FOB (Free On Board): A term in international trade indicating that the seller is responsible for the goods until they are loaded onto the ship. After loading, all responsibilities and costs are transferred to the buyer.
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Documents Required for Obtaining Ship LAYCAN
Documents Required from the Seller:
1. Q88: A form containing information about the ship.
2. CPA (Charter Party Agreement): An agreement outlining the terms of the ship’s charter.
3. Laycan Confirmation: Confirmation of the ship’s loading time.
4. IMO Number: The International Maritime Organization identification number of the ship.
5. Storage Plan: A plan for storing the cargo during loading.
Documents Required from the Buyer:
1. Q88: A form containing information about the ship.
2. CPA (Charter Party Agreement): Charter agreement.
3. Laycan Confirmation: Confirmation of the loading time.
4. Picture Net: Images of the ship and its equipment.
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Duties of Buyer and Seller
*Duties of the Buyer:*
• Arrange for the ship and ensure its readiness for loading.
• Provide the cargo and coordinate loading at the designated time.
• Send necessary documents to the seller and confirm loading time.
*Duties of the Seller:*
• Provide the goods and ensure their readiness for loading.
• Collaborate with the buyer to supply required information and documents.
• Provide information regarding the ship and its status.
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Demurrage and Loading Time
*Demurrage:* A fee incurred in case of delays in loading or unloading the ship. This fee is typically calculated for each day the ship waits at port.
*Loading Time (Laytime):* The period during which the ship is allowed to load or unload cargo. This time is usually specified in the charter agreement.
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Division of Responsibilities
*Related to Seller:*
• Provide goods and ensure their readiness for loading.
• Supply information regarding the ship and its status.
*Related to Buyer:*
• Arrange for the ship and ensure its readiness for loading.
• Provide the cargo and coordinate loading at the designated time.
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Terms Related to Ship LAYCAN
1. Q88 (Q88 Form): Ship information form.
2. CPA (Charter Party Agreement): Ship charter agreement.
3. IMO Number: International identification number of the ship.
4. Laycan: Specified time for loading.
5. Picture Net: Images of the ship.
6. AtA (Arrival at Anchorage): Arrival at anchorage.
7. Storage Plan: Storage plan.
8. Laytime: Allowed time for loading and unloading.
9. Laydays: Permitted days for performing loading/unloading operations.
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Difference Between Laytime and Laydays
*Laytime:* The duration allowed for the ship to load or unload.
*Laydays:* Specific days during which loading or unloading operations must take place.
This article clearly outlines the duties and responsibilities of both the buyer and seller in the LAYCAN process, emphasizing the importance of documentation and necessary coordination for success in this process.
