Question

If complete ship is hired, the Shipping Company issues

  1. Shipping Order
  2. Charter Party
  3. Bill of Entry
  4. Railway Receipt

Answer:

Option B: Charter Party

Detailed Solution:

The correct answer is “Charter Party”.

If a complete ship is hired, the Shipping Company issues a: (2) Charter Party. A Charter Party is a contractual agreement between the shipowner and the charterer specifying the terms and conditions under which the ship is hired.