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104848eight hoursis made late, the owner can accept thatpayment as if it were punctual, waiving theright to withdraw. Alternatively he can rejectthat payment and proceed to withdraw theship. The bank does not have authority toaccept the late payment on his behalf. Theowner must however act promptly inrejecting the payment.4. Are there any restrictions on the right towithdraw? The Anti-technicality clauseA withdrawal clause can operateharshly on a charterer, in particular wherethe failure to pay is due to an oversight, orto technical issues at the bank. In mostcharters, to avoid any abuse of thewithdrawal clause, the parties agree to ananti-technicality clause or grace period .For example:Where hire is due and not received theOwners, before exercising the option ofwithdrawing the vessel from theCharterparty, will give Charterers forty-eighthours notice, Saturdays, Sundays andHolidays excluded and will not withdraw thevessel if the hire is paid within these fortyThe clause gives the charterer an opportunity torectify any default in payment within that graceperiod. The length of the grace period variesdepending on the respective bargaining positions ofthe parties at the time of the fixture. It may rangefrom 48 hours to up to 10 days.5. Can the right to withdraw be lost?If the owner has repeatedly accepted late tenderof hire without complaint this may establish a courseof conduct. This may prevent the owner fromexercising the right of withdrawal on a subsequentlate payment by the charterer. In this situation, theowner should first give notice to the charterer that hewishes to enforce its strict contractual rights despitethe earlier course of dealing.Acceptance of part hire on or before the duedate does not amount to a waiver of the right towithdraw. The owner would be wise to indicateexpressly to the charterer that he does not waive hisright in these circumstances.The owner also must make the decision to