Definition of "Demurrage"

S.Shoushan  Saraydarian real estate agent
S.Shoushan Saraydarian, Real Estate Agent Keller Williams Realty Greater Nassau

Compensation payable to the owner of a ship detained for reasons beyond his or her control who incurs a loss of earnings because of the delay. Detainment can be caused by a delay in the loading or unloading of the ship.

 

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