TANKERS CHARTERING PROCEDURE STEP BY STEP

THIS IS THE PROCEDURE TO FOLLOW FOR CHARTERING A TANKER IN TIME CHARTER AND TRIP TIME CHARTER TERMS

THIS PROCEDURE, ITS CONSECUTIVE STEPS IS FOR BE ACCOMPLISHED BY BOTH THE CHARTERER AND THE OWNER

STEP # DESCRIPTION OF THE PROCEDURE STEPS

1 CHARTERER RECEIVES AND FILLS UP THE FIRM SHIP TONNAGE REQUIREMENT (FSTR)
A) ALL CASES MAY BE FILLED
B) SPECIAL ATTENTION IN FILL ALL DETAIL REQUIRED IN THE SECTION OF RESTRICTIONS,
RELEVANT AND ESSENTIAL INFORMATION TO PERFORM THE CONTRACT
C) CHARTERER TO REQUEST ALL INFORMATION NEEDED FROM THE VESSEL
D) CHARTERER SUMMITS TO OWNERS THE FSTR
2 THE OWNER RECEIVES THE FSTR AND APPROVES OR NOT TO SEND A FIRM TONNAGE OFFER (FTO)
WITH THE MAIN TERMS AND CONDITIONS FOR THE CHARTERER CONSIDERATION
3 THE FTO IS RECEIVED BY THE CHARTERER
A) CHARTERER HAS THE TIME QUOTED IN THE LINE 24 “VALIDITY OF THE OFFER” FOR ANALYZE
THE FTO, REQUEST INFORMATION, COUNTER THE OFFER, NEGOTIATE TERMS AND CONDITIONS,
REJECT IT OR ACCEPT IT
B) THE ACCEPTANCE OF THE FTO, MUST BE BY WRITTEN ACCEPTING LINE BY LINE AND CLAUSE BY
CLAUSE OF THE FTO INDEPENDENTLY
C) THE ACCEPTANCE OF THE FTO WILL BE SIGNED IN EVERY PAGE BY THE CHARTERER´S
REPRESENTATIVE
D) THE OWNER SEND THE VESSEL´S Q88 AS WELL AS OTHER REQUESTED AND APPROVED
INFORMATION OF THE VESSEL
4 CHARTERER NOTICE THE OWNERS :
A) FTO REJECTION PROCESS ENDED
B) FTO ACCEPTED, THEN CHARTERER WILL PROCEED WITH THE IMMEDIATE FUNDS REMITTANCE
AS SAID AND AGREED IN LINE 26 “TONNAGE REQUIREMENT GUARANTEE (TRG)
C) IF THE FUNDS OF THE TRG ARE NOT REMITTED WITHIN THE TIME ENCLOSED IN THE LINE 24,
“VALIDITY OF THE OFFER” THE VESSEL WON´T BE GRANTED FOR CHARTERING AND COULD BE WITHDRAW
FORM NEGOTIATIONS AT THE SOLE ACTION AND LIABILITY OF THE CHARTERER
5 THE FTO IS ACCEPTED AND TRG FUNDS SENT,
A) THE OWNER SEND THE CHARTER PARTY FORM FOR NEGOTIATE
B) CHARTERER HAS THE TIME AS IN LINE 27 “CONTRACT SIGNING DAYS” (CSD) FOR SIGNING THE
CHARTER PARTY. IF THE TIME IS EXCEEDED THE CSD WITHOUT THE WRITTEN CONSENT OF
THE OWNER OR THE CONTRACT IS NOT SIGNED BY THE ONLY WILL AND DECISION OF THE
CHARTERER, THEN THE VESSEL COULD BE WITHDRAWN FROM NEGOTIATION AT THE ONLY
DECISION AND DISCRETION OF THE OWNER AND THE TRG WILL NOT BE REFUNDED BACK TO
THE CHARTERERS
C) UPON SIGNED THE CHARTER PARTY, THE CHARTERERS WILL PROCEED IMMEDIATELY TO THE
REMITTANCE OF THE FUNDS QUOTED IN THE CASE 28 OF THE FTO, “CONTRACT COMPLIANCE GUARANTEE”
(CCG) WHICH WILL BE DISCOUNTED FROM THE LAST CORRESPONDING HIRE PAYMENTS
OF THE FIX OR COMPLEMENTARY PERIODS, WHICHEVER OCCURS LAST.
D) IN THE EVENT THAT THE CHARTER PARTY IS SIGNED THE VESSEL WILL NOT PROCEED TO THE
DELIVERY POSITION UNTIL THE CCG FUNDS ARE DULY RECEIVED IN THE OWNER´S DESIGNATED
BANK ACCOUNT
E) ONCE SIGNED THE CHARTER PARTY, THE CCG ARE RECEIVED IN THE OWNER´S BANK ACCOUNT
AND THE CHARTER PARTY COMMENCES ,RUNNING, THE TRG FUNDS WILL BE DISCOUNTED
FROM THE FIRST HIRE PAYMENT

6 THE CCG AS ITS NAME SAYS, IS RETAINED AS GUARANTEE IN THE EVENT OF ANY LACK OR FAILURE
OF PAYMENTS BY THE CHARTERER AS WELL AS A GUARANTEE OF ANY CONTRACT BREACH BY THE
CHARTERER OR DAMAGE TO THE SHIP
7 THIS PROCEDURE TO BE SIGNED BY THE CHARTERER AS ACCEPTED IN FULL TOGETHER WITH THE
FIRM TONNAGE OFFER (FTO)

SIGNED BY THE CHARTERER

NAME:

POSITION:

PASSPORT/ID