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Demurrage" / d ɪ ˈ m ʌ r ɪ dʒ / [1] in vessel chartering is the amount of liquidated damages owed by a charterer to a shipowner when the charterer remained in possession of the vessel for the purpose of loading and unloading beyond the time allowed by contract. [2]
The rate of demurrage (if any) is generally accepted as the measure of the damages for detention, but is not necessarily the true measure. When the claim is for detention and not demurrage the actual loss is recoverable, which may be more or may be less than the agreed rate of demurrage.
Chartering is an activity within the shipping industry whereby a shipowner hires out the use of their vessel to a charterer. The contract between the parties is called a charterparty (from French charte partie 'parted document').
A consignment agreement is an agreement between a consignee and consignor for the storage, transfer, sale or resale and use of the commodity. The consignee may take goods from the consignment stock for use or resale subject to payment to the consignor agreeably to the terms bargained in the consignment agreement. The unsold goods will normally ...
A new definition proposed by a global commission could change medical care for millions of adults. An expert explains what this could mean for you. 5️⃣ A forgotten talent: ...
conventional lien (United States)—a lien created by agreement between the parties in circumstances where the law would not otherwise create a lien. deferred lien (United States)—a lien that only takes effect from a future date. demurrage lien—a carrier's lien on goods for any unpaid demurrage charges.
A detention dam is a dam built to catch surface runoff and stream water flow to regulate the water flow in areas below the dam. [1] Detention dams are commonly used to reduce the damage caused by flooding or to manage the flow rate through a channel. [2] Detention dams can also be constructed to replenish groundwater and trap sediment. [2]
Detention basin, an artificial flow control structure that is used to contain flood water for a limited period of time; Immigration detention, imprisonment of an unauthorised person entering a country; Preventive detention, detention intended to prevent criminal acts; Remand (detention), the keeping in custody of an arrested person awaiting ...