Insurance Law Implications of Delay in Maritime Transport
Freight insurance and the loss of time clause
6.1 Delay in voyage can take several forms which may subsequently result in loss of freight, both in the sense of freight stricto sensu and freight in the sense of charter hire: Delay in earning freight contracted for may induce the assured to contract for substituted freight; delay can frustrate the object of the adventure together with a peril from which it ensues; and it can induce loss of hire where it results from an off-hire event under a time charterparty.
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