(1) The provisions of Articles 807 (2) and 808 shall apply mutatis mutandis where a time charterer fails to repay obligations such as charterage and substitute payment to a shipowner, and other obligations under a time charter contract similar thereto: Provided, That no shipowner shall assert against a third party who has acquired, in good faith, a bill of lading issued by the time charterer.
(2) No shipowner shall exercise his/her right on the cargo pursuant to paragraph (1) exceeding the extent of the charterage or freight agreed on the cargo by a timer charterer.[This Article Wholly Amended by Act No. 8581, Aug. 3, 2007]