Bareboat Charter

Charter party — also called a demise charter — in which the charterer takes full operational and commercial control of the vessel for a fixed period, including the duty to crew, insure, maintain, and fund operations. The owner delivers a vessel ready for service and receives a daily rate. Bareboat charters are common in tax-driven leasing structures, in long-term financing arrangements with purchase options, and in flag-state requirements that demand local registration. BIMCO BARECON 2017 is the standard form; redelivery condition disputes are the main commercial battleground.