Definition of "Demurrage"

Lana  Headley, Associate Broker  real estate agent

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Lana Headley, Associate Broker elite badge icon

RE/MAX Real Estate Professionals

Compensation payable to the owner of a ship detained for reasons beyond his or her control who incurs a loss of earnings because of the delay. Detainment can be caused by a delay in the loading or unloading of the ship.

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