Fixture Note for Titanic Charter
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Powered by AIIf there is a delay due to cargo unreadiness at either the loading or discharging port, the charterer must pay USD 3000 per day for detention. This financial implication places a significant burden on the charterer to ensure cargo readiness to avoid hefty detention fees .
The arbitration for disputes arising from this fixture note will be governed by Chinese law and held in Beijing .
'CQD BENDS' refers to 'Customary Quick Dispatch Both Ends.' This indicates that loading and discharging should be completed as quickly as possible based on local practices at both ports. It places an implicit expectation for swift operations without a specific rate, promoting efficiency .
The fixture note states that lighterage or lightening, if necessary, is the charterer's responsibility. This implies that the charterer bears the risk and costs associated with any additional handling required to facilitate the cargo's transport, such as when the vessel cannot approach the quay .
The fixture note allocates the ship-side tally responsibilities to the owner and the shore-side tally to the charterer. This implies that both parties are responsible for ensuring accurate cargo documentation on their respective ends .
Requiring the vessel to confirm its cargo loading capability before the journey provides a strategic advantage to the charterer by ensuring that the vessel meets the specified dimensions and capacity for the cargo. This prevents unexpected issues during loading, which could cause delays and additional costs, thereby securing an efficient logistic operation .
The fixture note specifies that the freight payment is deemed earned and non-returnable once the cargo is on board, regardless of whether the cargo or vessel is lost or not. This ensures that the shipowner gets paid even if a loss occurs, transferring the risk to the charterer .
The fixture note mitigates non-payment risk by requiring full freight payment via telegraphic transfer within three banking days after the cargo is loaded and before the owner signs or releases the bill of lading. This ensures payment is secured before the ship departs the loading port .
The fixture note specifies that the charterer is responsible for the provision of shore cranes at both the loading and discharging ports. This means that any costs or logistics involved in securing shore cranes fall on the charterer, not the shipowner .
The fixture note stipulates that taxes or dues on the vessel or freight are to be borne by the owner, whereas those on the cargo are the responsibility of the charterer. This clear allocation delineates financial obligations, potentially reducing disputes over such costs .