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Novation Agreement for the Substitution of Time Charterers

The Novation Agreement for the Substitution of Time Charterers is an agreement between the parties to novate the time charter party from the original charterers to the new charterers on terms set out in the agreement. The latest edition of this contract is the Novation Agreement for the Substitution... Please follow the link to continue reading.

Explanatory notes

Introduction Clause 1 (Novation) Clause 2 (Charter Hire) Clause 3 (Warranties) Clause 4 (Bunkers) Clause 5 (Original Charterers’ Equipment on the Vessel) Clause 6 (Effective Time Survey) Clause 7 (Mutual Renewal of Guaran... Please follow the link to continue reading.