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38 U.S. Law Commentary on Tanker Time Charters based on ExxonMobil Time 2005 Form

Time Charters

38 U.S. Law Commentary on Tanker Time Charters based on ExxonMobil Time 2005 Form U.S. Law Commentary on Tanker Time Charters based on ExxonMobil Time 2005 Form 1 IT IS THIS [insert day] DAY of [insert month and year] MUTUALLY AGREED 2 between [ Insert full-style name of the owner, or chartered owner ], a company organized 3 under the laws of [ insert Owne’s domicile ] and having its head office at [ insert address of 4 Owner’s head office ], as owner ( “Owner” ) of the M.T. [ Insert the name of the vessel 5 using all italics ], as more fully described and warranted herein ( “Vessel” ), and [ Insert the 6 full-style name of the Charterer ], a company organized under the laws of [ insert 7 Charterer’s domicile ] and having its head office at [ insert address of Charterer’s head 8 office ], as charterer ( “Charterer” ), that Owner lets and Charterer hires the use and 9 services of the Vessel for the carriage of [ Insert cargo description ], in bulk, and such 10 other lawful merchandise as may be suitable for a vessel of her description, for the term 11 and on the terms and conditions hereinafter set forth in this time charter party 12 ( “Charter” ). 38A.1 The type of petroleum or other liquid products to be carried is customarily described by a general categorization, to which viscosity and other characteristics are sometimes added. Thus, the description may be “crude and/or dirty petroleum products” or “clean petroleum products.” The nature of the cargoes carried is, of course, highly important to the owner in so far as it relates to the condition of the vessel’s tanks, pumping capacity and safety gear. The loading of cargo not within the described category would be a breach and would expose the charterer to a claim for damages. See The Witfuel , SMA 1381 (Arb. at N.Y. 1979), where the loading of a distillate clean petroleum product was held to be a breach of the charter which restricted the charterer to crude and/or dirty petroleum products. On the other hand, the owner would be in breach if the chartered vessel was incapable of carrying the specified cargo safely (see paragraph 9A.4 ).

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