Notice of Readiness/Time Counting: (Clause 7). An important clause in the calculation of Laytime Loading/Discharging Rates: (Clause 8). The speed at which cargo-handling activities are to be performed. Excepted Periods: (Clause 8). Periods when cargo-handling normally does not take place and, therefore, will not count in the computation of laytime unless work is actually carried out during such times ‘when only time actually used shall count’. You will, later on, encounter charters where the loading takes place at highly automated terminals (e.g. iron ore) where there are no excepted periods and the abbreviated SHINC (Sundays and holidays included) will appear in the negotiations. Demurrage/Despatch: (Clause 9). Daily amount of liquidated damages (demurrage) payable by a charterer in the event a vessel is detained in port beyond the maximum permitted laytime, as well as any stipulations to despatch (at usually half the rate of demurrage). Notices: (Clause 10). A shipowner/master may be required to give comprehensive notices of a vessel’s expected arrival at the first (or sole) loading port, failing which the shipowner may face a penalty in the form of extra laytime allowed a charterer. Ship’s Gear: (Clause 12). A normal clause in dry cargo shipping, specifying that a vessel’s gear will be maintained to a high standard and specifying what happens in the event of gear breakdown resulting in extra expense. Grab discharge/Stevedore damage: (Clauses 14 & 15). Owners normally confirm that a vessel is suitable for grab discharge and formalities need to be set out in the event that a vessel suffers damage during the cargo-handling processes. Frequently, however, masters are required to notify charterers or stevedores upon ‘occurrence’ of damage, even though this may not be discovered until overstowed cargo is unloaded at ports of discharge. Thus it is reasonable that the word ‘occurrence’ be replaced by ‘discovery’.