Chartered Party Agreement

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CA.Pankaj Nyati (Querist)
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14 July 2010 What is the purpose of Chartered Party Agreement which is the part shipping Docs.

whether it is require to submit the same to custom authorities to process of final assessment of import in custm???

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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24 July 2010 sir,

CHARTER-PARTY is a contract. A contract of affreightment in writing, by which the owner of a ship or other vessel lets the whole, or a part of her, to a merchant or other person for the conveyance of goods, on a particular voyage, in consideration of the payment of freight. This term is derived from the fact, that the contract which bears this name, was formerly written on a card, and afterwords the card was cut into two parts from top to bottom, and one part was delivered to each of the parties, which was produced when required, and by this means counterfeits were prevented.

Regards

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