CHARTER-PARTY 585
be declared by the consignee forty-eight hours before the vessel
arrives at her first port, otherwise this cargo will be landed at the
first port mentioned in the bill of lading, unless a special condition
is attached to the bill.
Bottomry Bond.—A bill, by means of which a ship or the
freight she earns is pledged in return and as security for money
advanced.
A bottomry bond must only be raised when it is impossible to
obtain credit, or to raise money by giving bills on the owners. It
must be clearly a case where the money is necessary to enable the
ship to proceed to her port of destination. Money advanced to the
master on a bottomry bond must only be expended on what is necessary
for the continuance and completion of the voyage.
More than one bottomry bond may be raised if circumstances
arise rendering it necessary. The last raised must be repaid first.
If the ship is lost before reaching her port of destination, the
lender loses the money advanced. If she arrives, he is repaid the
amount, plus the agreed upon interest or premium.
C. C.—A certificate for the coasting trade, corresponding to the
A.A. certificate for foreign-going vessels.
Charter-party.—A charter-party is a contract or agreement
whereby a shipowner or master covenants for the use of the ship
by the charterer for a specified voyage or time.
Special forms of charter-party are in use for particular trades or
voyages ; but in all charter-parties the master or owner warrants
the ship to be tight, staunch, and strong, and fitted for the voyage—
i.e., she shall be seaworthy.
The following are some of the principal points which generally
appear in charter-parties:—
Freight Clause.—Stipulating the amount of freight, and when
and how it is to be paid.
Lay Days or Hours.—The charter-party specifies the number
of lay days or, in some cases, the number of hours, in which the
cargo is to be loaded and discharged. It also specifies the kind of
lay days or hours, i.e., whether " working " or " running " days, etc,
If " working " days, then all the days on which it is not usual to
work, at the port where the ship is, are not counted* If " running>r
days, then every day counts. " Weather working " days are some-