# Charter Agreement Negotiation

*Last updated: 2026-06-23*

> Charter agreement negotiation is the process by which a charterer and a shipowner settle the contractual terms governing the use of a vessel.

Charter agreement negotiation is the process by which a charterer and a shipowner settle the contractual terms governing the use of a vessel. The main points under discussion are freight rate, laytime (the contractually allowed loading and discharging window), demurrage (charges that accrue when laytime is exceeded), cancelling clauses, designated ports, and provisions for maintenance and insurance. Charter brokers typically manage these negotiations on behalf of one party, frequently under time pressure and in shifting spot-market conditions. Three charter forms are standard: voyage charter (a single voyage), time charter (use of the vessel for a defined period), and bareboat charter (hull and equipment only, without crew or management). The agreed terms are recorded in a charter party, which serves as the binding contract for the entire freight engagement.

**Source:** [https://www.bimco.org/contracts-and-clauses/charter-parties](https://www.bimco.org/contracts-and-clauses/charter-parties)

## Quick Facts

| Property | Value |
|---|---|
| Term | Charter Agreement Negotiation |
| Language | EN |
| Word count | 128 |
| Last updated | 2026-06-23 |
| Source | https://www.bimco.org/contracts-and-clauses/charter-parties |

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