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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 charter party). The demurrage sometimes causes a loss to the seller as it increases cost of the total freight. [3] The demurrage fee is often a daily amount agreed between charterers and ship owners.
If the currency in question is run by the government, the demurrage fee can contribute to general tax revenue. In mutual credit systems all positive accounts, or those over a credit threshold, are debited the demurrage fee if there is no trading (purchasing) after a certain period (e.g. a month or year after the last purchase). Typically the ...
Each Wära banknote had a monthly demurrage fee of one percent of its nominal value. This fee could be balanced by the acquisition of demurrage stamps of 1/2, 1, 2, 5, and 10 Wära-cents (1 cent equalled 1 Reichspfennig). On the back of the Wära banknote was a series of printed fields, where the demurrage stamps could be glued onto.
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Import fees when they reach the border of one country to enter the other country under the conditions of FOB destination are due at the customs port of the destination country. [ 14 ] With the advent of e-commerce , most commercial electronic transactions occur under the terms of "FOB shipping point" or " FCA shipping point".
With home prices still on the rise in every region of the U.S., 63% of homeowners say they'd rather remodel their homes than move to renovated homes, according to an October survey by Clever Real...
Dan Campbell is the NFL's most colorful head coach, so naturally, he found the perfect way to describe the end of the Lions' 11-game winning streak.
In commercial shipping, laytime is the amount of time allowed, measured in days (or portions thereof), hours, or even tides, within a voyage charter for the loading and unloading of cargo.
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