maritime law/ charter parties (the question is written at assignment criteria part)

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The concept of foreign exchange obtained its primary momentum from the trade rebellion in the late 19 century. Voyage and time charters…

Introduction

r some principal part of her for a voyage or series of voyages or for a period of time (see Caffin v Aldridge [1895] 2 QB 366; [1895] 2 QB 648 for discussion on hiring of entire capacity of ship)”2
Here, I am employed by a company which is in the process of negotiating a time charter of vessels for the ship owner. My duty is to give an advice about the Paramount Clause, and differences among them. “There are several standard agreements, such as box time, or New York Produce Exchange (NYPE). Box time is favored more than NYPE, which dates to the 1920s and contains archaic language”3
According to the provisions stated in “the unaltered Time Charter Party Outlines, it is the Charterer (rather than the possessor) who is primarily in charge of loading, storing, and discharging the load. Nevertheless, the Master is always entitled to supervise those operations and there may be certain situations where responsibility shifts back to owners”4
In contrast, not odd for Charter parties to alter to make the master responsible for storing, loading, and finally discharging procedure and, in those cases, the liability is reassigned, even where the stevedores are occupied by the Charterer. “At the close of the 19 C, the United States Congress enacted the Harter Act, 46 U.S.C. §190, et seq. (1893), to protect American shippers from comprehensive limitation of liability clauses found in bills of lading issued, primarily, by British liner companies carrying American goods to England”5
In the case of time charter, it is the hiring of a ship for a particular period of time; the owner still controls the ship, but at the same time the charterer chooses the ports and directs the ship where to go. For Chartering out any of the ships by shipping and trading organizations, BPCL, empanelled dealers registered with BPCL, and oil majors, will be intimated on the list of all positions, cargo grades, trading part, laycan etc. Negotiations in the business reveal that, ...
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