Explain What Is Affreightment?

1.	Explain What Is Affreightment?
Answer» Affreightment is a contract between SHIP owner and MERCHANT, where ship owner provides or RENTED the space in the ship to the merchant for an agreed amount and for a SPECIFIC period. In this contract, merchant is liable for the payment whether or not the ship is ready for the SHIPMENT. Affreightment is a contract between ship owner and merchant, where ship owner provides or rented the space in the ship to the merchant for an agreed amount and for a specific period. In this contract, merchant is liable for the payment whether or not the ship is ready for the shipment.

Answer»

Affreightment is a contract between SHIP owner and MERCHANT, where ship owner provides or RENTED the space in the ship to the merchant for an agreed amount and for a SPECIFIC period. In this contract, merchant is liable for the payment whether or not the ship is ready for the SHIPMENT.

Affreightment is a contract between ship owner and merchant, where ship owner provides or rented the space in the ship to the merchant for an agreed amount and for a specific period. In this contract, merchant is liable for the payment whether or not the ship is ready for the shipment.

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