Article 127. Obligations of the charterer for the commercial operation of the vessel and its return of the Merchant Shipping Act
1. The charterer is obliged to use the vessel and the services of its crew members in accordance with the purposes and conditions of their provision determined by the time charter. The charterer pays the costs associated with the commercial operation of the vessel.
The income earned as a result of using the chartered vessel and the services of its crew members is the property of the charterer, with the exception of income earned from salvage, which is distributed between the charterer and the charterer in accordance with Article 132 of this Law.
2. At the end of the validity period of the time charter, the charterer is obliged to return the vessel to the charterer in the condition in which it was received by him, taking into account the normal wear and tear of the vessel.
3. In case of late return of the vessel, the charterer pays for the delay of the vessel an amount equal to the freight provided for in the time charter, or an amount corresponding to the market freight rate if it exceeds the freight rate provided for in the time charter.
The Law of the Republic of Kazakhstan dated January 17, 2002 No. 284.
This Law defines the legal, organizational, economic and international foundations of public administration in the field of merchant shipping and regulates relations related to the transportation of passengers, baggage and cargo, ensuring safety in maritime transport and environmental protection.
President
Republic of Kazakhstan
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
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