Charter - Withdraw Ship for Unpaid Hire
Owner's right to withdraw ship for unpaid hire under NYPE Cl. 11 - anti-technicality notice requirement.
Action
Charterer has grace period - wait
Formula, assumptions, and limits
NYPE 2015 Cl. 11 requires owner give 2 banking days notice. Charterer can pay in full + arrears + interest to prevent withdrawal. Owners must act quickly - delay = waiver.
Symbol legend
| Symbol | Meaning | Unit | Source |
|---|---|---|---|
| Days overdue | days | CP terms |