Implied terms

In contracts, including charterparties, the extent and scope of the agreement is contained in “terms” which cover the obligations and responsibilities of the parties. These terms can be written into the contract document (“express terms”) or can be considered or presumed to be pan of the agreement without being express (“implied terms”). Terms can be implied into agreements by the practice of a trade, or by legislation or by judges or arbitrators if a dispute proceeds to litigation or arbitration.