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When a ship overstays the allowed number of days at the port, it is made...

Commerce
WAEC 2014

When a ship overstays the allowed number of days at the port, it is made to pay

  • A. interest
  • B. tariff
  • C. demurrage
  • D. commission
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Correct Answer: Option C
Explanation

Demurrage is a charge payable to the owner of a chartered ship on failure to load or discharge the ship within the time agreed.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts