Exam (elaborations)
CHARTERING & BROKERAGE QUIZ 2 QUESTIONS AND ANSWERS
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CHARTERING & BROKERAGE QUIZ 2 QUESTIONS AND ANSWERS
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Name: Score:51 Multiple choice questions
Definition 1 of 51
"Half despatch Laytime Save Both Ends"
Owner takes less time to load, charter pays dispatch at half the demurrage rate
-forms of liquidated damages,compensation for breach of
HDLTSBE
Inventory Control
Liner terms
Subject Stem
Definition 2 of 51
= (ship's worth + days of charter)
Deadweight
Voyage Rate
Gross Load
"Full & Down"
Definition 3 of 51
Without Guarantee
WLHTC
"WOG"
LayCan
WWD
,Definition 4 of 51
Time allowed by the charter party for loading and discharging.
Offer vs Bid
During a voyage charter... who provides the charter party?
During a time charter, who provides the charter party?
Lay days
Definition 5 of 51
charter is responsible
If it says "safe berth"
Higher
Free In and Out (FIO)
Freight
Definition 6 of 51
Offer-owner gives first offer
Bid-charter gives first offer
Types of Tons
"Full & Down"
Offer vs Bid
Demurrage vs Detention
,Definition 7 of 51
Free In and Out Spout Trim
-Charter normally pays but... if workers are needed to trim cargo on ship the OWNER must
request it and pay
"WOG"
HDLTSBE
FIOST
Panel
Definition 8 of 51
Grain^3 is greater than or equal to Bale^3
Grain^3 vs Bale^3
Demurrage vs Detention
Offer vs Bid
Tramp (Private)
Definition 9 of 51
Law/Condition that must be satisfied first before continuing
Bringing in Firm
Subject Management Approval
Subject Stem
3 Types of Insurance
, Definition 10 of 51
Bid with a reply time set.
-Counteroffer if past reply time
"Firm Offer"
Liner terms
"Light Dues"
"Frontball"
Definition 11 of 51
1. No set schedule
2. Everything open for negotiation
3. One on One negotation
Address Comission
Liner terms
Tramp (Private)
Subject Stem
Definition 12 of 51
loosing a % of the charter rate b/c of lack of performance
"Put off hire"
If it says "safe berth"
Freight
Free In and Out (FIO)
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