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Paydays should not be confused with daytime, which is the period allowed to the charterers for loading and/or discharging without payment additional to the freight. ... Together, paydays/cancelling or, as it is often called, the layman is the period within which the vessel must be presented at the agreed port or place.
Layman is an abbreviation for the 'Paydays and Cancelling Date' clause in a charter party. This clause defining the time window in which the charterers are obliged to accept the vessel in the loading port.
Layman or L/C — Paydays Canceling — Period during which the shipowner must tender notice of readiness to the charterer that the ship has arrived at the pod of loading and is ready to load, This period is expressed as two dates, for example paydays 25 March canceling 2 April or, when abbreviated as layman, layman 25 ...
Layman is an abbreviation for the 'Paydays and Cancelling Date' clause in a charter party. This clause defining the time window in which the charterers are obliged to accept the vessel in the loading port.
Number of days allowed by a port authority to a ship to load or unload cargo without incurring demurrage or late charges. Lay days may be expressed as (1) Running days: consecutive days including weekends and holidays. ... Lay days begin to run when the vessel is berthed or when its arrival is recorded as arrived ship.
The system calculates the demurrage fee based on the potential or actual daytime, the contractually allowed daytime, and the demurrage fee maintained in the freight contract. The system uses the formula: Demurrage costs = net demurrage time X net demurrage rate X demurrage factor.
The daytime calculation is a function that uses the daytime agreement from freight contracts and the specific daytime events saved in the carrier nomination. In the freight contract you maintain information about the allowed daytime of a vessel during loading, discharging, or lighter age.
In order to calculate the amount payable to shipowner, demurrage rate is multiplied by the number of days (or part of day) in excess of the agreed daytime. ... It is therefore essential in any charter party to know exactly when the agreed daytime has expired as the vessel, from that point, will be 'on demurrage'.
'daytime' refers to the time allowed in a voyage charter for cargo to be loaded on to or unloaded from a vessel; and. 'Demurrage' is incurred after the permitted daytime is spent.
Demurrage. ... The demurrage sometimes causes a loss to the seller as it increases cost of the total freight. The reverse of demurrage is dispatch. If the charterer requires the use of the vessel for less time than the daytime allowed, the charter party may require the shipowner to pay dispatch for the time saved.
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