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The act is commonly known as bareboating or bareboat charter. There are legal differences between a bareboat charter and other types of charter arrangements, commonly called time or voyage charters. In a voyage or time charter, the charterer charters the ship or part of it for a particular voyage or for a set period of time.
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.
In pleasure boating, the most frequent charter arrangement is bareboat yacht charter. A voyage or time charter is used only for larger yachts and is uncommon. Yacht charter flotillas are mostly made up of boats belonging to individuals or companies who only use their boats on a part-time basis or as an investment.
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.
Crewed charters are staffed by a captain and professional crew that can include chefs, engineers, deckhands, and stewards. Most bareboat charter companies offer basic seamanship courses to prepare clients for handling a boat. These companies may also provide skippered charters, which include a skipper, but no additional crew. [1]
In a time charter, the vessel is hired for a set period of time, to perform voyages as the charterer directs. [102] In a bareboat charter, the charterer acts as the ship's operator and manager, taking on responsibilities such as providing the crew and maintaining the vessel. [103] The completed chartering contract is known as a charter party. [104]
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.
In a time charter, the owner provides a vessel that is fully crewed and equipped. The owner provides the crew, but the crew takes orders from the charterer. The owner is also responsible for insuring the vessel, repairs the vessel may need, engine parts and food for the ship's personnel. The charterer is responsible for everything else.
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