Meaning of the word chartered in English

What does chartered mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

chartered

US /ˈtʃɑːr.tɚd/
UK /ˈtʃɑː.təd/
"chartered" picture

Adjective

1.

granted a charter, especially as a privilege or right

Example:
The university is a chartered institution.
He is a chartered accountant.
2.

(of a ship, aircraft, or vehicle) hired for the exclusive use of a person or group

Example:
They took a chartered flight to the island.
We rented a chartered bus for the school trip.