Payment Terms

All amounts of the Charter Freight shall be paid in full, without deductions or set offs and free of bank charges into the OWNER’S/AGENT’S bank account, or such other account as the OWNER/AGENT may hereafter designate in writing to the CHARTERER, in the manner and at the time(s) as provided below:

Booking > 90 days before delivery

1st Advance payment: 40% of Charter Freight in Total, for booking confirmation (Card payment only). The Advance payment should not exceed the amount of 1300,00 euros. In case that, the 40% of the Charter Freight in Total, exceeds the amount of 1300,00 euros, then the amount of 1300,00 euros is paid on the booking date, and any exceeding amount should be paid (card payment or bank transfer) until 4 days after the booking date.

2nd Advance payment: 30% of Charter Freight in Total, in between the booking date and the Balance payment (Card payment only).

Balance payment: Remaining 30% of Charter Freight in Total, 7 days prior the delivery date (Card payment only).

Booking between 7 and 90 days before delivery

Advance payment: 50% of Charter Freight in Total, for booking confirmation (Card payment only). The Advance payment should not exceed the amount of 1300,00 euros. In case that, the 50% of the Charter Freight in Total exceeds the amount of 1300,00 euros, and the delivery date is more than 12 days from the booking date, then the amount of 1300,00 euros is paid on the booking date, and any exceeding amount should be paid (card payment or bank transfer) until 4 days after the booking date.

Balance payment: Remaining 50% of Charter Freight in Total, 7 days prior the delivery date.

Booking < 7 days before delivery

Card payment only: 100% of Charter Freight in Total.

Advance Fuel Allowance (AFA): The AFA charge amount, is equal to the amount of a full refuelling of the Vessel. The AFA is paid only by credit card, on the delivery date. The AFA charge, is fully refundable, if the CHARTERER redelivers the Vessel with a full fuel tank. In any other case, the CHARTERER will get a partial refund, depending on the amount of unused fuel. The CHARTERER must wait until refuelling is over.

Security deposit: The Security deposit charge amount, is equal to the insurance deductible (out of pocket) plus VAT. The Security deposit is paid only by credit card, on the delivery date (if all the conditions and requirements of the present agreement are met, the security deposit is refundable to the CHARTERER. In any other case the clauses of the present agreement are applicable).