What is Despatch Money?
Despatch Money A financial incentive paid by the shipowner to the charterer if loading/unloading is completed faster than the time allowed (laytime) in the charter party.
Source: Incoterms 2020 (ICC), FIATA, IATA DGR, WCO
How is “Despatch Money” Used in Practice?
The vessel finished discharging ahead of schedule, entitling the charterer to claim despatch money from the shipowner.
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Who Needs to Know This Term?
- Freight Forwarders
- Supply Chain Managers
- Customs Brokers
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What is Despatch Money?
A financial incentive paid by the shipowner to the charterer if loading/unloading is completed faster than the time allowed (laytime) in the charter party.
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