This scientific research has been made on the international carriage of cargo by sea contract – charter party structure and interrelationship of its parts. Emphasis were done on the charter parties and their main responsibilities. Great attention was paid on limitation of liability of parties and its regulation. In addition, specific requirements to ship and cargo according to charter party has been analyzed as well. Main parties obligations in respect of ship condition as well as cargo has been reflected. It is very important to summarize charter party structure which makes great impact on voyage performance as well as parties obligations and responsibilities which has been also defined in this research. The work contains regulation and analysis of freight payment and laytime calculation. By the time of research most of charter party elements were compared in parallel with national legislation.