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Nairaland Forum / Nairaland / General / Business / Detention And Demurrage Charges: Brief Comparison (655 Views)
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Detention And Demurrage Charges: Brief Comparison by bowagateglobal: 5:34pm On Mar 05, 2020 |
These two words Demurrage and Detention gets people confused most of the time. To make it easier, demurrage relates to container storage at the terminal (charged by the port), while detention relates to container usage (charged by the shipping line). In logistics, supply chain and shipping industry, the words demurrage and detention charges are widely used term for financial related fines. The fines are issued in the event of shipping violations during imports and/or exports. Although to the common person, the two terms Demurrage and Detention are almost similar. However, these are not used interchangeably as they have different approaches to handling them. READ MORE: https://bowagateglobal.com/2020/03/05/detention-demurrage/
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