Time (non-demise) charters in ship finance: tripartite agreements, letters of quiet enjoyment and step-in rights | Practical Law
This note looks at time (non-demise) charters in the context of ship finance. It outlines how a time charterer's rights can interfere with enforcement of a ship mortgage and the key features of tripartite agreements (or letters of quiet enjoyment), as well as step-in rights that are used to contractually regulate the competing interests of a time charterer and a lender.