# Affreightment Contract

*Last updated: 2026-06-23*

> An affreightment contract provides the binding legal framework for the carriage of goods by sea, committing the shipowner as carrier to transport specified cargo against a negotiated freight rate.

An affreightment contract provides the binding legal framework for the carriage of goods by sea, committing the shipowner as carrier to transport specified cargo against a negotiated freight rate. Its core terms cover loading and discharge ports, freight rate, laytime, demurrage for delays beyond the agreed laytime, and the allocation of liability for cargo loss or damage. It is closely related to, but distinct from, a charter party: a charter party governs the hire of the vessel itself, while an affreightment contract focuses on the obligation to carry the goods. In day-to-day shipping practice, both instruments – together with the bill of lading – form the contractual backbone of an international sea consignment.

**Source:** [https://www.investopedia.com/terms/a/affreightment.asp](https://www.investopedia.com/terms/a/affreightment.asp)

## Quick Facts

| Property | Value |
|---|---|
| Term | Affreightment Contract |
| Language | EN |
| Word count | 113 |
| Last updated | 2026-06-23 |
| Source | https://www.investopedia.com/terms/a/affreightment.asp |

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