Affreightment

Affreightment, also known as a freight contract or a shipping contract, refers to an agreement between a shipper or consignor and a carrier or freight provider for the transportation of goods. It outlines the terms and conditions of the transportation service, including the scope of work, responsibilities of each party, freight rates, liability, and other relevant details.  

Affreightment contracts can cover various transportation modes, such as maritime, air, road, or rail, and they provide a legal framework for the movement of goods. These contracts play a significant role in the logistics and supply chain industry by establishing the rights, obligations, and expectations of both the shipper and the carrier.