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The Four Types of Contract

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Presentation on theme: "The Four Types of Contract"— Presentation transcript:

1 The Four Types of Contract
CARIBBEAN MARITIME UNIVERSITY ACADEMIC VICERRECTORY THE HIGHEST STUDIES SCHOOL OF THE MERCHANT MARINE SUBJECT: MARINE TRANSPORT MASTER MARINERS & CHIEF MARINE ENGINEERS The Four Types of Contract Master Mariners Officers: Jean Franco Acosta Alberto Bastidas Ivan Fonseca Francisco Hernandez Jorge Medina CARACAS, DECEMBER 3TH OF 2014

2 Types of contract Contract of Affreightment (COA) Time Charter Party
Voyage Charter Party Bareboat or Demise Charter Party Types of contract

3 Contract of Affreightment (COA)
INTERCOA (Intertanko Adopted by BIMCO) VOLCOA Bulk Dry Cargoes Straight Bill Sea-Waybill Multimodal / Combined Bill House Bill Liner Bill Time Charter party Demise / Bareboat  Charter party Voyage Charter party TYPE Contract of Affreightment (COA) Charter parties Bills of Lading TYPE OF CONTRACT ESPECIALLY FOUND TO CARGOS LIKE OF METALLURGICAL MATERIALS ESPECIALLY FOUND TO CARGOS LIKE THAT OF COAL. ESPECIALLY FOUND TO CARGOS LIKE OF STONES

4 2. Time Charter Party Vessel Hired CHARTERER SHIPOWNER Singles voyages
Bunker Port Charges Pilotage Sub-Chapter the vessel on a time charter or voyages charter basis Singles voyages & Multiboyas Vessel Hired Delivery Specific amount time Crew Nautical Operation Maintenance TIME CHARTER CHARTERER SHIPOWNER Master & C/E Sub contract with third parties

5 3. Voyage Charter Party COST Charges relating cargo CHARTERER
FIO FREE IN/OUT FIOS / FREE IN – OUT STOWAGE FIOST / FREE IN & OUT STOWAGE AND TRIMMED FILO / FREE IN LINER OUT LIFO / LINE IN FREE OUT FIO FREE IN/OUT FIOS / FREE IN – OUT STOWAGE FIOST / FREE IN & OUT STOWAGE AND TRIMMED FILO / FREE IN LINER OUT LIFO / LINE IN FREE OUT CHARTERER COST “LOADING & DISCHARGED OPERATION” Single Voyage Consecutive Voyage SHIPOWNER BUNKER EXTRA INSURANCES TAXES Master Supply

6 4. BareBoat Charter Party
Paid crew, supplies, fuel, customs, duties Hires the vessel to a charter for a price during a period of time OWNER CHARTER Responsable for all maintenance & most suitable for tankers and bulk carriers Lease the vessel under another financial or Technical Responsibility Gets the hire of the vessel with or without purchasing option become himself in a maritime operator Is not active in the operation of the vessel

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