Agency fee. The agency fee is the remuneration for the agents who have attended to the ship's business during its stay at their port.
Always afloat. In order to prevent a vessel from being ordered to proceed to a berth where she cannot load or discharge without touching the ground or a berth which can only be reached safely after discharging part of the cargo into lighters or which can only be reached on spring tidal conditions, the so-called "always safely afloat clause" is inserted in the charterparty. This clause may read as follows (as in GENCON):
Arbitration agreement. This is an agreement by the parties to a contract (for example a charter )to submit all or some disputes between them in any legal relationship they may have. The "Model Law" adopted by the United Nations Commission on International Trade Law (UNCITRAL) in 1985 describes an "arbitration agreement" as follows:
AWRI Additional War Risk Insurance. This is an extra amount paid to the owner of a time-chartered vessel if the ship is ordered to a port or an area in which war or hostilities are taking place and the shipowner's insurers require an additional insurance premium for the vessel to be considered to be covered against risks in that place.
Ballast bonus (BB). It may occur that charterers, in order to attract tonnage agree to pay a certain ballast bonus. The ballast bonus serves as a compensation and incentive for the ballast (empty) trip from the ship's last port of discharge to the port where the charter will commence, for example, the first place of loading under a voyage charter or the point of delivery under a time charter. It is more common under time charters, especially in a good market when charterers are unable to obtain ships easily or at a low rate of hire.
Bunkers on delivery and redelivery. This "bunker clause" in a time charterparty stipulates that charterers shall accept and pay or all coal or fuel oil in the vessel's bunkers at port of delivery and, conversely, owners shall take over and pay for all coal or fuel ail in the vessel's bunkers at the port of redelivery at the current price at the respective ports. It is customary to agree upon a certain minimum and maximum quantity of bunkers on redelivery of the vessel (NYPE time charterparty).
All purposes. When laytime can be added together by the Charterer for loading and discharging operations as if one total time is specified to cover both operations, this is "reversible laytime" and is referred to as the number of days. far all purposes In a laytime calculation based on reversible laytime a specific clause must the charterer the option and the charterer must exercise the option after declaring that he is doing so.
Additional premium.This may be payable by charterers or shippers to the cargo insurers because of the ship's age, class or flag. The charterparty can provide that this extra premium is deductible from freight or from hire. The owner should attempt to qualify a clause with such a provision by limiting the amount of deduction and also by requiring the charterer to provide proper documentation as proof of the extra insurance before the deduction.