demurrage
/dɪˈmɜrɪdʒ/
noun
- A fee charged for delaying the return of a rented item, such as a shipping container, vehicle, or piece of equipment, beyond the agreed time.
- The contract included a clause about demurrage for any delay in unloading the cargo.
- If you return the rental truck late, you will be charged a daily demurrage fee.
- The shipping company had to pay demurrage after keeping the container at the port for an extra week.