A Master Time Charter Agreement in Louisiana is a contract between the owner of a vessel and a charterer for use of the vessel for a specific amount of time. The owner of the vessel still manages it, but the charterer gives orders for the movements of the vessel and cargoes carried during the agreed period of time under certain limitations – usually the sole discretion of the captain. Under a time charter, the owner is usually responsible for employing the master and crew for the specified duration. A time charter is different than a voyage charter agreement, which is a contract between the owner of a vessel and a charterer for a specific point-to-point voyage. In a voyage charter either the vessel’s owner or the disponent owner may provide the master, crew, fuel, and supplies.
A master time charter agreement should address the following:
- Scope of Services
- Payment Terms
- Owner/Charterer Obligations
- Safety and Environmental and Management Systems Compliance
- Consequential Damages
- Limitation of Liability
- Force Majeure Definitions and Events
A demise or bareboat charter is a type of time charter in which the responsibilities for crewing and maintaining the vessel during the time of the charter fall to the charterer who is then known as the disponent owner. Contact our New Orleans maritime law and litigation attorney and legal team at The Moeller Firm for more information on how we can help you.