On cash chartering, which is less used in the usual business practice, the owner delivers it to the charterer for the agreed period, without crew, business, insurance or other provisions. Contracts can also be entered into as a lump sum when an owner agrees to ship a certain amount of a reported shipment from one port to another for a reported amount of money. 5.5 The charterer may not charter or share a sub-charter or part with control of the vessel without the prior written consent of the owner. 6.1.1 If the charterer notifies the owner in writing that he or she will resign from the Charter at least two full months before the start of the charter period, the advance is cancelled, but the charterer assumes no responsibility for the balance of payment (and if he and/or the surety or payment of the fuel and the claim have already been paid, he will be refunded and/or refunded). If the owner charters the vessel for the charter period for no less than the charter fee, half of the down payment will be refunded. In these circumstances, the owner will do everything reasonably in his power to re-charter the vessel and must not unduly withhold his consent to re-charter, although charters that can reasonably be considered detrimental to the vessel, its reputation or its schedule. There are four main methods for chartering a tramp boat – charter, on-time charter, cash charter and „flat-rate contract.“ Travel chartering is the most common. Under this method, a vessel is chartered for a one-shot voyage between specified ports with a cargo determined at a negotiated freight rate. On a timely charter, the charterer leases the vessel for a specified period of time, for a specified round trip or occasionally for a one-way trip indicated, the rental rate being expressed in the form of such a quantity per tonne of net weight per month. While on a travel charter, the owner bears all the costs of the trip (subject to the agreement on loading and unloading costs), the charterer currently bears the costs of the bunkers and shops consumed. 1.1 The owner leases the cash charter and the charterer leases the vessel for the charter period for the charter fee. 6.3 If the vessel has taken over the Provisions of the Charter prior to the cancellation date or if the owner incurred other costs on behalf of the charterer, the charterer will reimburse these costs unless the supplier can be reimbursed in full or in part by the supplier or transferred to the next charter, in which case these fees will be adjusted accordingly.
The owner is required to reduce these costs as much as possible.