All food, fuel and supplies are provided by the charterer A charter, often referred to as a cash charter, requires a written agreement between the owner of a ship and a charterer whose charterer uses the vessel for a specified period of time and is de facto considered an owner. A cash charterer may delegate to the owner, crew, passengers transported and other legal obligations. Any provision that tends to demonstrate the possession or control of the vessel by the owner`s sole owner or operator would be a contradiction as to the existence of a valid and legal cash charter. There are no technical administration or maintenance in a cash charter as part of the agreement. The charterer receives full possession and control of the ship, as well as the legal and financial responsibility of the ship. The charterer pays for all operating costs, including fuel, crew, port costs, and P-I and Hull insurance. A chartered vessel may not carry more than 12 passengers without a Certificate of Control (IOC) The charterer may unload the master or crew member without being asked. The owner of the vessel must not be on board during a cash charter. A vessel as a boat bed and breakfast, in which the owner or operator is considered to be on the ship overnight, is a commercial activity, is always limited to 12 passengers and requires a written contract (cash boat contract) when the vessel is built abroad and does not involve a maradical waiver. Bluesail Group LLC is committed to ensuring that all of our managed vessels operate legally and with the highest safety and maintenance standards. We advise you to print and bring on board your fully executed bare hull charter contract if you operate a bare hull charter and ensure that each rented crew is properly trained and qualified. If you have any questions about the application of charter navigation rules within our managed fleet, please contact us at the email@example.com.
A cash charter is indeed a financing agreement. It is generally considered a lease-sale agreement, particularly leasing, for accounting purposes, in accordance with both international accounting standards (IFRS 16) and U.S. accounting standards.  The charterer is responsible for the safe navigation of the vessel, a cash charter contract must not provide or dictate a crew. The charterer must be able to select a crew and have the opportunity to unload the crew The charterer must have the opportunity to select and pay the crew, although the owner may require general knowledge for the crew, which is maintained on the basis of federal law. There are legal differences between a cash charter and other types of charter arrangements, commonly known as travel or charter charters. During a trip or time charter, the charterer charters the vessel (or part of it) for a specified or specified period of time. In these charters, the charterer may direct where the vessel will go, but the ship`s owner retains possession of the vessel through his employment with the master and crew. On the other hand, in a boat or a cash charter, the owner hands over the owner`s possession of the vessel and the charterer hires his own captain and crew.