demurrage |
Definition 1
Penalty for exceeding free time (usually 72 hours) allowed for taking delivery of a shipment from the shipping or transporting company's warehouse.
Definition 2
Penalty assessed against a consignor, consignee, or other such party responsible for delay in loading or unloading of a shipping vessel or for undue detention (usually over 48 hours) of the transportation equipment. Also called detention charge.
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demurrage is in the Accounting & Auditing and Shipping, Transport, & Travel subjects.
demurrage appears in the definitions of the following terms: landing account, abatement, detention charge, collection letter and lay days
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http://www.businessdictionary.com/definition/demurrage.html







