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. BIMCO has published a new edition of BARECON, the industry`s standard contract for cash chartering. 1.2 The down payment is made as a down payment to secure the vessel for the charter period and will be paid to the owner upon signing of this agreement. If the advance is paid by the charterer, the owner agrees not to enter into any other charter agreement for the vessel for the same period. The balance will be paid to the owner no later than the date shown here on that date. The deposit and/or payment of fuel and accident are paid to the owner before the start of the charter period. 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. As part of a traditional part of the freight time charter, the right to suspend the non-payment of rent provides landlords with a powerful commercial tool for using late rents. However, on the basis of feedback from the sector, the application of the same sanction under BARGEHIRE is not feasible. This eBook contains an exemplary copy of the 2001 BARECON contract and the accompanying explanatory notes in the latest version. 1.1 The owner leases the cash charter and the charterer leases the vessel for the charter period for the charter fee. 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.