DEADFREIGHT

is the amount paid or recoverable

from a charterer of a ship for the
portion of the ship's capacity the
latter contracted for but failed to
occupy

PRIMATE
bonus to be paid to the
captain after successful
voyage

LAY DAYS
period when vessel will be
delayed in port for loading and
unloading

R E S C I SS I O N O F C H A RT E R
PA RT Y
GROUNDS
1.at the request of the charterer
2. at the ship owner's request
3. fortuitous causes

AT THE REQUEST OF
CHARTERER
either by:
1. by abandoning the charter and paying half of the
freightage
2. error in tonnage or flag
3. failure to place the vessel at the charter's disposal
4. return of the vessel due to pirates, enemies or bad
weather; and
5. arrival at port for repairs.