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Topic: Demurrage

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	Haugen Consulting LLC: Demurrage Solutions (Site not responding. Last check: 2007-10-17)
		Tanker vessel demurrage, an ancillary cost that represents liquidated damages for delays, occurs when the vessel is prevented from the loading or discharging of cargo within the stipulated laytime.
		Conversely, under commodity contracts of sale, demurrage is assessed basis the agreed delivery terms (very often demurrage terms are either not included in the Sales Contract or they are not clearly defined leading to disputes as to the allocation of liability between the commercial trading partners).
		Detention, as opposed to demurrage, applies for delays occurring through fault of the Charterer wherein the damages are not governed contractually by the laytime and demurrage terms.
	www.haugenconsulting.com /whatisdemurrage.shtml (266 words)

	MMA - Customer Services
		Demurrage is the charge assessed by a railroad when a patron uses an excessive amount of time to load or unload a car.
		Demurrage as includes the charges for storing empty cars assigned to customers, as well as charges for holding cars containing hazardous commodities.
		Allowances are tariff provisions for relief of demurrage charges due to a condition not attributable to the shipper or consignee.
	www.mmarail.com /cs_demurrage.php (707 words)

	Demurrage - P2P Foundation
		Although demurrage was applied as long ago as Ancient Egypt in the form of a storage cost for commodity-backed currency, the best-known example of instituted in the town of Worgl, Austria, in 1932 by its beloved mayor Uttenguggenberger.
		Demurrage has a number of economic, social, and psychological effects that are highly relevant to our discussion.
		It is further proposed that there is a demurrage (opposite of interest) for currency which is not in circulation('savings accounts') to encourage the use of currency as an active tool for trade and exchange.
	www.p2pfoundation.net /index.php?title=Demurrage&printable=yes (1512 words)

	Demurrage documentation: Don't miss the boat
		Demurrage should be a matter between the owners and the charterers but often ITIC has to pay substantial amounts because a ship manager or shipbroker has not forwarded the claim documentation within the time permitted by the charterparty.
		Therefore, if the charterers receive the demurrage claim and documents within those first sixty days, the claim would also act as notification and be valid.
		The fact that the owners can show that the demurrage claim was validly presented may not be the end of the matter as far as the brokers are concerned.
	www.itic-members.com /pubs/interm10-03page17.htm (750 words)

	Blanchard Column, 5/95 Railway Age
		Also, some short lines find themselves trying to enforce demurrage on customers who never paid--never saw bills or ignored those they did--when their lines were owned by the predecessor roads.
		Our goal is to show why demurrage is a legitimate charge, de-link it from car-hire, and administer it evenly and as humanely as possible.
		Under these circumstances, demurrage on privately owned cars constructively laced on railroad owned track is a bargain compared to switching charges for cars placed on the cusotmer's track and then moved within the customer's facilit.
	www.rblanchard.com /railway/ra95-05.html (931 words)

	Comment on the Wörgl Experiment with Community Currency and Demurrage
		The most celebrated case in which a demurrage currency was issued was that of the Austrian town of Wörgl.
		The Wörgl experience has often been heralded by modern day Gesellians as proof of the effectiveness of demurrage in stimulating the circulation of currency, and thus, as the main feature that is necessary for the economic advantages of a community currency to be realized.
		As to whether the demurrage feature was an effective element in causing this result, the evidence is far less compelling.
	circ2.home.mindspring.com /TGWoerglCommentDistributed.htm (2055 words)

	Half demurrage under the Asbatankvoy form clause 8 - SKULD
		In September this year, an award was rendered in London arbitration on the question whether half demurrage under the Asbatankvoy charter party applied when the stoppage occurred during laytime as opposed to during demurrage.
		Demurrage was incurred because laytime was exceeded because of the breakdown to the shore’s equipment during laytime.
		Thus, the resulting demurrage would have to split between demurrage accrued due to the breakdown, which would count half, and demurrage accrued regardless of the breakdown, which would count in full.
	www.skuld.com /templates/newspage.aspx?id=881 (1257 words)

