Charter Broker's Legal Status, Role And Responsibilities Of Research

As the bridge and ligament of both parties in a charterparty, chartering broker plays an important role in the ship chartering market. They contribute a lot for their clients, such as supplying market information, credit investigation, information counseling, securing the transportation contract, lessening clients from their numerous affairs and mediating the dissension of both parties. It is universal now that ship owners and charterers do business through chartering brokers. Alike ship agents and cargo forwarders, chartering brokerage has already become an important segment in the shipping market. But there are few articles relating to chartering brokerage, especially on the study of it. Through the analysis and study of legal status, function and obligation of chartering broker, this article makes a deep research on some legal issues about chartering broker.I have worked in a chartering brokerage company before the writing of this article and got vast knowledge relating to chartering brokerage. At the same time I established my own view and attitude on some chartering brokerage issues and then accomplished this article with the help of teachers and classmates.This article is made up of three parts: the legal status, function and obligation of ship chartering broker.The first part mainly deals with the legal status of ship chartering broker. It firstly introduces the origin of chartering broker in worldwide range and the development in China. Then it detailed discusses the sorts and character of ship chartering broker. The article divides chartering broker into four sorts: owner's broker, charterer's broker, both parties' broker and cable broker. It compares the four sorts of broker with shipping agent, mediater and hangjiren and then analyzes their nature. At last the paper introduces commission, the resource of broker's income. It mainly discusses some issues about commission payment. It also introduces address commission. The depiction of commission will benefit the research of the study on broker's legal status a lot.Part two introduces the function of chartering broker. Firstly it introduces the daily operation of brokerage, including exploitation and reception of clients, inquiring in the chartering market, negotiation, signing and assisting the performance of charterparty, which will help readers to better understand the chartering brokerage. Then it discusses the function of chartering broker, which includes cost decrease, risk prevention and market order maintenance. The analysis on the function of chartering broker will help to comprehend the status and value of chartering broker in shipping industry.In the third part this paper made a research on several issues about broker's obligation. Firstly it discusses the guide lines and duties that chartering brokers should obey in their business. Then it analyses some familiar issues incurred in chartering broker's business and puts forward several feasible settlement proposal.