lay-days
Noun (plural only): - In shipping and commerce: "lay-days" refer to the specific period of time allowed in a charter party (shipping contract) for the loading or unloading of cargo onto or from a vessel, without incurring additional charges for demurrage (penalty for delay).
- (The contract specified five days for loading without extra fees.)
- (If loading takes longer than the allowed time, a penalty applies.)
"Lay-days run consecutively": Lay-days are counted as continuous calendar days, not working days, unless otherwise stated.
- The lay-days began at midnight on the day the vessel arrived at the port. (The clock started ticking immediately upon arrival.)
"Lay-days are reversible": In some contracts, unused lay-days for loading can be used for discharge, or vice versa.
- The charterer used two extra days for unloading by applying reversible lay-days. (The unused loading time was transferred to the discharge period.)
Laytime (n): a synonym for lay-days, referring to the same allowed time for cargo operations.
- The laytime was calculated from the time the ship was ready to load. (The allowed period began when the vessel was prepared.)
Demurrage (n): the charge payable to the shipowner for exceeding the lay-days.
- The company paid heavy demurrage for the three-day delay. (The penalty for exceeding the allowed time was expensive.)
- Laytime: the period allowed for loading or unloading cargo.
- Loading days: days specifically allocated for taking cargo aboard.
"On lay-days": during the period allowed for cargo operations.
- The stevedores worked on lay-days to complete the loading. (The workers operated within the allowed time frame.)
"Lay-days expire": when the allowed time ends.
- The lay-days expired at noon, and demurrage began immediately. (The permitted period finished at midday.)