	How to uncouple demurrage charges from car-hire - railroad logistics Railway Age - Find Articles
		Also, some short lines find themselves trying to enforce demurrage on customers who never paid - never saw a bill or ignored those they did - when their lines were owned by the predecessor roads.
		Customers will accept demurrage charges if you don't make them punitive, don't charge if you can't get the car (tri-weekly service, e.g.), and offer the customer who usually turns the cars promptly a way to ease the occasional hit.
		Under these circumstances, demurrage on privately owned cars constructively placed on railroad owned track is a bargain compared to switching charges for cars placed on the customer's track and then moved within the customer's facility.
	www.findarticles.com /p/articles/mi_m1215/is_n5_v196/ai_16919689 (963 words)

	Shireburn Shipping System
		The Demurrage module allows collection and recording of demurrage deposits, the automatic calculation of demurrage amounts due by the client as well as by the agency to the principal and the effecting of refunds on demurrage deposit or charging for demurrage over and above the demurrage deposit.
		The system allows recording of the demurrage rates that the agency will be charged by the principal as well as the standard demurrage charges and deposits levied on the client.
		Demurrage charges are able to be recorded in a foreign currency.
	www.shireburn.com /web/sslweb.nsf/f3b70e46ba774a61c12569ef005b59a5/a20b83f29ec825c1c1257015003d8b46?OpenDocument (3191 words)

	Venus Lines v. CVG Interntaional America (11th Cir. 2000)
		As Venus admitted at oral argument, the invoices for 1995 and 1996 demurrage charges were not sent to CVGIA, and the invoices to the consignees were not presented to CVGIA until Venus filed this lawsuit in 1998.
		Because we find that Venus' delay in demanding payment for the 1995 and 1996 demurrage charges was inexcusable and prejudicial, we hold that the district court correctly held that the doctrine of laches barred those demurrage claims.
		Demurrages are penalties for delays in the loading and unloading of goods.
	www.admiraltylawguide.com /circt/11thvenuslines.html (2237 words)

	OOCL - Rule 21 - Free Time and Demurrage
		However, if the cargo has already incurred demurrage charges for the period up to the originally scheduled vessel sailing date, then shipper shall be liable for such demurrage and carrier shall only absorb charges and costs from the date of the originally scheduled vessel sailing.
		Free time and demurrage at destination on non-containerized cargo, and containerized CFS cargo shall be in accordance with the local terminal tariffs, as applicable.
		Any demurrage charges that are accrued resulting from delays due to regulatory inspection and/or quarantine are to be billed for account of the cargo.
	www.oocl.com /eng/ourservices/eservices/tariffandrates/iatautrule/rule21.htm (856 words)

	Demurrage/Calendar (Site not responding. Last check: 2007-10-17)
		This demurrage chart applies to all freight cars actually or constructively placed for loading or unloading and is based on tariff rules in effect at time of issuance.
		If both of these requirements are not fulfilled, a $35.00 per car demurrage fee will be assessed beginning with the second 7:00 a.m.
		Demurrage will be assessed at the rate of $35.00 per car for each 24-hour period or fraction thereof for the first four days.
	www.rrvw.net /demurrage_calendar.htm (604 words)

	Demurrage Services (Site not responding. Last check: 2007-10-17)
		Intertek demurrage consulting services are based on simple fees for services rendered.
		Demurrage is a charge required as compensation for the delay of a ship, tanker or barge beyond its scheduled time of departure from a port or marine terminal.
		Demurrage refers to the detention of a ship, tanker or barge beyond its scheduled time of departure, which usually creates added costs to the shipper or cargo owner.
	www.itscb.com /newsitetest/news/demurrageservices.shtml (254 words)

