Common use of Laycan Clause in Contracts

Laycan. Not less than thirty (30) days before the start of each calendar quarter, the Parties will agree on the number of shipments, 10-day laycan and guaranteed load rate for each shipment for that calendar quarter. Not less than fifteen (15) days prior to the first day of the 10-day laycan period, Buyer shall narrow such laycan period to four (4) days within such 10-day laycan period. In the event that the Buyer wishes to ship in a vessel larger or smaller than a 70,000 to 80,000 MT +/-10% vessel, the Parties will agree on this at that time. Any additional costs incurred as a result of the use of a larger or smaller vessel will be borne by Buyer and will be agreed by the Parties at that time.