Penalty clause

Penalty clause. A possible Penalty clause in a voyage charterparty for non fulfilment of the contract can state:

“The penalty for non performance of this agreement shall be damages not exceeding the estimate amount of freight.”

This is the “agreed” or “liquidated” damage in the same way as demurrage is agreed for breach of the laytime clause.


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Written by Ship Inspection

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Peak tanks


Per hatch per day