Demurrage Definition

dĭ-mûrĭj, -mŭr-
noun
The compensation payable to a carrier of freight whose vehicle or vessel is delayed, as by failure to load or unload the freight within the time allowed.
Webster's New World
The delay itself.
Webster's New World

Compensation paid for such detention.

Wiktionary
Demurrage is defined as money paid to a chartered freight carrier if the vehicle or ship is delayed, or a delay in cargo loading causing a late departure.
When a ship is not loaded on time as promised, this is an example of a time when demurrage would be paid.
When a truck leaves late because the cargo was loaded late, this is an example of demurrage.
YourDictionary

A charge made for exchanging currency for bullion.

Wiktionary
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Other Word Forms of Demurrage

Noun

Singular:
demurrage
Plural:
demurrages

Origin of Demurrage

  • Surface etymology is demur (“delay”) +‎ -age, with doubled ‘r’ to clarify pronunciation and avoid ambiguity with demure.

    From Wiktionary

  • 1640s, from Old French demorage, from demorer (English demur), from Latin demorari (“to tarry”).

    From Wiktionary

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