Which broker is responsible for making a recap in a Voyage Charter?

Which broker is responsible for making a recap in a Voyage Charter?

• A. Charterer's broker
• B. Owner's broker
• C. Ship Broker
• D. Insurance Broker

Answer: (A)

In voyage chartering, the recap is a precise summary of all terms agreed for the voyage, including ship, cargo, loading/discharging ports, laydays/laytime, demurrage, freight, and any special conditions. It serves as the fixture’s formal statement that the parties review before the charter party is drawn up. The Charterer’s broker is responsible for making this recap because they represent the party negotiating the terms on behalf of the charterer and must present a faithful, concise reflection of those terms to the owner’s side. This broker then submits the recap to the Owner’s broker for review and confirmation; once both sides agree, the charter party can be prepared accordingly. The Owner’s broker’s role is to review, negotiate any proposed changes, and ensure the owner’s interests are protected, but the drafting of the recap itself typically comes from the charterer’s representative. The Insurance Broker isn’t involved in fixing voyage terms. A ship broker may facilitate negotiations, but the specific recap document is driven by the party negotiating the charter, i.e., the charterer’s broker.

In voyage chartering, the recap is a precise summary of all terms agreed for the voyage, including ship, cargo, loading/discharging ports, laydays/laytime, demurrage, freight, and any special conditions. It serves as the fixture’s formal statement that the parties review before the charter party is drawn up.

The Charterer’s broker is responsible for making this recap because they represent the party negotiating the terms on behalf of the charterer and must present a faithful, concise reflection of those terms to the owner’s side. This broker then submits the recap to the Owner’s broker for review and confirmation; once both sides agree, the charter party can be prepared accordingly.

The Owner’s broker’s role is to review, negotiate any proposed changes, and ensure the owner’s interests are protected, but the drafting of the recap itself typically comes from the charterer’s representative. The Insurance Broker isn’t involved in fixing voyage terms. A ship broker may facilitate negotiations, but the specific recap document is driven by the party negotiating the charter, i.e., the charterer’s broker.