charter-party

The Sailor's Word-Book

The deed or written contract between the owners and the merchants for the hire of a ship, and safe delivery of the cargo; thus differing from a bill of lading, which relates only to a portion of the cargo. It is the same in civil law with an indenture at the common law. It ought to contain the name and burden of the vessel, the names of the master and freighters, the place and time of lading and unlading, and stipulations as to demurrage. The charter-party is dissolved by a complete embargo, though not by the temporary stopping of a port. It is thus colloquially termed a pair of indentures.

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