Which of the following is not a characteristic of Charter party?

The characteristic that is not associated with a charter party is "An association of ship owners". A charter party is a legal document or contract between the ship-owner and the charterer, which outlines the terms and conditions of the shipment of goods or transportation of people by sea. The document shows the freight charges, the destination, the type of ship to be used, and the duration of the contract. The three types of charter party include Time charter, Voyage charter, and Bareboat (charter by demise). The whole or part of a ship can be leased depending on the agreement, but the charter party does not involve an association of ship owners.