laytime
C2CEFR level
93/100Rarity: very rare
TechnicalRegister
Law noun
The period allowed to the charterer under a voyage charter for loading and discharging the cargo without additional payment.
Laytime commenced once a valid notice of readiness had been tendered and the vessel was an arrived ship.
Business noun
The period allowed to a charterer for loading or unloading a vessel before penalties apply.
Because the berth was congested, laytime expired and the charterer incurred heavy 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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