Re-delivery notice
C1. Commercial shipping, chartering, economics and financeDefinition
Notice of expected redelivery under time charter.
A redelivery notice is the charterer’s advance notification to the owner of the expected date and place the ship will be returned at the end of a time charter, given in a tiered sequence (for example approximate notices at 30, 20, 15, and 10 days, then firm notices at 7, 5, 3, and 1 day). The notices let the owner arrange the next fixture and any drydocking. Redelivery must fall within the agreed range and within the charter period, subject to the legitimate-last-voyage rule; early or late redelivery and underperformance trigger claims. The charter party sets the notice schedule and the redelivery range in the redelivery clause.
Source: NYPE 2015 redelivery and notices clause