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JAMB Commerce 1997 Question 27

Question 27

Transport

The cost that arises from failure to load or unload a ship at the port within a stipulated period is known as

  1. A.excess charges
  2. B.demurrage charges
  3. C.premium charges
  4. D.trade charges.
Show the answer and explanation

Answer: B (demurrage charges)

Explanation

Demurrage is the charge for keeping a ship (or wagon) beyond the agreed time for loading or unloading.