Layday definition

Layday means a day off work with pay to which an employee becomes entitled by working on board of a vessel.
View Source
Layday or “Laytime" means the period of time as determined by the Buyer within which the vessel is required to be loaded or discharged. "Letter of Credit or “L/C" means the letter of credit to be opened and established by the Buyer in favour of Seller for import and supply of the Product on C&F basis. Format of the L/C is given in Annexure “F” to this Agreement.
View Source

Examples of Layday in a sentence

  • Layday Positions When wage increments, provided for in the wage schedule, are effected, the Employee's layday position will be determined by the amount of dollars (plus or minus) in his layday account divided by his new daily pay rate.

  • Layday Positions When wage increments, provided for in the wage schedule are effected, the Employee’s lay day position will be determined by the amount of dollars (plus or minus) in his lay day account divided by his new daily pay rate.

  • Layday (Getting out of the Red): Officers may only bump the most junior Officer working (without regard to shift preference) to reduce his/her red day balance unless there would be a more positive effect on his negative red day balance by bumping any junior Officer.

  • Layday otherwise called, Laytime is the period agreed between the parties to a charterparty for the loading and unloading of a cargo without penalty to the parties chartering the vessel1.

  • Layday Positions When wage increments, provided for in the wage schedule, are effected, the Officer's layday position will be determined by the amount of dollars (plus or minus) in his layday account divided by his new daily pay rate.

  • In the event the Buyer’s vessel arrives late for loading (“late” shall mean if the vessel tenders NOR after midnight local time on the last day of the Layday range specified in cl.

  • Layday and other daily charges will continue to accrue through the day that the Vessel departs the Contractor’s facilities.

  • All officers shall receive a detailed pay statement at the end of each month indicating the following: Gross pay; Guild dues deductions; Statutory deductions; (listed separately) Taxable benefits: (Layday Accounts to be provided aboard ship): GROUP INSURANCE, BENEFIT PROGRAM, AND RETIREMENT SAVINGS PLAN GROUP INSURANCE AND BENEFITS The Company shall continue to provide and assume the cost of the Group Insurance and Benefit program.

  • Laytime shall not commence until NOR is tendered, nor prior to 06:00 on the first Layday, provided, however, that if the Vessel is berthed prior to the first Layday with Seller’s consent, laytime shall commence when the Vessel is All Fast.

Related to Layday

  • Payday means the regular and recurring established day for payment of Compensation to an Employee of the Company or any Designated Subsidiary.

  • Weekend means a Saturday and the following Sunday, assuring a minimum of fifty-six (56) hours off duty;

  • School day means any day or partial day that students are in attendance at school for instructional purposes.

  • Daytime means the period between sunrise and sunset.

  • Working Day means any day other than a Saturday or Sunday or public holiday in England and Wales.