GENCON 94 Clause 7 — Demurrage

Clause 7 provides for demurrage at the agreed daily rate, in proportion for part of a day, once the laytime allowed is used up. Once on demurrage, time counts continuously: weekends, weather, shifting and agreed exceptions no longer stop it. LayGrounded cites Clause 7 for demurrage under rule set 3 (rule sets 1 and 2 label demurrage GENCON94-8), and under every rule set beside an agreed despatch rate. Despatch is paid on laytime saved, only at a rate the parties entered: under GENCON 94 LayGrounded supplies no rate of its own.

Source: Standard charter-party form (GENCON 94). General reference information about a standard charter-party form — not legal advice.