👉 Demurrages are a type of debt that is used to recover lost or damaged goods after delivery. They are usually incurred when a seller fails to deliver goods on time and the buyer takes legal action against the seller for damages caused by the delay. The amount of demurrage depends on the value of the goods, the method of payment, and the nature of the transaction.
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What is the definition of Demurrage? 🙋
👉 Demurrage is a measure of risk or uncertainty in supply chain management. It refers to the cost associated with delaying delivery of goods for a certain period, which can include delays due to unforeseen events such as weather, transportation disruptions, and production issues. Demurrage is typically calculated based on the time value of money, taking into account the expected loss if the goods are not delivered within the agreed upon timeframe.
