In Voyage Charters, which broker typically prepares the recap?

In Voyage Charters, which broker typically prepares the recap?

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

Answer: (A)

In voyage charters, the recap is the broker’s summary of the commercial terms negotiated for the voyage. Since the charterer is the party hiring the vessel and bearing the cargo interests, their broker handles the negotiations and drafts this recap to reflect the charterer’s proposals and present them to the shipowner’s broker. The recap records the essential points—vessel, laydays/laycan, loading and discharging ports, cargo quantity, freight rate and payment terms, and laytime or demurrage rules—so both sides have a clear, agreed reference before the formal charter party is drawn up. The owner’s broker will typically reply with acceptance or amendments, possibly issuing a counter-recap, while the insurance broker isn’t involved in drafting the voyage terms.

In voyage charters, the recap is the broker’s summary of the commercial terms negotiated for the voyage. Since the charterer is the party hiring the vessel and bearing the cargo interests, their broker handles the negotiations and drafts this recap to reflect the charterer’s proposals and present them to the shipowner’s broker. The recap records the essential points—vessel, laydays/laycan, loading and discharging ports, cargo quantity, freight rate and payment terms, and laytime or demurrage rules—so both sides have a clear, agreed reference before the formal charter party is drawn up. The owner’s broker will typically reply with acceptance or amendments, possibly issuing a counter-recap, while the insurance broker isn’t involved in drafting the voyage terms.