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Fixed-term contracts are used when an employer wishes to hire an employee for a specific amount of time that is agreed upon in advance [citation needed]. Also known as task contracts, a fixed-term contract can also be used for the completion of a specific task and the contract will be terminated automatically upon completion of the task.
Contract - Contract staffing refers to a type of employment arrangement where an individual is hired by a company for a predetermined period to work on a specific project or task. Contracts can vary in duration and may be short-term or long-term. [7] This arrangement often benefits employers by providing flexibility in staffing for temporary needs.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
A charterparty (sometimes charter-party) is a maritime contract between a shipowner and a hirer ("charterer") for the hire of either a ship for the carriage of passengers or cargo, or a yacht for leisure. [1] Charterparty is a contract of carriage of cargo in the case of employment of a charter boat. It means that the charterparty will clearly ...
Labour hire is a form of employment in which an employer directs their de jure employees ("labour hire employees", or "agency workers") to perform work at an external workplace, belonging to a client of the legal employer. [1] [2] A labour-hire agency employs workers who are then "on-hired" to perform labour for a second party organisation.
In the United States, there is an additional legal distinction with regard to bareboat or for hire, or "skippered" charters. When persons pool their finances to bareboat so that the qualified master among them may skipper for the group, the master is not ostensibly a paid skipper but now takes on the legal responsibilities of one.
An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and ...
At the end of the hire period, the charterers are expected to pay for the fuel that was used. A contract of affreightment is not strictly a charter contract but is somewhat similar to a voyage charter. Under a contract of affreightment, the shipowner undertakes to carry a number of cargoes within a specified period of time on a specified route.