demurrage


demurrage

noun Commerce.

  1. the detention in port of a vessel by the shipowner, as in loading or unloading, beyond the time allowed or agreed upon.
  2. the similar undue detention of a railroad car, truck, etc.
  3. a charge for such undue detention.

noun

  1. the delaying of a ship, railway wagon, etc, caused by the charterer’s failure to load, unload, etc, before the time of scheduled departure
  2. the extra charge required as compensation for such delay
  3. a fee charged by the Bank of England for changing bullion into notes
n.

1640s, from Old French demorage, from demorer (see demur).

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