Definition of Demurrage. Meaning of Demurrage. Synonyms of Demurrage

Here you will find one or more explanations in English for the word Demurrage. Also in the bottom left of the page several parts of wikipedia pages related to the word Demurrage and, of course, Demurrage synonyms and on the right images related to the word Demurrage.

Definition of Demurrage

Demurrage
Demurrage De*mur"rage, n. [Cf. OF. demorage delay. See Demur.] (Law) (a) The detention of a vessel by the freighter beyond the time allowed in her charter party for loading, unloading, or sailing. (b) The allowance made to the master or owner of the ship for such delay or detention. The claim for demurrage ceases as soon as the ship is cleared out and ready for sailing. --M`Culloch. Note: The term is also applied to similar delays and allowances in land carriage, by wagons, railroads, etc.

Meaning of Demurrage from wikipedia

- The term "demurrage" /dɪˈmɜːrɪdʒ/ from Old French demeurage, from demeurer – to linger, tarryoriginated in vessel chartering and referred to the period...
- Demurrage is the cost ****ociated with owning or holding currency over a given period. It is sometimes referred to as a carrying cost of money. For commodity...
- and unloading the cargo. If laytime is exceeded, the charterer must pay demurrage. If laytime is saved, the charter party may require the shipowner to pay...
- euro and favors local small businesses, stimulating transactions through demurrage. Express-Money: Example for a complementary currency on a national level...
- agreed period of laytime. If the charterer exceeds the allowed laytime, demurrage becomes payable. In a voyage charter, the route is pre-arranged and the...
- charter-parties. Other terms are relevant here: demurrage, dead freight, and cesser, which are described below. Demurrage is a fixed sum per day or per hour that...
- cargo carried. If the laytime were exceeded, the charterers were to pay demurrage of $1000 per day. Serious delays occurred because the charterers had difficulty...
- The Wära was a demurrage-charged currency used in Germany introduced in 1926 as a free economy experiment. It was introduced by Hans Timm and Helmut Rödiger...
- is exceeded, a predetermined penalty (i.e. liquidated damages) called "demurrage" is incurred. If the whole period of laytime is not needed, a refund called...
- as Charter Parties. The main terms of negotiation are freight/hire and demurrage. Oil being a fast moving trade, freight rates for crude oil tanker charters...