What is Cancelling date in shipping?
The Cancel Date (or “End Date”) is not always used, but it allows the Seller and Buyer to agree on a deadline when outstanding orders will be canceled if not fulfilled or shipped.
What is a Laycan?
The term “laycan” is frequently used in sale contracts to refer to the delivery period of the cargo. However, “laycan” is a charterparty term, referring to the period during which the vessel must arrive at port. For example, the buyer will have no right to reject the cargo if it is not loaded within the “laycan”.
What is the meaning of layday?
Definition of lay day 1 : one of the days allowed by the charter for loading or unloading a vessel. 2 : a day of delay in port.
What is a Laycan window?
Laycan Window means a period designated by the Terminal Operator, the earliest day of which is the first day on which an approved Vessel may tender a valid NOR to commence loading at such Terminal, and after the last day of which Terminal Operator is not obligated to accept an NOR.
What is Laydays and Cancelling date?
Laydays refers to a period of specified days (e.g. “Jan 7/16”) during which owners must present the vessel for loading. The cancelling date is the final layday and the date beyond which, if the chartered vessel has not been presented for loading, the charterers may reject her and cancel the charter.
What is Laycan in shipping?
What is laycan and laytime?
Laycan means that certain period within the Layday Period and the earliest date at which loading ( Laytime) can commence and the latest date upon which the Vessel can arrive at its appointed loading place without being at risk of being canceled. Laycan has the meaning set forth in the relevant Confirmation.
What does “lay/can 25/30th April” mean?
When dates are fixed; the charterparty will state, for example, “lay/can 25/30th April”. The abbreviation ‘lay/can’ means that the ‘laydays start 25th April, cancelling date 30th April’. This means that the ship must arrive on or after 25th April and before 30th April.
What does ‘lay/can’ mean?
The abbreviation ‘lay/can’ means that the ‘laydays start 25th April, cancelling date 30th April’. This means that the ship must arrive on or after 25th April and before 30th April. The charterer can refuse to load if the ship arrives before the first date, in fact the cargo may not be available.
What are laydays and cancellations?
Laydays and canceling are often called the laycan; they represent the period within which the vessel must be presented at the agreed port or place. If the vessel arrives before the first day of the period, the charterers do not have to accept her until commencement of the agreed laydays.