Charter Agreement

This charter agreement made this date, ______________________, made between ___________________, Owner and ________________, Charterer. Owner charters the vessel named ___________, with registration number, ___________, subject to the following terms and agreements:
CONDITION ON DELIVERY

The vessel is ___ years old and is valued at $ ____________ (_________________________________________&___/100 dollars), of length overall of __ feet, beam of __ feet, mean draft of ___ feet, with accommodations for __ people. The vessel is equipped with all safety equipment required by the United States Coast Guard for such vessel; the vessel was overhauled and inspected by _______________ on ______, and at that time was found or made to be found seaworthy, and otherwise in good condition. Acceptance or use of the vessel by the charterer will be deemed to be an acknowledgment that the vessel is seaworthy, in good condition, and fit for charterer’s purposes.

Charterer has the option to have the vessel surveyed by a qualified marine surveyor prior to acceptance. If a surveyor finds the vessel not seaworthy, the charterer shall be reimbursed by the owner for all of the expenses incurred in connection with this agreement, including those of the survey.

Charterer acknowledges that the vessel is of size, design, and capacity suitable for charterer’s use.
TERM AND RENT

The length of this agreement shall be ______ at a rate of $ ________ (_____________&___/100 dollars) per month payable in advance to the owner.
SECURITY DEPOSIT

Owner acknowledges that charterer has deposited with the owner as security the sum of $______ (__________________ &___/100 dollars) and charterer agrees that this deposit shall be security for performance of charterer’s obligations under this agreement.
LOCATION OF USE

The vessel will be permanently berthed at ________. Charterer shall give owner 10 days written notice of any change in permanent berthing of the vessel, and owner shall have the right of reasonable approval of any proposed change in location.

Charterer shall not remove the vessel from the following geographical area without prior written permission from the owner: _______________________.
LIABILITY FOR LOSS OR DAMAGE

Charterer assumes all risk of loss of or damage to the vessel. Charterer shall bear all expenses for fuel and other normal supplies and maintenance. Charterer shall employ persons with such licenses and ratings as may be required to operate the vessel. In the event of the breach of any term herein, Owner shall have the right to retake possession of the vessel.

Dated: ______________________

_____________________________________
Charterer
_____________________________________
Owner