Common use of Demurrage Clause in Contracts

Demurrage. (i) If the nominated cargo is not loaded within the time allowed in accordance with section 9.8.a, the time so allowed shall be extended till the commencement of final disconnection of hoses/chickson after completion of loading, and Seller shall pay to the Buyer demurrage in currency USD/day in respect of the excess time at the appropriate rate per day (or pro-rata for part of the day) as herein specified. In the event of delay directly attributable to fire or explosion or breakdown of failure of equipment, plant or machinery at the Loading Terminal, the rate of demurrage shall be reduced by half for the period of such delay. (ii) The appropriate rate of demurrage shall be; 1. Demurrage rate as per Charter party. Buyer shall provide relevant extract of Charter party document to ascertain Charter party rate. 2. Any demurrage incurred on account of bad weather shall be shared equally between Buyers and Sellers (iii) Any demurrage claim must be notified to the Seller in writing within 60 days of the date of loading of cargo, with full supporting documents (the time computation, NOR, statement of facts, where applicable evidence of charter party rate). Seller may seek any other documentation as reasonably required. If the Buyer fails to give such notice or provide such documentation within above time limits, then the Buyer’s claim shall be deemed to be forfeited and any liability of the Seller for such demurrage shall be extinguished.

Demurrage. (i) If the nominated cargo is not loaded within the time allowed in accordance with section 9.8.a, the time so allowed shall be extended till the commencement of final disconnection of hoses/chickson after completion of loading, and Seller shall pay to the Buyer demurrage in currency USD/day in respect of the excess time at the appropriate rate per day (or pro-rata for part of the day) as herein specified. In the event of delay directly attributable to fire or explosion or breakdown of failure of equipment, plant or machinery at the Loading Terminal, the rate of demurrage shall be reduced by half for the period of such delay. (ii) The appropriate rate of demurrage shall be; 1. Demurrage rate as per Charter party. Buyer shall provide relevant extract of Charter party document to ascertain Charter The applicable single voyage charter party rate. 2. Any demurrage incurred on account However not exceeding 20000 USD per day pro-rata. Exchange Rate for conversion of bad weather USD amount into INR shall be shared equally between Buyers and Sellersthe RBI Reference Rate on B/L Date as published by FBIL. In case no RBI Reference ▇▇▇▇ has been published on that date by FBIL, the rate published on next following day shall be taken. (iii) Any demurrage claim must be notified to the Seller in writing within 60 days of the date of loading of cargo, with full supporting documents (the time computation, NOR, statement of facts, where applicable evidence of charter party rate). Seller may seek any other documentation as reasonably required. If the Buyer fails to give such notice or provide such documentation within above time limits, then the Buyer’s claim shall be deemed to be forfeited and any liability of the Seller for such demurrage shall be extinguished.

Demurrage. (i) If the nominated cargo is not loaded within the time allowed in accordance with section 9.8.a, the time so allowed shall be extended till the commencement of final disconnection of hoses/chickson after completion of loading, and Seller shall pay to the Buyer demurrage in currency USD/day in respect of the excess time at the appropriate rate per day (or pro-rata for part of the day) as herein specified. In the event of delay directly attributable to fire or explosion or breakdown of failure of equipment, plant or machinery at the Loading Terminal, the rate of demurrage shall be reduced by half for the period of such delay. (ii) The appropriate rate of demurrage shall be; 1. Demurrage rate as per Charter party. Buyer shall provide relevant extract of Charter party document to ascertain Charter party rate. 2. Any demurrage incurred on account of bad weather shall be shared equally between Buyers and Sellers. (iii) Any demurrage claim must be notified to the Seller in writing within 60 days of the date of loading of cargo, with full supporting documents (the time computation, NOR, statement of facts, where applicable evidence of charter party rate). Seller may seek any other documentation as reasonably required. If the Buyer fails to give such notice or provide such documentation within above time limits, then the Buyer’s claim shall be deemed to be forfeited and any liability of the Seller for such demurrage shall be extinguished.