In commercial shipping, laytime is the amount of time allowed, measured in days (or portions thereof), hours, or even tides, within a voyage charter for the loading and unloading of cargo.
However, once the vessel has "arrived" at a port the charterer then assumes responsibility for the loading and unloading of cargo and has a period of laytime in which to carry that out.
[4] If the charterer's delay means that laytime is exceeded, a predetermined penalty (i.e. liquidated damages) called "demurrage" is incurred.
[5][6] If the whole period of laytime is not needed, a refund called "despatch" may be payable by the shipowner to the charterer.
[7]Another case in 2011, Suek AG v Glencore International AG (The "Hang Ta"),[8] addressed a difference of interpretation between the parties to the contract as to giving of a NOR at "a usual waiting place" instead of at the intended discharge berth.