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Address commission (Adcom)

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Address commission (Adcom). In some charterparties a certain percentage of commission is due to charterers on the amount of freight or hire. 

Address commission is almost equivalent to a reduction in the rate of freight, as few special services are performed by charterers in return. However, the charterer will deduct the amount before paying the shipowner what is due. The commission is like a rebate for the business from the charterers.


If no address commission is due, the vessel is "free of address".

 

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