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Laytime is defined in Voyage Charter party Laytime Interpretation Rules 1993 as the period of time agreed between the parties during which the owners will make and keep the vessel available for loading or discharging without payment additional to the freight.
The words without payment additional to the freight are important.
Consult an attorney for more information about your right to cancel a contract or purchase.
Below you will find references to the Texas laws that govern the right to cancel certain consumer contracts.
The cancelling date is the final layday and the date beyond which, if the chartered vessel has not been presented for loading, the charterers may reject her and cancel the charter.
It is time allowed to the charterers for cargo operations without additional payment and should, in the interests of the owners, commence as soon as practicable.
The clause may provide for separate laytime for loading and discharging or for total laytime.; the master should check the charter party.
What is Laycan Laydays refers to a period of specified days (e.g.
Jan 7/16) during which owners must present the vessel for loading.