Careful implementation and thorough recordkeeping are essential when supporting tax deductions.
Month: October 2014
Defending Demurrage Claims
Carriers have recently escalated their efforts to recover demurrage claims against shippers and non‐vessel operating common carriers (NVOCCs). This places NVOCCs in a very difficult position as often NVOCCs are not able to prevent such demurrage and detention charges from continuing to accrue. For example, if Customs officials in China, India or elsewhere hold cargo for extended periods of time (weeks, months or even years), carriers may seek to collect demurrage charges against the shipper or the NVOCC that far outweigh the value of the containers, or even of the cargo itself.
The full article can be read here.