	Schedule Number 3 SECTION V - WHARF DEMURRAGE AND STORAGE
		Thereafter, wharf demurrage shall be assessed against such cargo unless or until the cargo is accepted for wharf storage.
		At the time the merchandise is placed in Wharf Demurrage or Storage, the storer, subject to the provisions of Part (b) hereof may declare in writing a value greater than 11.3 cents per 0.4536 kilos, and in the event such declaration shall be conclusively presumed to be not in excess of the value so declared.
		Wharf Demurrage Charges, Storage Charges and Storage Receiving and Delivery Charges, are for the account of the cargo and any transfer of ownership after the cargo is received on the terminal will not entitle cargo to additional free time by reason of such transfer of ownership.
	www.portofsacramento.com /040901/sched3sectionv.html (1270 words)

	Demurrage Freight Bond,Mortgage Surety Bonds,Contractor License Bond,ICC Broker Bond
		Demurrage is term used by the shipping and other services to indicate the surcharge charged on the delayed goods.
		For industries which sold items on the rented containers, these demurrage freight bonds are used for free rental container given for a specified period.
		The demurrage freight bond is used by many fields like shipping, railway, banking, business and foreign exchange.
	www.integritybonds.com /demurrage_freight_bond.php (431 words)

	[No title] (Site not responding. Last check: 2007-10-17)
		At the discretion of Global, any merchandise subject to demurrage charges may be removed from the Terminal and placed into public storage at the risk and expense of the goods.
		For cargo on demurrage on the canceled date of sailing, the export shipper until such time as he takes on of said action.
		Demurrage shall be assessed from the time the cargo was received at the Terminal facility to the day of its removal with no Free Time allowance.
	www.glenrate.com /GlobalTerminals/t0000062.htm (657 words)

	Kansas City Southern Demurrage/Accessorial Charges (Site not responding. Last check: 2007-10-17)
		Demurrage will be calculated on the credit and debit plan.
		If demurrage days exceed credits, charges will be assessed at a rate of $75/per chargeable day.
		Credits or demurrage days assessed on cars released in one month will not be carried over to another month.
	www.kcsi.com /customer/cus_dbkcs_6.html (299 words)

	Legal Definition of 'Demurrage'
		DEMURRAGE - The freighter of a ship is bound not to detain it, beyond the stipulated or usual time, to load or deliver the cargo, or to sail.
		The extra days beyond the lay days (being the days allowed to load and unload the cargo), are called the days of demurrage.
		The term is likewise applied to the payment for such delay, and it may become due, either by the ship's detention, for the purpose of loading or unloading the cargo, either before, during or after the voyage, or in waiting for convoy.
	www.lectlaw.com /def/d131.htm (145 words)

	Transaction Net Currency Glossary: Money-Related Terms
		A proposed currency which would use a fixed basket of a dozen commodities as a reference and backing of a currency designed for international trade.
		The cost of storage of the commodities backing would be passed along to the bearer, and functions therefore as a built-in demurrage charge.
		Demurrage is a way of encouraging people to use the currency not as a store of value but only as a medium of exchange.
	www.transaction.net /money/glossary.html (2662 words)

	National Grain and Feed Association
		Demurrage: For barges applied before or after arrival at the destination specified by the contract, the Buyer shall be entitled to such free time and demurrage terms as specified by the contract.
		The contracts did not specify a demurrage schedule and the NGFA Trade Rules are silent on this matter as well.
		The arbitrators concluded that both parties were at fault for failing to contractually address the demurrage issue in the grain contracts.
	www.ngfa.org /article.asp?article_id=1875 (1407 words)

	FORWARDERLAW.COM : LIBRARY
		The plaintiff sued to recover container demurrage charges from the defendant pursuant to a clause in its standard form bills of lading and waybills that imposed liability for late return of containers on the Merchant.
		If the container demurrage clause had been worded differently, so that it was not premised upon the container being unpacked at the Merchantâs premises, the ocean carrier would have been entitled to recover from the forwarder as Merchant.
		Any container demurrage clause that simply imposes an obligation on the Merchant to pay the ocean carrier in the event of late container redelivery will still be effective to impose a container demurrage obligation on a freight forwarder who is party to the contract.
	www.forwarderlaw.com /library/view.php?article_id=156 (644 words)

