Demurrage and Despatch. (a) The applicable Demurrage/Despatch rates shall be as per Seller’s Charter Party or Contract of Affreightment and Seller shall provide an extract of such Charter Party or Contract of Affreightment with the vessel owner to Buyer referencing applicable Demurrage/Despatch rates for the purpose of calculating the Demurrage/Despatch amount. Such Demurrage/Despatch rates shall be in line with the market standard rates applied by similar vessels carrying copper concentrates on similar voyages. (b) If a Parcel is not discharged from the vessel within the Allowed Laytime, Demurrage shall be payable by Buyer to Seller calculated per running day of 24 hours (fractions pro rata). (c) Notwithstanding Section 4.8(a), Seller shall pay Buyer Despatch for Laytime saved at the Discharge Port in relation to the shipment of any Parcel, calculated per running day of 24 hours (fractions pro rata) at half of the Demurrage rate. (d) The Despatch/Demurrage amounts relating to a Parcel shall be reflected in the Final Invoice submitted by Seller with respect to such Parcel.
Appears in 2 contracts
Sources: Copper Concentrate Sales Agreement (Thompson Creek Metals Co Inc.), Copper Concentrate Sales Agreement (Thompson Creek Metals CO Inc.)