CHARTER PARTY

This CHARTER PARTY made and executed this ______day of _______________, at

__________ by and between ______________, hereinafter called the OWNER, and
_______________________, hereinafter called the CHARTERER,

Witnesseth:

1. That the OWNER lets unto the CHARTERER that certain vessel, known by the
name of ____________________ together with all its complement, and more particularly
described as follows:
(Description of the vessel as stated in its certificate of registry)
2. That the OWNER warrants that the vessel is seaworthy and is fully equipped with
all tackle and appliances necessary for her use in the coastwise trade of the Philippines as carrier
of both freight and passengers;
3. That the term of this Charter Party shall be_____ years to be counted from
__________;
4. That the CHARTERER agrees to pay the OWNER, as consideration for the
letting and hiring of the above-described vessel the sum of _______________________ PESOS,
payable in advance during the first five days of every month during the term of this Contract;
5. That the CHARTERER, during the term of this Charter Party, shall operate the
above-described vessel for its own exclusive benefit, and shall not sublet or sub-charter the same
without the knowledge and written consent of the OWNER; (etc., etc.)
IN WITNESS WHEREOF, the Parties hereto have signed this AGREEMENT the day
and year first above written.

_______________________ _______________________
(Owner) (Charterer)

WITNESSES:
_______________________ _______________________

ACKNOWLEDGMENT