Demurrage

Summary of Demurrage

Charges payable by a shipper or consignee to a carrier for failing to unload, release, or otherwise return to service the carrier’s equipment within a prescribed period of time. The amount of free time allowed to load, unload, or return the equipment and the rate of charges are specified in the carrier’s tariff or the contract of carriage. In the vessel charter agreements, demurrage is a penalty payable to the owner of the ship by the charterer for failing to complete loading or unloading within the time specified in the charter party.

(Main Author: William J. Miller)

Spanish Translation of demurrage and extra lay days

This is the legal translation of English to Spanish in relation to demurrage or extra lay days and / or a definition of this topic: Sobreestadía (in Spanish, without translation of the dictionary entry).

Demurrage in International Trade

Meaning of Demurrage, according to the Dictionary of International Trade (Global Negotiator): The extra charges paid to a shipowner or carrier when a specified period for loading/unloading is exceeded. The demurrage may, depending on the context, be paid by the charterer or shipper. Also known as detention. See detention charges.