BROKERS

General

Merriam-Webster’s Collegiate Dictionary gives of the term “broker” the following definition: one who acts as an intermediary as:

an agent who arranges marriages;
an agent who negotiates contracts of purchase and sale (as of real estate, commodities, or securities)

In a more technical sense, applicable to the maritime trade, the following definition can be given: a broker is every natural or legal person who, for compensation, puts two or more persons in contact with each other, with the aim to conclude a mutual contract or agreement and in case he intervenes by the conclusion of that contract, he only does so as a representative of his principal..

There are many different contracts of agreement in which the broker can intervene.

In the case of a contract of transport or carriage, the broker is called a “transport broker”.

In the shipping trade one can encounter different types of brokers, namely: the “shipbroker”, the “chartering broker” (also called “freight broker” or “cargo broker”), the “sale and purchase broker”.

For more details see “Know How – Shipping Operations” or click on Transport Broker.

Besides the aforementioned brokers, one can also encounter:

the insurance broker;
the booking broker;
the NVOCC (Non-Vessel Operating Common Carrier);
the customs broker.

For more details see “Know How – Shipping Operations” or click on Other related persons in sea transportation.

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