Charter Party was a dark bay gelding with no white markings bred in Ireland by Avia Riddell Martin, who once described him as "the biggest, ugliest camel you have ever seen".

[3] As a four-year-old, Charter Party was sent to the Doncaster Sales in May 1982 and was bought for 8,000 guineas by Raymond and Jenny Mould who owned the Grange Stud in Guiting Power, Gloucestershire.

On his first appearance of the next season Charter Party fell in the Hennessy Gold Cup, before winning at Kempton Park on Boxing Day, but then ran poorly at Windsor in January.

He fell in the Gainsborough Chase at Sandown (won by Desert Orchid) and was beaten when attempting to concede twenty-eight pounds to the future Grand National winner Mr Frisk at Nottingham.

[5] On his first appearance of the 1987/1988 National Hunt season, Charter Party was beaten on heavy ground at Lingfield Park but improved to finish a handicap chase at Kempton on Boxing Day under a weight of 168 pounds.

In February the gelding carried 151 pounds in the Gainsborough Chase, and established himself as a serious contender for the Cheltenham Gold Cup, winning by eight lengths from the Welsh National winner Rhyme 'n' Reason, with Desert Orchid third ahead of Run and Skip.

With Desert Orchid switched to contest the Queen Mother Champion Chase, the favourite for the race was Play School, a New Zealand-bred gelding who had won the Welsh National and the Vincent O'Brien Gold Cup since relocating to Britain.

Cavvies Clown took the lead early on the second circuit and took the fourth last in front from Charter Party, whilst Forgive 'n' Forget who appeared to be travelling best of all in third sustained a serious leg injury and was immediately pulled up.

With most of the other runners beginning to struggle, the Gold Cup became two-horse race, with Cavvies Clown turning into the straight a length in front of Charter Party.

In February he finished last of four behind Desert Orchid in the Gainborough Chase and then fell in the Vincent O'Brien Gold Cup, which was won by Carvill's Hill.

Desert Orchid started favourite, whilst the other runners included Carvill's Hill, Cavvies Clown, The Thinker, West Tip and Ten Plus.

On 22 November 1989, Charter Party started at odds of 8/1 for the Edward Hanmer Chase over three miles at Haydock Park on what was to be his final racecourse appearance.