DEMURRAGE

demurrage

(noun) detention of a ship or freight car or other cargo beyond its scheduled time of departure

demurrage

(noun) a charge required as compensation for the delay of a ship or freight car or other cargo beyond its scheduled time of departure

Source: WordNet® 3.1


Etymology

Noun

demurrage (countable and uncountable, plural demurrages)

(shipping) the detention of a ship or other freight vehicle, during delayed loading or unloading

compensation paid for such detention

a charge made for exchanging currency for bullion

Antonyms

• (detention of a ship, or fee paid for it): despatch

Coordinate terms

• cranage, shippage, shorage, tonnage, wharfage

Source: Wiktionary


De*mur"rage, n. Etym: [Cf. OF. demorage delay. See Demur.] (Law) (a) The detention of a vessel by the freighter beyond the time allowed in her charter party for loading, unloading, or sailing. (b) The allowance made to the master or owner of the ship for such delay or detention. The claim for demurrage ceases as soon as the ship is cleared out and ready for sailing. M`Culloch.

Note: The term is also applied to similar delays and allowances in land carriage, by wagons, railroads, etc.

Source: Webster’s Unabridged Dictionary 1913 Edition



RESET




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