In this article, I answer the main questions about bareboat charters: What is a bareboat charter? Is a bareboat charter a lease agreement or a contract of carriage? What are the duties and responsibilities of the shipowner and charterer under a bareboat charter? How is a bareboat charter different from other charters? The nature of a bareboat charter For practical purposes, charters in shipping are classified into three types: Bareboat (demise) Time charter Voyage charter…
This is an introductory article on time charters and voyage charters. There are three main types of charters in shipping: Voyage charter Time charter. Bareboat charter (demise charter). Charters are often compared to taxis because it is the most straightforward analogy to understand. Voyage charter Let’s begin with an example: Sergey orders an Uber to get to work. Sergei pays the price based on distance and traffic jams. He does not pay for gas and…
This article is about the FOSFA Small Claims Single Tier Rules of Arbitration. The Federation has three sets of rules in total: Rules of Arbitration and Appeal (standard rules incorporated into most FOSFA proforma contracts) Rules of Arbitration for Brokerage Commission and Interest Small Claims Single Tier Rules of Arbitration (“the Small Claims Rules”) The Small Claims Rules are not incorporated into FOSFA pro forma contracts. They only apply when the parties have envisaged them…
This article will discuss how the Gafta extension of the delivery/shipment clause works. We will also examine whether the discount applies to the whole shipment or only to a portion loaded outside the original delivery period. Extension of delivery period clauses are contained in the most commonly used Gafta proforma. These are contracts 48, 49, 64, and 100. In this article, I use Gafta 48 for illustration. General rules for extending the delivery period under…
This article is about FOSFA arbitration under the Rules of Arbitration for Brokerage Commission and Interest (“Brokerage rules). You can read about the standard FOSFA arbitration rules here. The rules are designed for brokers in case of non-payment of commission. Usually, these are simple disputes that do not involve a lot of evidence, complex legal issues, and oral hearings. The primary purpose of the rules is to make the collection of brokerage commissions a simple,…
In Billy Nicholls, Tracey Matthews v Adam Little [2022] EWHC 2344 (QB), the High Court in London granted a Worldwide Freezing Order and other measures in connection with the failure to recover the cryptocurrency Ether (ETH). What happened? Billy Nichols and Tracy Matthews approached Adam Little about investing in ETH. They considered Adam to be an expert in the matter. It appears from the judgment that the claimants transferred ETH to Adam’s wallet or provided…
Scott v Avery clause prohibits commencing litigation or seeking interim measures (such as arrest of property) before a final arbitration award. This article explains how this clause works. Background The case Scott v Avery was tried in 1856. By that time, arbitration had long existed in England. Although contracts contained arbitration clauses, the parties often broke them and sued in court. Courts had no obligation to stay litigation if there was an arbitration clause. Judges…
FOSFA arbitration (The Federation of Oils, Seeds and Fats Associations Ltd) plays a key role in international trade of oils, seeds, and fats. In this guide, we will examine the main aspects of FOSFA arbitration, including the dispute resolution process, timelines, costs, and enforcement of decisions. It is important to understand how this process works to use it effectively in commercial activities. 📕 Free practitioner’s guide — FOSFA arbitration & appeal 2026 Print-quality 26-page PDF…
Worldwide Freezing Order (WFO) is an English court order to freeze a debtor’s property worldwide. A positive judgment does not mean recovery. Courts or arbitrations can last for years, during which the debtor can withdraw money from the accounts. WFO solves this problem. Why Worldwide Freezing Order? The main things: WFO prohibits a debtor from withdrawing funds or selling assetsThe order is obtained in support of court proceedings or arbitrationWFO can be obtained in three…
This article is about arbitration under the Gafta 126 Rules. I have written about the standard Rules 125 here. Gafta created Expedited Arbitration Procedure Rules 126 for rapid dispute resolution. The Association designed these rules for simple disputes of small value. The main advantages of the Rules are speed and cost. Statistically, arbitration under Rules 126 takes 4 months, and arbitration under Rules 125 takes 8 months. The average cost under the expedited rules is…
