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What is a notice of readiness (the third prerequisite for laytime to commence)?

MCA Oral Exam Questions
Typography

Notice given to the charterers, shipper, receiver or other person as required by the charter party that the vessel has arrived at the port or berth and is fully ready to load or discharge, as the case may be. 

Laytime usually commences on the expiry of some specified number of hours, variously called notice time or turn time, during which the charterers, etc. can make preparations for the ship's cargo operations.

 

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