# Create Time Charter In Contracts

{% hint style="info" %}
To create a Time Charter Out contract go to [Create Time Charter Out](/voyage-management-system/step-by-step-guides/voyages/create-voyage/create-time-charter-out.md)
{% endhint %}

### Before Starting

Confirm the following master data is available in VMS before creating a contract:

* The vessel exists and is active
* The [Business Partners](/voyage-management-system/step-by-step-guides/master-data/business-partners.md) (Owner and Charterer) exist in the system
* The [Company](/voyage-management-system/step-by-step-guides/master-data/companies.md) and Business Unit are configured

### Steps:

1. **Open Chartering** → **Time Charter Contracts** from the left-hand menu.
2. In the top right corner, click the <img src="/files/-M23aB95JDSUt7kYOdWo" alt="" data-size="line"> icon.
3. Select **Create Time Charter Contract.**

The **Create Time Charter Contract** modal opens. The modal is draggable — hover over the title bar to reposition it and see information behind it.

**3.** Enter the required fields.

| Field                    | Description                                                                                                                                                                                                                                              | Required |
| ------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- |
| **Vessel**               | The vessel to be hired.                                                                                                                                                                                                                                  | ✅        |
| **Delivery Port**        | The port where the vessel is delivered to the charterer.                                                                                                                                                                                                 | ✅        |
| **Delivery Date**        | The date the vessel is delivered.                                                                                                                                                                                                                        | ✅        |
| **Redelivery Port**      | The port where the vessel is redelivered to the owner at the end of the charter.                                                                                                                                                                         | ✅        |
| **Company**              | The internal company under which this contract is recorded.                                                                                                                                                                                              | ✅        |
| **Business Unit**        | The business unit within the company.                                                                                                                                                                                                                    | ✅        |
| **Owner**                | The vessel owner counterpart.                                                                                                                                                                                                                            | ✅        |
| **Charterer**            | The charterer counterpart.                                                                                                                                                                                                                               | ✅        |
| **CP Date**              | The charter party date — the date the contract was agreed.                                                                                                                                                                                               | ✅        |
| **Duration**             | The numeric length of the charter period.                                                                                                                                                                                                                | ✅        |
| **Duration Measurement** | The unit of the duration — Days or Months. When set to Days, the Rate Unit is automatically fixed to `/day` and cannot be changed.                                                                                                                       | ✅        |
| **Rate**                 | The hire rate agreed in the contract.                                                                                                                                                                                                                    | ✅        |
| **Rate Unit**            | The time unit against which the hire rate is expressed — `/day` or `/month`. Defaults to match the Duration Measurement. When Duration Measurement is Days, or when Index-based Hire is enabled, this field is set to `/day` and locked. See note below. | ✅        |
| **Rate Currency**        | The currency of the hire rate.                                                                                                                                                                                                                           | ✅        |
| **Bunker Currency**      | The currency used for bunker cost recording on this contract.                                                                                                                                                                                            | ✅        |
| **Bunkers**              | The Delivery and Redelivery Bunker Terms per Bunker Category                                                                                                                                                                                             |          |

> **Note:** Rate Unit and Duration Measurement can differ. For example, a contract may have a duration expressed in months but a hire rate quoted per day. In this case, set Duration Measurement to Months and Rate Unit to `/day`. All hire calculations and invoicing will use the Rate Unit, not the Duration Measurement.

> **Important:** If Index-based Hire is enabled on the contract, Rate Unit is automatically set to `/day` and the field is disabled. This cannot be overridden.

**4.** Click **Create.**

The contract is created and opens in the Time Charter Contract drawer, where further details — including TC Duration periods, hire periods, and commissions — can be added.

### The Create Modal:

<figure><img src="/files/u9KPzT9fKM9b4bJ6s6LS" alt=""><figcaption><p>Create Time Charter Contract modal</p></figcaption></figure>


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