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Officially, demurrage is a form of liquidated damages for breaching the laytime as it is stated in the governing contract (the charterparty). The demurrage sometimes causes a loss to the seller as it increases cost of the total freight. [3] The inverse of demurrage is despatch.
If the seller is not able to organize unloading, they should consider shipping under DAP terms instead. All charges after unloading (for example, import duty, taxes, customs and on-carriage) are to be borne by buyer. However, any delay or demurrage charges at the terminal will generally be for the seller's account.
By contrast, the shipper has fewer obligations (mostly implicit), namely: (i) to pay freight; (ii) to pack the goods sufficiently for the journey; (iii) to describe the goods honestly and accurately; (iv) not to ship dangerous cargoes (unless agreed by both parties); and (v) to have the goods ready for shipment as agreed; (q.v."notice of ...
Such an incorporation is valid and enforceable even without the issuance of a bill of lading. In the reverse case, if a carrier issues a third-party shipper with a bill of lading that incorporates charterparty terms, the shipper/cargo-owner would not be liable for fees such as demurrage, which are payable only by a charter.
The law of carriage of goods by sea is a body of law that governs the rights and duties of shippers, carriers and consignees of marine cargo. [1]Primarily concerned with cargo claims, this body of law combines the international commercial law, the law of the sea and admiralty laws.
Affreightment (from freight) is a legal term relating to shipping.. A contract of affreightment is a contract between a ship-owner and a charterer, in which the ship-owner agrees to carry goods for the charterer in the ship, or to give the charterer the use of the whole or part of the ship's cargo-carrying space for the carriage of goods on a specified voyage or voyages or for a specified time.
The two terms have a specific meaning in commercial law and cannot be altered. But the FOB terms do not need to be used, and often are not. In this case the specific terms of the agreement can vary widely, in particular which party, buyer or seller, pays for the loading costs and shipment costs, and/or where responsibility for the goods is ...
Ship arrest refers to the civil law procedure whereby a ship or similar marine vessel may be arrested by judicial process and held under state authority in a particular jurisdiction pending the determination of present or future claims relating to the vessel.