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The cost which is incurred as a result of failure to load or unload a ship at th...


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Question

The cost which is incurred as a result of failure to load or unload a ship at the ports within a specified period is referred to as

Options

A)
demurrage charges
B)
premium charges
C)
excess charges
D)
trade charges

The correct answer is A.

Explanation:

This question is asking about the cost that is incurred when a ship fails to load or unload within a specified period at the ports. The options given are demurrage charges, premium charges, excess charges, and trade charges.

The correct answer is demurrage charges. Demurrage charges are the fees that are imposed on the shipper or consignee when there is a delay in loading or unloading a ship at the port. These charges are intended to compensate the port for the use of its facilities beyond the agreed-upon time.

It is important for shippers and consignees to be aware of demurrage charges and to ensure that they can meet the specified timeframes for loading and unloading. Failure to do so can result in additional costs and delays in the shipment process.

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