affreightment, contract of

Definition of "affreightment, contract of"
  1. An agreement where an ocean carrier commits to allocate cargo space on a ship at a specific time and price for an exporter or importer
How to use "affreightment, contract of" in a sentence
  1. The exporter entered into a contract of affreightment with the carrier to transport machinery parts.
  2. The importer's contract of affreightment specified the date and rate for cargo space.
  3. The successful transportation of goods was thanks to a well-structured contract of affreightment.

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