Demurrage

Rarity: Common

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At a glance

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Notion

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Science and technology

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What Wikipedia says

"Demurrage" 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 (laytime) beyond the time allowed by contract.

Excerpt from the Wikipedia article “Demurrage”, under the CC BY-SA 4.0 license. Read the article on Wikipedia