Reoccurring Charters Clause Samples
The Reoccurring Charters clause establishes the terms under which a charter agreement is automatically renewed or repeated for subsequent periods. Typically, this clause outlines the conditions that trigger renewal, such as the absence of notice to terminate, and may specify the duration and frequency of each renewal period. For example, a vessel charter might automatically renew for another year unless either party provides written notice within a set timeframe. The core function of this clause is to provide predictability and continuity in contractual relationships, reducing administrative burdens and ensuring ongoing service without the need for renegotiation each term.
Reoccurring Charters. The above charters are defined as those charters scheduled on a weekly, bi- weekly, or monthly basis (two (2) or more a month). These charters will be posted and assigned by seniority subject to the following: The successful applicant will be assigned to only one (1) of the above postings. Any new reoccurring charters will be posted for five (5) working days. Successful applicants for said postings will be eligible for all other charter work providing the driver is available (does not interfere with home to school runs).