Demurrage definition

Demurrage as herein used means all charges associated with the disposition of Crude Oil, including all damages borne or incurred by Carrier as a result of such disposition.

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Demurrage means the defined level of damages paid to a vessel owner for the delays in loading or discharging the vessel after the Laytime has expired. It is customarily expressed in US dollars per day or portion thereof.

Demurrage means the charge levied for the detention of any rolling stock after the expiry of free time, if any, allowed for such detention;

Examples of Demurrage in a sentence

• The Seller shall not be liable for the consequences of rejection or delay (including but not limited to Demurrage) of the vessel or the restriction suffered in respect of the Vessel by virtue of the application of any regulations or other requirements of Article 9.2, 9.3, 9.4, 9.5 and the Buyer shall be liable for any costs or damages incurred by the Seller arising out of any such rejection of, delay to or restricting of the Vessel.

• The rate for demurrage and/or deviation shall be the fixed dollar figure specified in Part I (J) or the rate derived by determining the applicable rate from the WORLDSCALE Demurrage Table for tonnage specified in Part I (J) and multiplying that rate by the Base Freight Rate.

• Loss, damages, expense or delay caused by failure on the part of the Framework Provider’s nominated Vessel to comply with the requirements of ISPS, ISGOTT and SOLAS, and any new or amended regulations, shall be the responsibility of the Framework Provider and shall count as Demurrage, if appropriate.

• The foregoing provisions as to payment of half the Demurrage Rate in respect to weather and/or sea conditions shall not apply where the Vessel is lightered or discharged at sea.

• If demurrage is incurred, on account of such delays, it shall be paid at half the Demurrage Rate.

More Definitions of Demurrage

Demurrage means the time in excess of the laytime allowed to Buyer calculated as per this Clause 16 and/or the agreed damages payable by Buyer to Seller for the excess time for Time Chartered Vessels as will be agreed upon pursuant to Clause 14(a)(iii).

Demurrage means the economic compensation made in cash, through a bank deposit or by wire transfer, which the Seller pays to the Buyer for having exceededthe Laytime agreed upon as per the Special Provisions.

Demurrage means all costs, damages, penalties and charges resulting from any delay in excess of two (2) business hours in loading of Product shipments, including, without limitation, any delay related to any Transport Carrier, as applicable: (i) being incapable of timely loading any shipment of Product due to mechanical failure or for other reasons, or (ii) delivering any shipment of Product to an incorrect Delivery Point.

Demurrage means an agreed amount payable to the owner in respect of delay to the vessel beyond the laytime, for which the owner is not responsible. Demurrage shall not be subject to laytime exceptions.

Demurrage or “wharf demurrage” means a charge assessed against cargo remaining in or on terminal facilities after the expiration of free time unless prior arrangements have been made for storage;

Demurrage means a fee assessed to cargo stored or remaining on site after it has been discharged by a vessel, applied to cargo not covered under ground leases.

Demurrage means the charge payable to the Government of Nepal by the exporter or importer of goods if such exporter or importer fails to take delivery of such goods stored at the customs godown run by the Customs Office within the prescribed time limit.