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demurrrage

 

Definitions from the Web

Demurrage

Description:

Demurrage refers to the charges or fees imposed on the delay in returning borrowed goods, equipment, or transportation vehicles beyond the agreed-upon time period.

Usage:

Noun:

Sense 1:

John had to pay demurrage fees for keeping the construction equipment for an extra week.

Sense 2:

The shipping company applied demurrage charges to the cargo that was held at the port for several days due to paperwork issues.

Verb:

Sense 1:

Jane decided to demur from returning the library books on time and was consequently charged demurrage.

Sense 2:

The customer demurred on returning the leased car within the specified time, resulting in additional demurrage costs.

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