Charter Party
This Charter Party (the “Charter”) dated this ___ day of ____, 20__, is made by and between ____________, of ________________ (“Owners”), and ______________, of _________________ (“Charterer”).
WHEREAS, Owners possess and are entitled to the exclusive use of the Vessel _______________ (the “Vessel”), described in Exhibit A,
NOW THEREFORE, in consideration of the mutual covenants and conditions herein set forth, the parties agree as follows:
1. Owners hereby Charter the Vessel to Charterer, at the weekly rate of ______________ Dollars ($_____________) for a period of __________ weeks commencing on ____________, 20__.
2. Owners hereby warrants that the Vessel is seaworthy and reasonably fit for the purposes for which it is to be used.
3. Charterer shall be responsible for:
(a) paying the weekly charter rate to Owners on or before the due date specified in Exhibit B,
(b) providing the Vessel with all necessary supplies, including food and fuel;
(c) ensuring that the Vessel and its crew are always in compliance with all applicable maritime safety, navigation, and environmental regulations; and
(d) maintaining all licenses, registrations, and validations that are required in order to operate the Vessel.
4. Owners agree to provide Charterer with competent and diligent crew and provide necessary maintenance and repairs to the Vessel as needed.
5. Owners and Charterer agree to use their best efforts to negotiate in good faith to reach an amicable resolution of any disputes that may arise under this Charter.
6. In the event of a material breach of this Agreement, the aggrieved party shall be entitled to all remedies under law or equity, including termination of this Charter, without prejudice to any other rights it may have.
IN WITNESS WHEREOF, this Charter has been executed and delivered by the parties this _______ day of __________, 20__.
OWNERS
By: ___________________________
Name ___________________________
Title ___________________________
CHARTE RER
By: ___________________________
Name ___________________________
Title ___________________________
