Changes to Gencon 1976 are shown by underlining.
Demurrage at the loading and discharging port is payable by the Charterers a the rate stated in Box 20 in the manner stated in Box 20 per day or pro rata for any part of a day. Demurrage shall fall due day by day and shall be payable upon receipt of the Owners’ invoice.
In the event the demurrage is not paid in accordance with the above, the Owners shall give the Charterers 96 running hours written notice to rectify the failure. If the demurrage is not paid at the expiration of this time limit and if the vessel is in or at the loading port, the Owners are entitled at any time to terminate the Charter Party and claim damages for any losses caused thereby.
This provision is also new. In Gencon 1976 demurrage is limited to seven running days whereupon the charterer is liable for damages. In practice the provision is almost invariably deleted. The clause creates a new regime.
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