Nautical Term: BAREBOAT CHTR
Definition of BAREBOAT CHTR
Bareboat charter owners enter into an agreement to rent a particular vessel for their exclusive use. Under this arrangement, the charter owner assumes responsibility for the technical management and commercial operations of the rented ship.
For example: The seasoned sailor, Mr. Johnson, decided to take a break from his corporate job and pursue his lifelong dream of sailing the Caribbean. After careful consideration, Mr. Johnson chose to rent a bareboat charter from a reputable charter company. Under the terms of the charter agreement, Mr. Johnson was responsible for the technical management and commercial operations of the rented ship. With the help of his crew, Mr. Johnson successfully navigated the Caribbean waters, enjoying the freedom and adventure of sailing his own boat.
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