The On/Off Hire Survey is a critical inspection process conducted to evaluate the condition of a vessel prior to its lease, as well as after the lease period concludes. This examination aims to provide a transparent and factual overview of the vessel’s state, ensuring that both the lessor and the lessee have a clear understanding of its condition before and after the leasing period. Before the vessel is leased in or out, the survey offers an initial assessment, setting a benchmark for the vessel’s condition. This is essential for establishing the terms of the lease agreement, making certain that both parties are aware of the vessel’s operational status and physical integrity from the outset.

Following the completion of the lease period, a subsequent inspection is carried out to scrutinize the vessel’s machinery, tools, equipment, and consumables, and to evaluate any potential damage or wear that may have occurred during the term of the lease. This post-lease survey is indispensable for assessing any changes or degradation in the vessel’s condition, allowing for a fair and objective determination of responsibility for repairs or compensation. The On/Off Hire Survey thus plays a pivotal role in the leasing process, facilitating a smooth transition of the vessel between parties and helping to avoid disputes by providing documented evidence of the vessel’s condition at critical junctures.