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WAEC Commerce 1998 Question 98

Question 98

Transport

Penalty imposed by a ship owner for exceeding the period of charter is

  1. A.lump sum
  2. B.dock dues
  3. C.tariff
  4. D.demurrage
  5. E.dead freight
Show the answer and explanation

Answer: D (demurrage)

Explanation

Demurrage is charged when a ship is kept beyond the agreed time.