Laytime
Category: Logistics
Definition (plain English)
The allowed time for loading or discharging cargo under a charter agreement before extra charges may apply.
Why it matters commercially
Laytime controls demurrage exposure in bulk and chartered shipments.
Example
A commodity trader monitored discharge rate because slow port handling would consume laytime and trigger demurrage.
Common mistake
Signing charter terms without knowing who controls loading speed, weather exceptions, notice of readiness, and demurrage rate.
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