demurrage
C2CEFR level
92/100Rarity: very rare
TechnicalRegister
Law noun
Liquidated damages payable to a shipowner for detaining a vessel beyond the agreed loading or discharge time.
The charterer incurred substantial demurrage after congestion delayed the vessel at the discharge port.
Business noun
Penalty charges levied when a container or vessel is held beyond the agreed free time at port.
The dock strike left forty boxes stranded and we ate six figures in demurrage.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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