charter party

Definition of "charter party"
  1. A contract outlining the terms of a rental agreement between the owner of a ship and a person who wants to use it, detailing the length of the agreement, shipping cost, and ports included in the voyage
How to use "charter party" in a sentence
  1. Under the charter party, the shipping cost was split evenly between the two companies.
  2. The charter party specified the duration of the ship's employment.
  3. The ports of call were clearly documented in the charter party.

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