Demurrage and Dispatch Sample Clauses
The Demurrage and Dispatch clause governs the financial consequences related to the time a vessel spends loading or unloading cargo beyond or within the agreed laytime. If the vessel exceeds the allowed laytime, the charterer must pay demurrage to the shipowner as compensation for the delay; conversely, if operations are completed more quickly, the shipowner may pay dispatch to the charterer as a reward for efficiency. This clause ensures both parties are incentivized to adhere to the agreed schedule, thereby allocating the risk and cost of delays or early completion in port operations.
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Demurrage and Dispatch. The parties may enter into Demurrage and Dispatch arrangements by mutual agreement at the time CBH is notified of the Vessel Nomination in accordance with the Port Terminal Rules, subject to the Customer complying with the Port Terminal Rules.
Demurrage and Dispatch. Demurrage would be USD 9,000 P.W.W day holidays, Fridays excluded. Unless they are used, Dispatch rate would be half of Demurrage. Not arrival nominated vessel in agreed lay days the penalty rate would be as much as Demurrage rate. - Any delay in making payments on due date will cause non berthing of nominated vessel and it would not be entitled to any demurrage during the delay. - Lay time shall be started from the date of vessel berthing No demurrage shall be due or payable if such delay is due to any breakdown of the carrier vessel nominated by the Buyer and/or when delays are due to any breakdown of the vessel or its machinery, or lack of preparedness of the vessel or its crew and or in such events that the vessel or its crew are under official arrest or judicial arrest due to any violation of rules and procedures of the Loading Port and or the laws of the Islamic Republic of Iran for any particular act (for example and without limiting the foregoing matters related to matters of immigration, customs inspection, banned substances or contraband or smuggling or social behavior in violation of Iranian laws or such other acts or omissions ordinarily expected from a similar vessel and crew in a similar situation).
Demurrage and Dispatch. Demurrage and Dispatch rates shall be as per Charter Party, but the SELLER must inform the rates associated to the BUYER prior to fixing the vessel and the rates must be mutually agreed. Settlement for demurrage and Dispatch, if any, shall be made within twenty-one (21) days after ▇▇▇▇ of Lading (B/L) date. The SELLER shall furnish a copy of the Charter Party to the BUYER as soon as possible after fixing the vessel but before the vessel’s arrival at the Load Port. Formula:
Demurrage and Dispatch. 11.1 Unless otherwise agreed between Buyer and Seller, demurrage is payable at USD per day pro rata in accordance with Electronic Confirmation Letter.
11.2 Demurrage at the discharge port will be paid by Buyer to Seller for all time taken after the expiration of Laytime.
11.3 Dispatch at half of the demurrage rate shall be paid by Seller to Buyer for all unused Laytime.
11.4 Seller will include any demurrage and dispatch on its final invoice, to be settled at the same time that final payment is made by Buyer to Seller pursuant to the payment provisions of this Contract.
Demurrage and Dispatch. XXX shall declare the demurrage rate for each vessel at the time of nomination of ship as stated in Clause 6.