Demurrage
From LoveToKnow 1911
DEMURRAGE (from "demur," Fr. demeurer, to delay, derived from Lat. mora), in the law of merchant shipping, ...
Demurrage definition:
A term of maritime law which refers to the damages payable by a ship charterer, to the ship owner, as compensation for lost time; where a chartered ship is not returned to the owner on a specified date.
Demurrage: a fee levied by the shipping company upon the port or supplier for not loading or unloading the vessel by a specified date agreed upon by contract. This fee is usually, assessed upon a daily basis after the deadline.
Demurrage
an amount owed to the ship owner if the charterer of a vessel is delayed beyond the agreed upon time frame.
DEMURRAGE, mar. law. The freighter of a ship is bound not to detain it, beyond the stipulated or usual time, to load, or to deliver the cargo, or to sail.
the names of the letter to freight and the freighter; 4. the place and time agreed upon for the loading and discharge; 5. the price of the freight; 6. the demurrage or indemnity in case of delay; 7.
 See also: Charge, Person, Parties, Case, Court
  
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