A time charter shall come into effect when a shipowner agrees to provide a charterer with a ship serviced by the crew on board and equipped with navigation facilities for a given period to be used for navigation, and the charterer agrees to pay the fare determined by the period in response thereto.[This Article Wholly Amended by Act No. 8581, Aug. 3, 2007]
Laws › Commercial Act › SECTION 4 Time Charter
Commercial Act — Article 842 (Meaning of Time Charter)
상법 제842조
This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.
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