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GCE Commerce 1990 Question 33

Question 33

Transport

Charges paid by a ship for staying at a port beyond agreed sailing time is called

  1. A.profit
  2. B.interest
  3. C.holding
  4. D.carriage cost
  5. E.demurrage
Show the answer and explanation

Answer: E (demurrage)

Explanation

Demurrage is the charge for delaying a ship (or wagon) beyond the agreed time.