Demise Charter

Demise Charter is a synonym for Bareboat Charter. Under a demise, the charterer takes the vessel without crew or provisions, takes possession and effective control, crews and operates the vessel at their own cost, and bears all risk. The legal owner remains the registered owner but the charterer is the de facto operator.

The term "demise" emphasises the legal transfer of control: the ship is "demised" (handed over) to the charterer for the duration. See also Bareboat Charter Party and the BARECON standardised form.