	UP: Terms and Conditions – General Rules, Demurrage & Fuel Surcharge
		Part of that commitment is to maintain a fluid and adequate supply of rail cars and to ensure that all rail car assets, both railroad- and privately-owned, are utilized as optimally as possible.
		To encourage efficient use of rail cars by all parties, the transportation industry utilizes a demurrage system that charges a fee for the extended use of a freight car.
		Generally, the calculation of demurrage allows 24 hours of demurrage-free time for loading of equipment and 48 hours for the unloading of equipment.
	www.uprr.com /customers/myterms.shtml (841 words)

	OOCL - Demurrage & Detention Free Time and Charges (Site not responding. Last check: 2007-10-17)
		*Demurrage and Detention Free Time and Charges for all Trades except for cargo originating from/destined to US ports and points via US ports.
		Demurrage charges are applied for storage of laden containers whilst in OOCL’s care in a port, rail terminal, feeder terminal, inland depot or container yard.
		Demurrage is applied after a designated free time.
	www.oocl.com /uk/eng/localinformation/ddfreetime (685 words)

	Informa (Site not responding. Last check: 2007-10-17)
		Laytime and Demurrage, 5th edition is the only book to deal with all aspects of laytime, demurrage and detention, tracing the development of the law from its origins in the nineteenth century and earlier, right up to the early years of the twenty first century.
		The laytime and demurrage clause appears in almost all carriage contracts and consequently there are now over 1,000 reported cases on the subject.
		The 5th edition is an indispensable book for those new to laytime and demurrage as well as anyone who needs a more in-depth analysis.
	www.informalaw.com /lpp744 (454 words)

	News - Demurrage Rates to Increase July 1, 2006
		We have concluded that CSX's low demurrage charge, which has not materially changed since prior to 2001, must be adjusted to address the new demand reality.
		The daily demurrage rate for railroad owned cars will be increased to $90.00 effective July 1, 2006, to promote the timely handling of cars.
		The daily demurrage rate for refrigerated cars will be increased to $150.00 effective July 1, 2006.
	www.csx.com /?fuseaction=customers.news-detail&i=24531 (469 words)

	Purchasing/Stores: Demurrage Billing
		Two documents will comprise your monthly billing for rental demurrage, the Demurrage/Rental Billing and the Invoice.
		It also references the Customer PO No (which is the sales order number of the original purchase), the Task Option Project, its Status (either issued or return), number of Billed Days, and the Point of Contact.
		Because up to one month of demurrage is credited per cylinder or equipment rental, when it is returned, it will show the dollar amount of credit up to 31 days.
	www.washington.edu /admin/purchstores/stores/demurrage.html (334 words)

	DEMURRAGE SPECIALISTS INTERNATIONAL
		DSI established itself as the first company providing a cost-effective, efficient and professional service to facilitate demurrage claims.
		DSI’s record of recovering outstanding demurrage monies and mediating disputes arising out of Charter Parties as well as sales and purchase contracts is exemplary.
		DSI’s highly qualified staff of associates is comprised of individuals with more than 25 years experience who are dedicated to the continued success of DSI’s objectives.
	www.demurrage.com (168 words)

	National Grain and Feed Association
		The demurrage amount was deducted from the last invoice of the American Milling Co.
		Feed Trade Rule 14 states that if the seller fails to ship as required by the contract and fails to provide legitimate car numbers evidencing proper shipment on the contract, the seller is liable for all extra costs and expenses.
		The Arbitration Appeals Committee recalculated the demurrage and determined that the total demurrage liability should be $34,900.
	www.ngfa.org /article.asp?article_id=2177 (923 words)

	Demurrage Management Solutions - Home
		It provides railroad customers with a view of all cars on hand that have active demurrage records and produces a running calculation of the charges or credits that have already accrued
		Managing the railcar demurrage process to reduce costs and verify the accuracy of demurrage invoices is all but impossible for most companies that use rail.
		The system allows you to monitor railcars as they move through your facility and then captures this information to insure accurate invoicing because the demurrage tariff rules for each Class 1 and many regional/shortline railroads are programmed into the system.
	www.dmstracker.com (289 words)

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