What is mean by Demurrage & Detention system?

It is a penalty (as agreed in shipping contract / transport contract) for delay in loading or unloading or lifting of material. It is applicable to both the parties. If the goods are not loaded in time and / or not delivered in specified time then demurrage is paid by transporter. on reaching the destination if the importer does not lifts or clears the cargo in specified time, for every day of delay the importer has to pay demurrage to ship owner for holding or detaining the ship. This is applicable to cargo movement by road, air and water... all.