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
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