📚 A Basic Definition in English Here is a core definition from an English source: Demurrage: “A separate freight charge, in addition to ordinary shipping costs, which is imposed according to the terms of a carriage contract upon the person responsible for unreasonable delays in loading or unloading cargo. In maritime law, demurrage is the...Continue Reading

Here is the correct order and explanation, presented in English: Corrected Sequence and Explanation There is an apparent inconsistency between the two clauses. However, in standard practice, they work together in the following sequence: Guarantee Phase: The buyer issues an SBLC (Standby Letter of Credit) to the seller. The seller’s bank approves (confirms) the SBLC....Continue Reading