size of the yacht, its age, its pedigree, the number of crew, time of sailing (whether it is high season or not), and the destination. The worldwide range of charter prices (per person per week) is estimated to be from $1000 up to and in excess of $20,000.
The contract is subject to exceptions similar to those in bills of lading and voyage charter-parties. This is the general outline of the ordinary form of a time charter-party, [6] but forms and clauses can vary considerably. Under a time charter-party, the shipowner largely parts with control of his ship.
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