contract of affreightment
Definition
Binding agreement which sets forth the obligations and rights of the owner of a vessel (aircraft or ship) and a merchant. The vessel owner undertakes to provide cargo-space (at a specified time, and for a specified freight) to the merchant who is liable for payment whether or not the cargo is ready for shipment. This contract addresses issues associated specifically with a vessel, its crew, and the routes on which it will be plied. Also called contract of freightment. See also charterparty and contract of carriage.
contract of affreightment is in the Decision Making, Problem Solving, & Strategy, International Trade & Relations and Shipping, Transport, & Travel subjects.
contract of affreightment appears in the definitions of the following terms: contract of freightment, contract of carriage and affreightment
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