As the charterer is entitled to the whole of the lay days for the purpose of loading or discharging his cargo1, it is not unusual for the charterparty to contain a term providing for the payment of what is called 'dispatch money' by the shipowner to the charterer for any time saved either in loading or discharging2. As in the case of demurrage3, dispatch money is payable at a given rate per day or hour saved4. In reckoning the time saved, the language of the particular term must be taken into account5. Unless there is something in the contract
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