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Laytime & Demurrage MasterClass

Understand concepts and current practices in laytime and demurrage calculations for conventional, general, container and dry / wet (tanker) cargo chartering. Address uncertainties in laytime and demurrage definitions currently used in charterparties and minimise disputes arising from how they are interpreted. Understand the contractual and legal complexities surrounding laytime and demurrage.

Course Outline

  • Introduction, key terms and concepts
  • Voyage Charterparty, Time Charterparty, Bare Boat Charterparty and Contract of Affreightment
  • Charterparty Laytime Rules, Demurrage, Detention, Despatch and Deadfreight
  • Latest Laytime Definitions for Charter Parties 2013 (from Voylayrules 1993)
  • Laytime Commencement, Interruption and Exception
  • Notice of Readiness (NOR), Statement of Facts, Laytime Duration, Laytime Terms, Time Sheets and Laytime Statements
  • Laytime and Demurrage calculation examples
  • Laytime and Demurrage case studies, BIMCO Forms and articles/supplementary materials
  • Glossary of Tanker Terms and Chartering Terms

Target Audience
Trade financiers, commodity traders and those in shipping, transport, logistics, import/export documentation, operations, freight management, purchasing and materials management.

About The Trainer
Mr VCS Vardan (LL.B, Barrister-at-Law), who is now a consultant in private practice, has more than 40 years’ experience in various aspects of supply chain management and logistics, and international trade/finance/contracts. He has trained trainers and conducted seminars and workshops from Vietnam to Dubai. He also specializes in Claims Handling consultancy.

Course Fee Coverage
Participants will each receive a printed Course Manual containing Course Slides, Course Notes, Case Studies and other reference materials.
Participants will be issued a Certificate of Completion.
Lunch will be provided.

For more information, please contact us via:
Phone: (+65) 9366 9001
Email: info@vcstrinity.com
Operating Hours: 9am to 5pm, Mondays to Fridays.
Closed on Saturdays, Sundays and Singapore Public Holidays.

Terms
Program is correct at time of printing but is subject to change without notice.
Payment to be made before course commencement and upon issuance of invoice.
Confirmation of enrolment will be sent to participants.

Course Withdrawal By Participant
Unless otherwise stated, if a participant’s written notice of withdrawal is received:

  • 4 weeks or more before course commencement: 100% refund of course fee.
  • 3 weeks before course commencement: 75% refund of course fee.
  • 2 weeks before course commencement: 50% refund of course fee.
  • 1 week before course commencement / participant is absent: no refund of course fee.

Course Transfer By Participant
Unless otherwise stated, if a participant’s written request for transfer to a subsequent course date is received, a SGD50 administration charge will be incurred.

Course Cancellation By VCS-Trinity Consultants
VCS-Trinity Consultants reserves the right to cancel any program in the event of insufficient enrolment or other unforeseen circumstances.
The full course fee will be refunded or the participant will be transferred to another class.