Laytime and Demurrage

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Meaning and nature

6.1 The Laytime Definitions for Charterparties 2013 define demurrage as follows:1

demurrage” shall mean an agreed amount payable to the Owner in respect of delay to the vessel beyond the laytime for which the Owner is not responsible. Demurrage shall not be subject to laytime exceptions unless specifically stated in the Charter Party.

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