CHARTER CANCELLATION BY CHARTERER Clause Samples
The 'Charter Cancellation by Charterer' clause defines the charterer's right to terminate the charter agreement before the scheduled commencement or during its term. Typically, this clause outlines the conditions under which cancellation is permitted, such as notice periods, payment of cancellation fees, or specific events like vessel unseaworthiness. Its core function is to provide a clear mechanism for the charterer to exit the contract while balancing the interests of both parties by specifying the consequences and procedures for cancellation, thereby reducing uncertainty and potential disputes.
CHARTER CANCELLATION BY CHARTERER. Notification must be by email and if ▪ More than 30 days - Full deposit refunded less a $100 cancellation fee ▪ Between 30 days and 7 days – Full deposit forfeited ▪ Less than 7 days - All monies paid forfeited VYC reserves the right to cancel any charter due to inclement weather or any condition that would compromise safety (including mechanical issues). VYC will offer a full refund or a re-schedule with a 10% discount.