Legal Dictionary of Pakistan

dispatch money

Maritime law. An amount paid by a shipowner to a vessel's charterer if the vessel's cargo is unloaded at the port sooner than provided for in the agreement between the charterer and the shipowner. - Also termed dispatch. Cf. contract demurrage under DEMURRAGE."Some charters contain a provision for 'dispatch money,' which is in the nature of a reward to the charterer for loading or unloading more rapidly than provided for -i.e., in less time than the stipulated 'lay days.' Dispatch, where payable, is usually st