Demurrage

The freighter of a ship is bound not to detain it, beyond the stipulated or usual time, to load or deliver the cargo, or to sail. The extra days beyond the lay days (being the days allowed to load and unload the cargo), are called the days of demurrage. The term is likewise applied to the payment for such delay, and it may become due, either by the ship's detention, for the purpose of loading or unloading the cargo, either before, during or after the voyage, or in waiting for convoy.
   

This entry contains material from Bouvier's Legal Dictionary, a work published in the 1850's.