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Laycan, short for "laydays and cancelling," refers to the specific time frame during which a vessel must arrive at the loading port to load cargo. It consists of two components: "laydays," which is the period during which the ship must be ready to load, and "cancelling," which indicates the latest date by which the vessel must arrive, after which the charterer can cancel the contract. This term is crucial in shipping agreements as it defines the timeline and obligations for both the shipowner and the charterer.
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What does laycan mean?
"Laycan" stands for "laydays cancelling." This term is used in shipping contracts to refer to the period of time allowed for the vessel to arrive at the loading or discharging port without incurring any penalty. It also refers to the earliest and latest dates within which loading or unloading operations can take place.
What does add mean in shipping terms?
it means to take care of the shipping and respect the terms
What does terms of PAD mean in shipping?
I am looking what does mean PAD in Shipping freight terms
What does FCO means in shipping terms?
FCO in shipping terms stands for full corporate offer. There are many abbreviations associated with shipping in a business setting.
What does CIS mean in shipping terms?
CIS: Chinese International Shipping
In shipping Terms what is a CPA?
CPA in shipping means Charter Party Agreement
What does it mean by C and F in shipping terms?
C is for cost (value before shipping) and F is for freight/shipping.
What is laycan?
Abbreviation for laydays canceling period.This period is typically expressed as a number of days to be fixed within a set begin and end date of a commodity delivery contract. When parties agree on a laycan of three set days, loading should start between those days; when more time is need demurrage cost is due. If loading has not started before end of the laycan, seller may cancel the delivery.
What does cnf mean in shipping terms?
cnf
What does CRF mean in shipping terms?
CIF
What does 'rr' stand for in shipping terms?
your dumb
What does PM4 mean in shipping terms?
pm4
