KINDS OF CHARTER PARTY

Following are the kinds:

1. VOYAGE CHARTER:

If a ship is hired for a particular voyage, it is called voyage charter and here freight is payable on

the basis of the distance covered by the ship.

2. Time charter

If the ship is hired for a specific period of time, it is called time charter. In this case freight is

payable on the basis of time period for which ship is hired.

3. Charter by demise

In this kind the owner give permission for full control of ship to the charterer, for a certain period.

Charterer has to bear all incurred expenses along with legal responsibilities. Owner get stipulated

here. Owner gets ship when charter comes to an end.

KINDS OF BILLS OF LADING

Following are the kinds:

1. CLEAN BILL OF LADING

When goods loaded on ship, an in-charge of ship examines it. If he satisfied with goods packing,

he signed bill of lading without writing anything on it. It is called clean bill of lading.

2. QUALIFIED BILL OF LADING

When it is stated in bill of lading that the goods received are in bad conditions, it Is called bill of

lading.

3. THROUGH BILL OF LADING

When freight covered by bill of lading is to be carried by sea or land and freight has been charged

for sea and land transportation, the bill is called through bill of lading.