2.1 Introductory remarks
The significance and characteristics of the demurrage provision are first and foremost determined by the nature of the voyage charterparty itself. Before analysing the ultimate nature and function of a demurrage clause, it is therefore important to understand how this clause fits into the broader scheme of a voyage charterparty.
Certainly, one must bear in mind that the rights and obligations of the parties will ultimately rest on the construction of the particular contract they have entered into.(1)Bennet, H., p. 540. The contract will lay down the parties’ risk allocation and it is this allocation, rather than any a priori classification of the contract as a voyage charterparty, that will be decisive. Nevertheless, a certain uniformity exists in the basic framework of a charterparty, and it may therefore be useful to identify its main elements.