Demurrage Payment Clause
6 August 2018
INTERTANKO Demurrage Payments Clause
- Charterers shall promptly notify Owners in writing of any objections to any demurrage claim (including objections to Owner’s supporting documents) under this charterparty.
- Unless Owners receive notification from Charterers of any objection to any demurrage claim in accordance with sub-paragraph 1 (above), and in any event, no later than [30] days following Owners’ presentation of claim to Charterers, Charterers shall be deemed to have:
(a) unconditionally accepted the claim as presented by Owners; Or
(b) waived any objection to the claim (other than those notified) including, without limitation, any time bar relating to presentation of the claim. - Charterers shall promptly pay any undisputed part of any demurrage claim amount, in any event no later than [30] calendar days following presentation of the claim to Charterers.
- Notwithstanding any other provision in this charterparty, Owners have the right to present a separate demurrage claim for loading port(s) if demurrage is incurred there.
- Payment of any demurrage claim, whether in whole in or part, shall be made by Charterers without any set off or deduction for any counterclaim, including but not limited to any cargo claim, provided reasonable security for any documented counterclaims has been provided by Owners. An undertaking from a P&I club in the International Group is agreed to be reasonable security in this respect.
- Charterers shall pay interest on all demurrage due and unpaid at LIBOR plus 2% p.a. calculated from the [30th] day after Owners’ presentation of a demurrage claim until payment is made.
