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It is different from most hire-purchase agreements where the seller has ownership of the property until the payment of the final installment. Under the Sale of Goods Act 1979, this kind of agreement to sell ‘future’ goods may be a sale either by description or by sample. The sale of new building ship, which is large manufacturing project ...
Charterparty is a contract of carriage of cargo in the case of employment of a charter boat. It means that the charterparty will clearly and unambiguously set out the rights and responsibilities of the ship owner and the charterers and any subsequent dispute between them will be settled in the court of law or any agreed forum with reference to ...
In commercial demise chartering, a subtype of bareboat chartering, the charter period may last for many years and may end with the charterer acquiring title (ownership) of the ship. In that case, a demise charter is a form of hire-purchase from the owners, who may well have been the shipbuilders. Demise chartering is common for tankers and bulk ...
The nationality allows a ship to travel internationally as it is proof of ownership of the vessel. [1] International law requires that every ship be registered in a country, called its flag state. [2] A ship is subject to the law of its flag state. [1] It is usual to say that the ship sails under the flag of the country of registration.
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 ...
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