Frequently Asked Question (FAQ)

A/E or ACC/EXC (Accept/Except) – stipulation in written offers and counteroffers for contracts of affreightment, charter parties and other shipping contracts which are used to denote that all terms have been accepted, except the terms which then are delineated and referred to as the “outstanding terms.” Negotiations will then continue on the outstanding terms.

COA - Contracts of Affreightment – while any contract for the carriage of goods may accurately be referred to as a contract of affreightment, the term COA is customarily reserved for a contract or charter party which includes provisions for multiple shipments usually on different vessels.

AFSPS (Arrival First Sea Pilot Station) - The term is usually used in a time charter party to denote the place where the vessel will be delivered by the owners to the time charterers, and the port is up river and will require not only sea pilots but river and harbor pilots.

Fee paid to a port agent by the shipowner or ship operator for arranging a berth with the port authority, ordering pilots, arranging tugs and labor, entering the ship in at Customs and collecting freight.

AGW (all going well) - a term frequently used as a subject or an exception to a warranty or stipulation, such as “the voyage will be performed in 14 days, agw.”

A freight rate which includes all extra costs or surcharges, usually prevalent in liner trades.

AP (All Purposes) and DAP (Days All Purposes) is a term in a charter party usually following the provision for laytime which indicates that the total number of days stipulated may be used for loading or discharging including waiting for a berth if the vessel is an arrived ship.

APS (Arrival Pilot Station) is the term usually used in a time charter party to denote the place where the vessel will be delivered by the owners to the time charterers.

A charter party clause usually stipulating that all disputes arising from or connected with the contract will be resolved by reference to arbitration specifying the place where the arbitration is to be held, defining the number of arbitrators and their qualifications, and determining the procedure should one party fail to nominate an arbitrator.

The rules under which arbitration will be held. Arbitrations are frequently subject to the terms published by the London Maritime Arbitrators’ Association(LMAA), the Society of Maritime Arbitrators in New York(SMA). A growing number of arbitrations are also subject to the rules published by the German Maritime Arbitration Association in Hamburg (GMAA) and the Singapore Chamber of Maritime Arbitration (SCMA).

In a voyage charter party, the ship must have arrived before laytime cancommence. Arrival may be determined by whether the charter party is a “berth” charterparty (in which case the vessel can only tender notice once she is at berth) or a port charterparty (in which case the vessel can tender notice once she is in port).
The following conditions are required for a vessel to be considered to be an “arrived” vessel:
     1. The vessel must have arrived at the loading or discharging berth or port as stipulated
in the charter; or so near thereto as she may safely get.
     2. The vessel must be fully ready for cargo operations;
     3. If and as required, Notice of Readiness (NOR) in writing, as prescribed,
must have been tendered to shippers, charterers, merchants, agents
or consignees as stipulated in the charter party. Unless otherwise
stipulated, NOR may only be required at the first load/discharge port.

Designation in a charter party, bill of lading or other shipping documents that the party executing the document is executing “as agent(s) only” and on behalf of their principal.

Condition or subject of a sale or offer which indicates that the subject cargo or vessel or other item is offered or sold in its current condition.

Term which may be included in a vessel sale and purchase contract which indicates that the vessel would be sold where she is currently lying and in her current state of repair.

ATDN (Any Time Day or Night) – Stipulation in a charter party regarding the delivery or redelivery of a vessel. Also may be used with laytime stipulations and in which case maybe followed by SHINC (Sundays Holidays Included), SHEX (Sundays Holidays Excluded), FHINC (Fridays Holidays Included) or FHEX (Fridays Holidays Excluded).

ATS (All Time Saved) - calculation of despatch money payable by the owner to the voyage charterer which is usually the time saved to the vessel from the completion of the loading or discharging operation until the end of permitted laytime.

ATUTC (All Time Used To Count) - Laytime stipulation that all time utilized by the voyage charterer will count as laytime, regardless of any other term in the voyage charter party.

 If the amount of laytime stipulated is permitted to be used for both laytime at load port and at the discharge port so that voyage charterers may avoid or mitigate demurrage, then the laytime is said to be averaged or reversed.