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DEMURRAGE (from " demur," Fr. demeure...

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Originally appearing in Volume V08, Page 17 of the 1911 Encyclopedia Britannica.
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DEMURRAGE (from " demur," Fr. demeurer, to delay, derived from
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Lat.
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mora)  , in the
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law of
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merchant
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shipping, the sum payable by the freighter to the shipowner for detention of the
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vessel in
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port beyond the number of days allowed for the purpose of loading or unloading (see
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AFFREIGHTMENT: under
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Charter-parties) . The word is also used in railway law for the
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charge on detention of trucks; and in banking for the charge per
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ounce made by the
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Bank of
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England in exchanging
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coin or notes for
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bullion .

End of Article: DEMURRAGE (from " demur," Fr. demeurer, to delay, derived from Lat. mora)
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