Container demurrage charges Sample Clauses
The container demurrage charges clause defines the fees incurred when shipping containers are held beyond the agreed free time at a port or terminal. In practice, this clause specifies the daily rate charged for each container that is not returned or moved within the allotted timeframe, and may outline the responsibilities of the parties for payment. Its core function is to incentivize timely movement of containers, prevent congestion at ports, and allocate the financial risk of delays to the responsible party.
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Container demurrage charges. This agreement will cover demurrage charges and/or late penalties assessed against you for the late return of containers when they are retained by you on our instruction for inspection following a claim to the maximum limit as stated in the statement of cover, any one loss or occurrence in addition to the sum covered. The period for which we will be liable begins at the time we instruct you to retain the containers and finishes at the time our surveyor instructs you to return the containers.
Container demurrage charges. 3.8.1 Where, following the notification of any claim, Bryte or its surveyor requires any container to be retained by the customer or the participant for inspection, then, subject to clause 3.8.2, this cover will cover any demurrage or detention charges or penalties that the customer is legally obliged to pay in respect of those containers, but only up to the limit as stated in the statement of cover, any one event.
3.8.2 The period for which Bryte will be liable begins from the time Bryte or its surveyor gives the instruction that the container must be retained for inspection and finishes at the time Bryte or its surveyor instructs the customer or the participant to return any container. This period shall not exceed 72 hours unless the customer or the participant can show reasonable grounds for an extended period, which must be agreed by the Company in writing.