lay days

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The number of days allowed to a ship to load or unload without incurring demurrage. Reversible lay days permit the shipper to add to the days allowed for unloading any days he has saved while loading. Lay days may be calculated as running days (all consecutive days), working days (excluding Sundays and public holidays), or weather working days (working days on which the weather allows work to be carried out).

Subjects: Law — Business and Management.

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