A charterparty is a contract by an owner or disponent owner1 to make the capacity of an entire vessel or some principal part of her available to another person, the charterer, for a voyage or series of voyages or alternatively for a period of time. There are three main categories of charterparty:
(1) a voyage charterparty whereby the vessel is chartered for a specified voyage2;
(2) a time charterparty whereby the vessel is chartered for a specified period of time
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