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Demurrage is a fee charged to a shipper or consignee for exceeding the time limit allowed for loading or unloading cargo at a terminal or port. Demurrage fees are typically imposed when a shipment has been kept at a terminal or port beyond the agreed-upon time limit for loading or unloading, and is designed to incentivise shippers and consignees to move their cargo in a timely manner. The fee is typically calculated per day, and is usually specified in the shipping contract or bill of lading.