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What provisions does a Cancelling Clause in a voyage charter party usually contain?

MCA Oral Exam Questions
Typography

(1) Charterers' option to cancel, if the vessel is not ready to load (or in some forms, to tender NOR) on the agreed cancelling date; 

(2) owners' obligation to notify charterers if it is anticipated that the ship will not be ready to load or tender by the cancelling date; and (3) charterers' obligation to declare, on receipt of owners' notification, whether they intend to cancel.

 

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