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Gencon, Charter Party, Chartering Contracts Definitions, Introduction

 

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“GENCON”-General Charter Conditions (agreement), or Gencon Charter Party, is the most commonly form of voyage charter party used worldwide,
and particularly known also as “Gencon 1994”.
Gencon, first issued in 1922 and revised in 1976 and 1994.
“Gencon 1994” includes two parts.
Part 1;
Is the “box form” which all the necessary information to be completed by the parties.
Part 2;
Contains all the standard terms and conditions which are usually non-negotiable.

“Gencon Charter Party” form sample   Gencon sample pdf

 

“CHARTER PARTY”-Is a written contract between the Shipowner and the charterer.
The consequences of their negotiations that consists of agreed terms and conditions. It is signed by both parties and serve as very important document.
The charter party can adopt any form and drawn up by anybody, however it is preferable to use the standard common used “Gencon Charter Party”

 

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Additional Definitions:
 
Chartering = an agreed deal, whereby the shipowner puts his ship or a part of it at the disposal of the charterer, for the carriage of goods between named ports.
The charterer can in turn, sublet the ship or a part of it to a third party, who now becomes the “Disponent Owner”.The chartering agreement is contained in a document, called “Charter Party”.
 
Booking Note= usually issued by the booking agent,in some cases replaced the charter party,it’s much simpler document and will be used for which the tonnage was reserved long or some time in advance,and usually refers to the clauses and terms of the bill of lading.
 
Voyage Carter,(in the tramp trade)=in which a cargo ship is chartered for a one-way sailing trip/voyage between specified seaports, with a specified cargo at a negotiated and agreed rate of freight (the price per weight ton or volume cbm).
 
Time Charter=the charterer undertakes to hire the ship for a stated agreed period of time or for a specified round-trip sailing or, occasionally but rare, for a stated one-way voyage, the rate of hire being expressed in terms of so much per ton deadweight per month,or otherwise agreed.Whereas on a voyage charter the ship-owner bears all the expenses of the cargo ship voyage, on time charter the charterer will be responsible for these bills,(subject to contract terms-conditions).
 
Contract of Affreightment-COA,= is a contract between the shipowner and the charterer in which the shipowner agrees to carry the goods (the loaded quantities are not taken into account,but the cargo ship space availability) in a certain lump-sum/fixed price amount from loading location/s to discharging location/s as agreed and accepted by the parties in the contract.

 

 

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