1.

**Arrived Ship**: An "arrived ship" refers to a vessel that has reached its destination port and is
ready to commence cargo operations. The concept of an arrived ship is crucial in determining when
laytime starts, as it signifies that the vessel is available for loading or unloading.

*Reference: "Laytime Definitions of the Baltic and International Maritime Council (BIMCO),"
Section 6.*

2. **Notice of Readiness (N.OR)**: This notice is issued by the ship's master or agent to the
charterer, indicating that the vessel has arrived at the port and is ready to load or discharge cargo.
The Notice of Readiness is a formal declaration that triggers the commencement of laytime.

*Reference: "BIMCO Laytime Definitions 2013," Clause 10.*

3. **Whether In Berth or Not (WIBON)**: This clause allows laytime to commence even if the vessel
is not yet in berth. It is particularly useful in ports with congestion, ensuring that laytime calculations
are not delayed by the unavailability of a berth.

*Reference: "BIMCO Laytime Definitions 2013," Clause 7.*

4. **Whether In Port or Not (WIPON)**: Similar to WIBON, this clause allows laytime to commence
even if the vessel is not yet in port. It ensures that the charterer cannot delay the start of laytime due
to the vessel's position relative to the port.

*Reference: "BIMCO Laytime Definitions 2013," Clause 8.*

5. **Lay Can**: The "Lay Can" (Laydays/Cancelling) clause specifies the latest date by which a
chartered vessel must commence loading to avoid penalties or cancellation of the charter party.

*Reference: "BIMCO Charter Party Clauses," Clause 12.*

6. **Laytime**: Laytime is the period agreed upon in a charter party during which the vessel must
complete loading or unloading without incurring additional charges. It is a critical factor in charter
negotiations and operations.
 *Reference: "BIMCO Laytime Definitions 2013," Clause 1.*

7. **Demurrage**: Demurrage refers to the charge payable to the shipowner for the delay in loading
or unloading beyond the agreed laytime. It compensates the shipowner for the vessel's lost time.

*Reference: "BIMCO Laytime Definitions 2013," Clause 11.*

8. **Dispatch**: Dispatch is a reward payable to the charterer for completing loading or unloading
before the laytime expires. It incentivizes efficient cargo operations.

*Reference: "BIMCO Laytime Definitions 2013," Clause 13.*

9. **Charter Party**: A Charter Party is a contract between the shipowner and charterer outlining
the terms and conditions of the charter. It includes details such as laytime, demurrage, freight rates,
and other operational clauses.

*Reference: "BIMCO Charter Party Clauses," General Provisions.*

10. **Time Charter**: A Time Charter is a contract where the charterer hires a vessel for a specific
period, paying for the vessel's use and operational costs. The shipowner retains responsibility for the
crew and maintenance.

*Reference: "BIMCO Time Charter Party Clauses," Clause 2.*

11. **Voyage Charter**: A Voyage Charter is a contract where the charterer hires a vessel for a
specific voyage, paying for the transportation of goods from one port to another. The shipowner is
responsible for the vessel's operation during the voyage.

*Reference: "BIMCO Voyage Charter Party Clauses," Clause 1.*

12. **Demise Charter**: Also known as a "bareboat charter," a Demise Charter is a contract where
the charterer takes over the vessel, crew, and management, effectively becoming the temporary
owner of the vessel.
 *Reference: "BIMCO Demise Charter Party Clauses," Clause 3.*

13. **Working Paper (wp)**: Working Papers refer to documents used in the management and
operation of a ship, including logs, reports, and records essential for compliance and operational
efficiency.

*Reference: "International Maritime Organization (IMO) Guidelines," Documentation Section.*

14. **Laydays**: Laydays are the specific days on which a vessel is expected to be available for
loading or unloading. They are agreed upon in the charter party and impact the calculation of
laytime and demurrage.

*Reference: "BIMCO Charter Party Clauses," Laydays Section.*

15. **Freight**: Freight is the charge payable for the transportation of goods by sea. It is calculated
based on various factors, including cargo type, distance, and prevailing market rates.

*Reference: "BIMCO Freight Payment Clauses," Clause 5.*

16. **Safe Port**: A Safe Port is a port where a vessel can safely enter, stay, and leave without risking
harm. The charterer must nominate a safe port to ensure the vessel's safety and avoid liability for
damages.

*Reference: "BIMCO Safe Port Clause," Clause 14.*

17. **Safe Berth**: A Safe Berth is a berth where a vessel can safely dock without risking harm.
Similar to the safe port requirement, the charterer must ensure that the berth is safe for the vessel.

*Reference: "BIMCO Safe Berth Clause," Clause 15.*

18. **Seaworthy**: Seaworthiness refers to a vessel's condition, ensuring it is fit for the intended
voyage and cargo. The shipowner has a duty to provide a seaworthy vessel at the start of the voyage.
 *Reference: "International Convention for the Safety of Life at Sea (SOLAS)," Seaworthiness
Section.*

19. **Safe Afloat**: Safe Afloat indicates that a vessel remains safely afloat under normal operating
conditions, taking into account factors such as cargo weight, draft, and stability.

*Reference: "IMO Stability Guidelines," Afloat Section.*

20. **Not Always Afloat But Safely Aground (NAABSA)**: This condition allows a vessel to ground
safely at low tide without sustaining damage. It is common in ports with significant tidal variations.

*Reference: "BIMCO NAABSA Clause," Clause 18.*

21. **SSHEX**: Sundays and Holidays Excluded (SSHEX) refers to laytime calculation, where Sundays
and public holidays are not counted as part of the laytime.

*Reference: "BIMCO Laytime Definitions 2013," Clause 20.*

22. **SSHINC**: Sundays and Holidays Included (SSHINC) refers to laytime calculation, where
Sundays and public holidays are counted as part of the laytime.

*Reference: "BIMCO Laytime Definitions 2013," Clause 21.*

23. **General Average (GA)**: General Average is a principle of maritime law where all parties in a
sea venture proportionately share the loss resulting from a voluntary sacrifice of part of the ship or
cargo to save the whole.

*Reference: "York-Antwerp Rules," General Average Section.*

24. **Peril**: Peril refers to the dangers that may occur during sea voyages, including natural
hazards like storms, ice, and human threats such as piracy.

*Reference: "International Maritime Dangerous Goods (IMDG) Code," Perils Section.*

*Reference: "BIMCO Contract of Affreightment Clause," Clause 14*