What does Bareboat Charter mean? Read on to discover the definition & meaning of the term Bareboat Charter - to help you better understand the language used in insurance policies.
An agreement between a ship owner and a charterer (an individual or company chartering a vessel) that essentially gives the charterer complete responsibility for the vessel and its operation over the course of the charter. The charterer is also normally responsible for the control and payment of the ship's crew.
We hope the you have a better understanding of the meaning of Bareboat Charter.