What is Demurrage?

Explain Demurrage.

Demurrage is a penalty payable to the shipping line because for shippers or consignees failing to load or discharge the ship within agreed time. Demurrage charges can vary from country to country as well as by carrier. The demurrages may be caused due to delay in documentations, inspections of containers by the authorities which may take longer than anticipated, or may the consignees doesn’t have enough finances inorder to clear the container in time etc. Sometimes if not controlled, demurrage charges can soon overtake the price of goods which will further force the consignee to abandon the cargo. Proper planning and actions is important for avoiding demurrage charges.

 

 

 

 

 

 

 

 

 

 

 

Learn Exports Imports Free, Click here

Click here to know GST rate of your goods or service

 

Master collect House collect

 How does Letter of Credit work?

How does STP units work in India?

How does TT (Telegraphic Transfer) work?

Master Collect House Prepaid

Master prepaid House collect

Master prepaid house prepaid

 Material used for testing is eligible for Modvat

Mode of payments in international trade

Mode of transport under EX WORKS/FCA/CPT/CIP/DAT/DAP/DDP/FAS/FOB/CFR/CIF

 MSDS Material Safety Data Sheet

How to import to India from Gambia?

How to export from India to Gambia?

Documents required for Export from Gambia

Customs procedures for Gambia Export

Registration required to export from Gambia

Documents needed for Gambia import

Section 163 of CGST Act, 2017 Levy of fee            

Publication of information in respect of persons in certain cases, Section 159 of CGST Act, 2017 

Section 156 Persons deemed to be public servants, CGST Act, 2017         

Power to collect statistics, Section 151 of CGST Act, 2017              

Goods and services tax compliance rating, Sec 149 of CGST Act, 2017      

Section 146 of CGST Act, 2017 Common Portal   

Section 145 of CGST Act, 2017 Admissibility of micro films, facsimile copies of documents              

Job work procedure, Section 143 of CGST Act, 2017         

Section 139 of CGST Act, 2017 Migration of existing taxpayers

Reverse Charge Mechanism Unregistered recipients under GST

Meaning of term Un-registered dealer under GST

Meaning of Unjust enrichment

Meaning of term Taxable Territory under GST

What is Taxable supply under GST

Term Taxable Turnover under GST


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers