Some Aspects of Laytime – Terminology and Definitions
Year: 2025
Type: article
Abstract: Laytime is a central concept in voyage charterparties, determining the allocation of time during the vessel’s stay in port. Its interpretation has a direct impact on the vessel’s non-productive time costs or on the premium for quick dispatch, particularly in relation to the payment of demurrage to the carrier or dispatch to the charterer, as may be agreed. This article examines some definitions and general conditions related to the laytime concept. It further discusses the role of standard definitions and interpretative rules developed in maritime practice, such as the Charterparty Laytime Definitions and the Voyage Charterparty Laytime Interpretation Rules. Special attention is given to the interaction between contractual clauses and judicial interpretation, highlighting the importance of consistent legal understanding for the balance of interests between carrier and charterer.
Authors: Milev Dobrin, Dimitrakiev Yordan
Institution: Nikola Vaptsarov Naval Academy
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W7092575560
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