Demise Charter Law and Legal Definition
Demise charter is a contract whereby the ship owner leases its vessel to the charterer for a period of time during which the whole use and management of the vessel passes to the charterer. In such a situation, the charterer pays all expenses for the operation and maintenance of the vessel. Officers and crew become servants of the charterer. A demise charter whereby the charterer has the right to place its own master and crew on board of the vessel is called a bareboat charter.